| Report Date | 13 September 2017 |
| Manager | NWQ Capital Management Pty Ltd |
| Fund Name | NWQ Fiduciary Fund |
| Strategy | Multi Strategy |
| Latest Return Date | August 2017 |
| Latest Return | -0.13% |
| Latest 6 Months | 1.84% |
| Latest 12 Months | -2.06% |
| Latest 24 Months | 2.79% |
| Annualised Since Inception | 5.62% |
| Inception Date | 13 September 2017 |
| FUM (millions) | AU$90 |
| 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 | The NWQ Fiduciary Fund saw a high level of variation in manager returns in August, resulting in a decline of -0.13%. While most manager allocations were up for the month, this was offset by one of NWQ's alpha managers experiencing a difficult month, however, NWQ note that the same manager is the Fund's best performing manager year-to-date and has been a long-term contributor.
The Fund's beta managers posted robust returns, this was driven by the high conviction stock positions of most of these managers. The Fund's holdings in cash and fixed income was reduced to 5% from 7.5% in July, while the Fund's allocation to its alpha managers increased to 70% from 67.5%. |
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