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| Fund Overview | Whilst the Fund's primary strategy is focused on long/short equities, the ability to retain discretionary powers to allocate across a number of other investment strategies is reserved. These strategies may include, but not be limited to: convertible bond investments, portfolio hedging, equity related arbitrage, special situations (e.g. merger arbitrage, rights offerings, participation in international public offerings and placements, etc.). The Fund's geographic focus is Asia excluding Japan, but including Australia). The Fund may invest outside of this region to the extent that: 1. The investment decision is driven from the Asian region or; 2. The exposure is intended to mitigate risk or enhance return from factors external to the Asian region. |
| Manager Comments | The Fund has returned 15.16% since inception in October 2009 with a volatility of 5.46%, Sharpe ratio of 2.00 and Sortino ratio of 4.53%. The surprise announcement by the Swiss National Bank regarding the removal of the peg of the Swiss Franc to the Euro has led to less reported significant losses than we would expect. There have obviously been winners and losers but we were surprised not to see an announcement from a corporate of any significant losses as a result of the move. This move emphasizes how dependent the markets have become on well flagged and considered moves by central bankers. We remain unconvinced that the financial measures that have been introduced, such as quantitative easing, actually stimulate the economy. These measures often artificially support financial asset prices, maybe that is their main aim; economies do not tend to thrive as financial asset prices crash! |
| More Information | » View detailed profile of this fund |
