| 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's bias is likely to be net long under normal market conditions, with the core strategy being to construct a portfolio of listed equity securities priced at levels that do not adequately reflect their underlying value. The Fund will seek to boost returns and limit potential market downside by selective short selling of individual stocks which are priced at levels that are viewed as materially above their underlying value. The Fund will also use certain trading strategies both within its core portfolio (through rebalancing stock weights and overall market exposure in response to price movements) and in certain other situations (typically of a shorter-duration and/or opportunistic nature) with the objective of further increasing returns. |
| Manager Comments | The Fund had a gross exposure of 100.30% and net exposure of -0.1%. The Fund's stock selection performed strongly in April, with positive attribution on both the fund's long (+0.5%) and short (+1.5%) positions, in an appreciably weaker and more volatile equity market. Their long position in Fairfax and shorts in the banks both did well. The Fund's stock returns were otherwise quite diversified, with no single theme or sector dominating overall performance. Click below to read the latest Fund Manager's review of the Fund and the Market. |
| More Information |
