| 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 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 | One of the longest investment themes over the past few years has been the declining interest rates, which the Fund has benefited from, through their holdings of dividend paying and growth companies. However, the investment team believes this trend of declining yields may be coming to an end, since the Trump victory. The Fund, therefore, has pulled back its gross exposure, largely exited their long positions in the infrastructure and REIT space and greatly reduced their short positions in resources. The Fund has selectively added to cyclical, financial and US$ exposures while shorting overpriced yield proxies and de-rating growth stocks. Top contributors in October were a long position in Shriro +0.68% and short positions in Estia +0.65% and Coca-Cola Amatil +0.28%. Biggest detractors were long positions in Smartgroup -2.23%, Bapcor -1.60% and Altium -0.81%. Click below to read the latest Fund's Monthly Report. |
| More Information |
