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| Manager | |
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| Strategy | |
| Latest Return Date | |
| Latest Return | |
| Latest 6 Months | |
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| 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 entered February with net long exposure, at 9% of NAV, and with a higher beta skew towards the Resources complex. The Fund's stock selection worked well during the month, as mean reversion finally paid. No multiple and no commodity exposure was low enough to be investible. In the current earning season, the Fund's strike rate on their higher conviction investments was generally good, despite one bad earnings miss in retail. The investment team continues to believe the recent market volatility is here to stay and therefore will continue to focus on stock opportunities, with limit the exposure to the market risk. Click below to read the latest Fund monthly report. |
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