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| Latest Return | |
| Latest 6 Months | |
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| Latest 24 Months | |
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| FUM (millions) | |
| Fund Overview | The fund targets a net market exposure of 0% to hedge broader market risks through long and short positions. The process is entirely systematic - stock selection and risk management are all employed in a rules based approach. The Market Neutral Long/Short Fund employs no financial leverage, no derivatives and no financial products to imitate leverage. The Investment Manager's three principal investment goals for the Fund are: 1. Market neutral long/short portfolio management with little correlation to equity markets; 2. Over a 3-5 year period, seeking to target annualised volatility of 15% per annum and annualised returns of 15-30% per annum above the Benchmark; Sharpe Ratio 1.0-2.0 and a negative beta to ASX listed equities; and 3. To provide investors with a co-investment opportunity alongside the founding members' investments in the Investment Manager's strategy. |
| Manager Comments | Sixty-seven percent of the long positions provided a positive return in June, leading to the long book returning +0.20% (gross) - significantly outperforming the S&P/ASX-100's return of -2.8% and generating +3.0% of alpha. The Fund was short Henderson Group which was the worst performer in the S&P/ASX-100 in June and 90% of the short positions outperformed the index's monthly return. Qato is currently positioned both long and short to the mining and material companies, after being net short exposure for a prolonged period. Long exposures include positions such as Alumina, Bluescope, Fortescue, and South32, due largely to their significant fundamental improvements from cost cuts and rising commodity prices. These positions profited from the rebound in asset prices and positively impacted June returns. These have continued into July. |
| More Information |
