| 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 was slightly net long invested during October, but reduced exposure into the rally. The Fund's return was very much driven by stock selection. The long positions strongly outperformed the market, with attribution of +4.1% on average long exposure of 52% of NAV. Key contributors included financials, retail, and commodity group. Short positions were difficult in such a strong market, with attribution of -2.1% on average short (stock) exposure of 29.4%. Click below to read the latest Fund Monthly Report. |
| More Information |
