| 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 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 by generally holding 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 | South32 was the strongest performer for the month, contributing +0.83% due to the Fund holding an overweight position of +4.6%. Flight Centre also contributed positively (+0.40%) after rallying +15.35%. The Fund's underweight position in the Financials sector, which pulled back -0.79%, also had a positive impact on relative performance, with the Fund holding short positions in ANZ (-0.56%) and Westpac (-1.26%). A strong rally in the healthcare sector (+3.16) negatively impacted performance of the short book which held positions in Sonic Healthcare (+4.3%), CSL (+3.6%) and Cochlear (+1.4%), although the impact was lessened by short positions in Ramsay Healthcare (-2.5) and Healthscope (-8.1%) which contributed positively. |
| More Information |
