| 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's long positions strongly outperformed the market, with negative attribution of -2.5%. Key performers included the Fund's more defensive holdings: Fairfax, Ansell, Asaleo, and Contact Energy. The short positions yielded outsized gains in such a weak market, with positive attribution of 4.2%. Key winners included financials, energy, and their index futures portfolio hedge. Click below to read the latest Fund Manager's commentary on the Fund and market outlook. |
| More Information |
