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| Fund Overview | The Fund focuses on fundamental long and short investments. The Fund may utilise a multi-strategy approach if short term opportunities to increase returns, hedge the portfolio, protect capital or minimise volatility are found. The Fund is a high conviction fund and the combined portfolio will typically have 25-45 positions, investing primarily in stocks in the ASX200. The Fund may be net long, short or neutral depending on the strategies employed at the time. The Fund may hold cash so that it is in a position to take advantage of market volatility and compelling investment opportunities as and when they arise. The Fund may be geared up to 200% gross long or short and up to 150% net long or short. |
| Manager Comments | The had a Sharpe ratio of 5.46 (Index 1.61) and 100% positive months (Index 75%) over the last year with Up and Down Capture ratios of 1.51 and -1.00 over the same time. Average gross capital employed by the Fund was 149.8% long and 26.1% short. Average net exposure over the month was +123.7%. At the end of the month the Fund had 36 long positions and 5 short positions. The Manager's August Newsletter is entitled 'Is now a good time to buy equities?' and is available on the AFM website. |
| More Information | » View detailed profile of this fund |
