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| Strategy | |
| Latest Return Date | |
| Latest Return | |
| Latest 6 Months | |
| Latest 12 Months | |
| Latest 24 Months | |
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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 | Majority of the month's return came from the Long Short Strategy, contributing 355bp. In April the spotlight was on the Hong Kong (HK) and China equity markets. The Hang Seng China Enterprises Index (HSCEI) rallied 17% while the Shanghai Composite (SHCOMP) gained 20%. The Fund finally saw some serious volume in the Southbound Connect flows after a lackluster start back in November. With such an extraordinary rise in Chinese and HK stocks over the past 6 months, investors are starting to look at potential excesses in the market. Margin lending is the biggest focus and the Fund has and will continue to do work around this issue. Elsewhere April was fairly quiet. For the month ahead, investors, will be questioning the 'sell in May' seasonality. Australia has a budget to hand down that is unlikely to cause fireworks, but can have some impact on certain sectors. Click below to read the complete Fund Manager's Latest Report. |
| More Information |
