| 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 shorts produced negative attribution of 0.9% for the month. The long positions had positive attribution of 0.8%. The rally in the Australian market from mid-December allowed the Fund to realise some long investments at attractive prices and to increase short position. As a result, the Fund came into 2016 with net short exposure at 11% of NAV. This risk setting has served the fund well against January's initial carnage, but our lack of beta exposure was a heavy drag on performance in December Click below to read the latest Fund Monthly Report. |
| More Information |
