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| Manager | |
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| Strategy | |
| Latest Return Date | |
| Latest Return | |
| Latest 6 Months | |
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| Latest 24 Months | |
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| Inception Date | |
| FUM (millions) | |
| Fund Overview | The Fund's discretionary investment strategy commences with a macro view of the economy and direction to establish the portfolio's desired market exposure. Following this detailed sector and company research is gathered from knowledge of the individual stocks in the Fund's universe, with widespread use of broker research. Company visits, presentations and discussions with management at CEO and CFO level are used wherever possible to assess management quality across a range of criteria. Detailed analysis of company valuations using financial statements and forecasts, particularly focusing on free cash flow, is conducted. Technical analysis is used to validate the Manager's fundamental research and valuations and to manage market timing. A significant portion of the Fund's overall performance can be attributed to the attention and importance given to the macro economic outlook and the ability and willingness to adjust the Fund's market risk. |
| Manager Comments | Since inception (May 2006) performance is sound with a return of 13.24% (ASX 200 Accum 5.33%) and a volatility of 7.61% (Index 14.32%). The Sharpe ratio over that time is 1.1 (Index 0.13). The net equity market exposure of the Fund (including derivatives) was increased to 60.1% (82.4% long and 22.3% short). Long positions in Crown, Challenger and BHP were the major positive contributors. Short positions in Webjet and Price Index Futures contracts (hedging longs), as well as a long position in Ansell,were the largest detractors. |
| More Information | » View detailed profile of this fund |
