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Printed: 21 September 2026 3:42 AM

22 Apr 2016 - Alexander Credit Opportunities Fund

By: Australian Fund Monitors
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Report Date20 April 2016
ManagerAlexander Funds Management
Fund NameAlexander Credit Opportunities Fund
StrategyFixed Income
Latest Return DateMarch 2016
Latest Return0.46%
Latest 6 Months3.25%
Latest 12 Months6.96%
Latest 24 Months16.47%
Annualised Since Inception17.31%
Inception Date31 October 2009
FUM (millions)AU$66
Fund OverviewThe aim of the fund is to identify opportunities in the fixed income credit markets. The Fund invests in a full spectrum of fixed income products that includes but is not limited to: corporate bonds,; bank debt; credit derivatives; bank loans;commercial paper;hybrid securities; and mortgage-backed and asset-backed securities.

The Fund may also invest in derivatives for hedging purposes.

The portfolio of the Fund comprises primarily Investment Grade holding of 75% of the Fund's assets. Benchmark allocations are Australasia 50% to 100%, North America 0% to 50% and Europe 0% to 50%. Currency hedging may take place depending on benefits to the Fund.
Manager CommentsAlexander Credit Opportunities Fund rose 0.46% for the month of March. Since inception, the Fund has an annualised return of 17.31% p.a (RBA Cash Rate Index 3.30% p.a), to give notable Sharpe and Sortino Ratio of 1.88 and 18.74 respectively. The Fund has delivered positive returns for over 95% of the months since inception.

For March majority of the Fund's portfolio composition was in Residential Mortgage Backed Securities (RMBS) at 55%, followed by Short-dated loans at 20%. The Fund continues to be conservatively positioned with a credit duration of 1.3 years. This has helped the Fund avoid the market volatility experienced during the first quarter.
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