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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 | In August, the HK and Chinese markets were extremely weak, with falls of 12% in the HSCEI, Shanghai Shenzhen 300 and Shanghai Composite (with 14 to 15% falls last month). Majority of the Fund's return came from the Special Situations Strategy, which contributed 24bp. The main driver of this profit was the trading of the competitive takeover of Affinity Education Group (AFJ.AX) with an initial bid by G8 Education (GEM.AX) and a competing bid from PE group Anchorage Capital. Other strategies such as Long Short contributed 17bp, while Portfolio Hedge did not make a significant contribution. To read more, cLick below for Fund's Monthly performance report. |
| More Information |
