| 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 maintained a net short market exposure throughout the month of June and therefore profited from the risk liquidation. However, most of the gains quickly disappeared post-Brexit rally. The Fund's short positions made a net contribution of 1.30% (on average exposure of 48% of NAV), slightly exceeding losses on their longs. The longs in Industrial, Resources and Staples sectors and the shorts in Banks, Builders, Index Futures sectors positively contributed to the Fund. However the longs in Insurance, Banks and Chemical sectors and the shorts in REITs and media sector contributed negatively. Click below to read the latest Fund monthly report. |
| More Information |
