| Report Date | |
| Manager | |
| Fund Name | |
| Strategy | |
| Latest Return Date | |
| Latest Return | |
| Latest 6 Months | |
| Latest 12 Months | |
| Latest 24 Months | |
| Annualised Since Inception | |
| Inception Date | |
| FUM (millions) | |
| Fund Overview | The fund seeks to identify opportunities in the share market to make positive returns (long and short) irrespective of market conditions. It is style agnostic, as compelling investment opportunities exist across all investment styles from time to time. The Fund places a high priority on capital preservation, and has an absolute return focus in accepting market risk. The Manager's experience across value, growth and discounted cash flow styles allows them to use a comprehensive approach to investment decisions that applies all three. They also have the patience to seek out only compelling opportunities, rather than settling for relative value. The portfolio is somewhat concentrated, looking to diversify across industries and themes, rather than by trying to stay near an index. The portfolio may at times have a large amount of cash or other protection. However once investments are made turnover may be relatively high in order to lock in gains and avoid losses. |
| Manager Comments | The Manager's month-end exposure was net 71%, gross 95%,VAR 1.0%, with a beta of 0.49 for the portfolio. The Fund's short positions generally assisted in April, which was offset by larger portfolio positions that fell despite no news. Some of the highs for the month came from strong gains in VMoto (VMT) and from Energy Action (EAX). However Next DC (NXT) and Netcomm Wireless (NTC) were negative contributors to the Fund's performance. Click the link below to the rest of the Fund Manager's Report. |
| More Information |
