| Report Date | 09 November 2016 |
| Manager | Alexander Funds Management |
| Fund Name | Alexander Credit Opportunities Fund |
| Strategy | Fixed Income |
| Latest Return Date | October 2016 |
| Latest Return | 0.82% |
| Latest 6 Months | 4.34% |
| Latest 12 Months | 7.71% |
| Latest 24 Months | 15.81% |
| Annualised Since Inception | 16.56% |
| Inception Date | 31 October 2009 |
| FUM (millions) | AU$91.75 |
| Fund Overview | The aim of the fund is to identify opportunities in the fixed income credit markets. The Fund invests in a full spectrum of fixed income products that includes but is not limited to: corporate bonds,; bank debt; credit derivatives; bank loans;commercial paper;hybrid securities; and mortgage-backed and asset-backed securities.
The Fund may also invest in derivatives for hedging purposes.
The portfolio of the Fund comprises primarily Investment Grade holding of 75% of the Fund's assets. Benchmark allocations are Australasia 50% to 100%, North America 0% to 50% and Europe 0% to 50%. Currency hedging may take place depending on benefits to the Fund. |
| Manager Comments | Alexander Credit Opportunities Fund rose 0.82% in October. The Australian equity market fell 2.15%. Since inception, the Fund has an annualised return of 16.56% p.a., (RBA Cash Rate Index 3.16% p.a), to give notable Sharpe and Sortino Ratio of 1.88 and 18.79 respectively. The Fund has delivered positive returns for over 95% of the months since inception. For the month of October, the majority (49%) of the portfolio was allocated in the Residential Mortgage-Backed Securities (RMBS), followed by Corporate Bonds/Loans at 26%. Cash increased from prior month to 7%.
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