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| Fund Overview | The Fund is a long/short investment fund principally investing in listed entities, commodities, futures and options in Australia and internationally. The Fund is not a market neutral fund and accordingly may switch between net long positions and net short positions. The Fund may use short sales and derivatives. Gearing may be used to enhance returns and the Fund may be geared in excess of 100% of the Fund's Net Asset Value. There is a limit to net exposure of 150%. |
| Manager Comments | At month-end, the fund had a net exposure of 39.7% and a gross exposure of 277.0%. The fund held 134 positions (67 long and 67 short) that were diversified across multiple investment themes. Top contributors were long positions in Smartgroup, Alphabet and Hansen. Biggest detractors were short positions in Independence Group, Fortescue and Metcash. Click below to read the latest Fund's Monthly Report. |
| More Information |
