| Report Date | 18 January 2017 |
| Manager | NWQ Capital Management Pty Ltd |
| Fund Name | NWQ Fiduciary Fund |
| Strategy | Multi Strategy |
| Latest Return Date | December 2016 |
| Latest Return | -0.86% |
| Latest 6 Months | -4.17% |
| Latest 12 Months | -7.04% |
| Latest 24 Months | 8.93% |
| Annualised Since Inception | 5.95% |
| Inception Date | 18 January 2017 |
| FUM (millions) | AU$95.66 |
| Fund Overview | The NWQ Fiduciary Fund (Fund), managed by NWQ Capital Management, is a diversified multi-manager portfolio, modelled on NWQ's Fiduciary Model Portfolio. The principal investment objective of the Fund is to produce attractive positive returns irrespective of market direction. This is achieved through active allocations to selective fund managers that employ a variety of traditional and absolute return strategies. The Fund places emphasis on managers who demonstrate a rigorous and repeatable investment process that has delivered a strong track record.
The Fund aims to produce returns, after management fees and expenses of between 8% to 11% p.a. over rolling five-year periods. Furthermore, the Fund aims to achieve these returns with volatility that is a fraction of the Australian equity market, in order to smooth returns for investors. |
| Manager Comments | NWQ Fiduciary Fund returned -0.86% in December. Since inception in May 2013, the Fund has an annualised return of 5.95% p.a., achieved with a volatility of 5.09%. The portfolio's Beta managers, utilising a range of long/short equity strategies, attributed +0.20% for the month, underperforming the domestic equity market. Alpha managers were down for the month, attributing -0.98%. The Fund encompasses allocations to nine underlying Australian-domiciled investment managers - five equity market neutral and four equity beta-correlated strategies, complemented by a modest cash allocation (9.5%). It remains the view of NWQ that there exists the further potential for destructive equity and bond market volatility in the coming months. Therefore, the portfolio continues to remain overweight to the Alpha or market neutral strategies. |
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