| 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 | During March, the Fund had solid gains from their high-conviction longs in the retail, media and utility sectors. The hedging through short exposure was not too expensive, with loss attribution of around 0.70% arising almost solely from index futures - the stock shorts broke even for the month. The Fund's stock selection worked extremely well, however the net short through the month, detracted from the returns. At month-end, the Fund's gross exposure was at 72% and net at -15%. Click below to read the latest Fund monthly report. |
| More Information |
