| 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 | Fund returns for April were impacted by the net short market exposure, averaging 17% of NAV. The performance was further impacted by the weaker stock price performance from some of the high conviction longs in the retail and media sectors. The Fund's tactical positioning in natural resources and some defensive consumer exposures worked well, posting solid gains. At month-end, the Fund's gross exposure was at 77% and net at -20%. Click below to read the latest Fund monthly report. |
| More Information |
