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| Manager | |
| Fund Name | |
| Strategy | |
| Latest Return Date | |
| Latest Return | |
| Latest 6 Months | |
| Latest 12 Months | |
| Latest 24 Months | |
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| 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 | At the sector level, Qato had a short bias to the Real Estate sector which rallied +3.13% for the month, hindering performance considerably. Qato held short positions in REITs, with an average performance of that subset of +6.03% for May, with only Westfield producing a negative return (-3.62%). Qato also noted that Telstra (short) provided a favourable 3Q trading update in May, announcing EBITDA would be at the bottom end of its already revised guidance range. Qato expect Telstra to reduce its dividend considerably as a means of stabilising its cash flows. |
| More Information |
