| Report Date | |
| Manager | |
| Fund Name | |
| Strategy | |
| Latest Return Date | |
| Latest Return | |
| Latest 6 Months | |
| Latest 12 Months | |
| Latest 24 Months | |
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| Inception Date | |
| FUM (millions) | |
| Fund Overview | The Fund seeks to preserve capital and maximise absolute returns through active and constant risk management, targeting monthly a net market exposure of 0% to hedge broader market risks with up to 50 S&P/ASX-100 positions (up to 25 long positions & 25 short positions). Historically, the strategy has been uncorrelated to traditional asset classes with a negative beta to equity markets. Qato Capital's process is entirely systematic - stock selection and risk management are all employed in a rules based approach. Positions in Qato's long-portfolio and short-portfolio are rotated monthly dependent upon their Q-Score ranking. The strategy employs no financial leverage/gearing to purchase securities, no derivatives and no financial products to imitate leverage. |
| Manager Comments | Materials were the strongest performing sector of October, posting a +1.20% gain for the period. Qato's long position in Fortescue (+11.10%), reported strong results in October. South 32, also held in Qato's long-book reported in line with its previous guidance, closing the month up +6.60%. Assuming commodity prices remain at current spot levels, Qato believes further EPS upgrades in FY17 and FY18 as Materials continue to experience strong fundamental improvements. The Fund currently holds several positions in this sector. Another positive contributor was AMP, which came from Qato's short-book, added generous alpha of +14.90% for the Fund. However, the negative performance in REITs of -7.40%, adversely affected Qato's long-book, as the Fund held a number of positions in this sector. |
| More Information |
