| 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 investment manager uses an initial screening process to highlight securities within their target investment universe where there are likely to be errors in market expectations and where they could change to impact security prices. A detailed research process is then undertaken and integrated with financial analysis to determine a sustainable yield and fundamental discounted cash flow valuation for each security. The investment manager's analysis of a security will involve a review of potential key drivers such as operational outlook, inflation and interest rate expectations, regulatory environment, tax structuring, position in capital expenditure cycle and capital structure. The goal is to understand how a company is positioned in terms of its growth and risk profile. The Fund does not undertake a long range forecasting or attempt to arrive at a precise conclusion about a company's long term valuation. Instead, the investment team seeks to understand the fundamental agents of change impacting a company and its environment and use this to determine how they will impact a company's economics and market perception of value. The Fund intends to use leverage to enhance returns to investors and has a policy of limiting leverage to 50%. The Fund may make use of derivatives, mainly to reduce risk or gain exposure to other types of investments. |
| Manager Comments | The Newgate Absolute Return Fund ended the financial year up +41.00% versus the Index's +13.01%. The Fund has returned +22.38% per annum since inception in August 2016, outperforming the Index by +11.78% on an annualised basis. The Fund's Sharpe and Sortino ratios for performance since inception, 1.68 and 4.15 respectively, highlight the Fund's ability to achieve superior risk-adjusted returns whilst ensuring investors' capital is protected. In addition, the Fund's cumulative down-capture ratio since inception emphasises the Fund's ability to perform well in falling markets. |
| More Information |
