| 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's bias is likely to be net long under normal market conditions, with the core strategy being to construct a portfolio of listed equity securities priced at levels that do not adequately reflect their underlying value. The Fund will seek to boost returns and limit potential market downside by selective short selling of individual stocks which are priced at levels that are viewed as materially above their underlying value. The Fund will also use certain trading strategies both within its core portfolio (through rebalancing stock weights and overall market exposure in response to price movements) and in certain other situations (typically of a shorter-duration and/or opportunistic nature) with the objective of further increasing returns. *Formerly the Optimal Australia Absolute Trust |
| Manager Comments | In January, ARCO reduced the Fund's gross exposure by trimming the Fund's long positions on the back of recent strong price rises. Short positions (mainly in interest rate sensitive REITs and in index futures) made the greatest contribution to performance. The Fund's long positions also contributed positively in aggregate, and were relatively broad-based across the Fund's minerals, software and services, telecoms and financial holdings. The Trust continues to reflect ARCO's negative view of interest rate sensitive stocks, their favourable view on companies with clear earnings/margin growth paths, and their belief in the need to hedge broad market exposure into what ARCO expect to be a more volatile period ahead. |
| More Information |
