| 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's small investment in lithium producer Orocobre was the big winner over the year. The insurance, builders, banks and media sectors positively contributed in July. However, the healthcare, staples, resources and index futures sectors detracted from the performance. The bias against interest-rate sensitive stocks proved expensive as a means of hedging portfolio risk. At month-end, the Fund had gross exposure of 94% and net short exposure of 22%. The Fund will continue to maintain a defensive focus. Click below to read the latest Fund monthly report. |
| More Information |
