| 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 | Whilst the Fund's primary strategy is focused on long/short equities, the ability to retain discretionary powers to allocate across a number of other investment strategies is reserved. These strategies may include, but not be limited to: convertible bond investments, portfolio hedging, equity related arbitrage, special situations (e.g. merger arbitrage, rights offerings, participation in international public offerings and placements, etc.). The Fund's geographic focus is Asia excluding Japan, but including Australia). The Fund may invest outside of this region to the extent that: 1. The investment decision is driven from the Asian region or; 2. The exposure is intended to mitigate risk or enhance return from factors external to the Asian region. |
| Manager Comments | In April, the Fund's short position in Blue Sky Alternatives (BLA.AX) was the largest contributor (+26bp). No other position contributed or detracted more than 20bp. KIS noted that, when evaluating the return of the Fund to identify the source of the loss over the month, there was clearly no one significant line. In their latest commentary, KIS discuss their short position in Blue Sky Alternatives (BLA.AX) and their reservations about BLA.AX prior to Glaucus' report. KIS believe what Glaucus published was fair; their logic was stated and was made available to all. KIS was flat BLA.AX at the time of the release of Glaucus' report, however, they shorted the stock soon after and shorted further stock both after listening to Blue Sky's initial rebuttal and after Glaucus' second comment which confirmed KIS' opinion of the BLA.AX rebuttal. As mentioned above, BLA.AX was the Fund's largest contributor in April (+26bp). |
| More Information |
