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| Fund Overview | The Fund may also invest in derivatives for hedging purposes. The portfolio of the Fund comprises primarily Investment Grade holding of 75% of the Fund's assets. Benchmark allocations are Australasia 50% to 100%, North America 0% to 50% and Europe 0% to 50%. Currency hedging may take place depending on benefits to the Fund. |
| Manager Comments | The Fund has little exposure to movements in interest rates because the majority of the assets within the Fund are floating rate notes (the interest rate duration of the Fund as at January 31st 2015 was 0.05 years). This helped the Fund avoid the sell-off experienced by fixed rate bonds during 2013, but the Reserve Bank of Australia's move to cut the cash rate on February 2nd lowered the one month BBSW rate, which is the benchmark rate for most of the assets in the portfolio. This will marginally reduce the Fund's returns in the near term. |
| More Information | » View detailed profile of this fund |
