| 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 | To pursue this objective, the Investment Manager is responsible for actively managing, monitoring and tailoring the integration of derivative contracts alongside the Morningstar Portfolio, while taking into account changing market and stock specific conditions. The Investment Manager is responsible for maximising the structural benefits of short option positions (lowered Volatility, improved capital preservation, higher income generation), whilst mitigating, minimising and monitoring the structural negatives (variable market exposure, option expiries, collateral management and asymmetric return profiles). In addition, long derivatives positions are also used to enhance the capital preservation characteristics of the Fund in more extreme market movements. As a consequence of the integration of Derivatives, returns of the strategy, intra-cycle, are expected to vary from the underlying Morningstar Portfolio due to these characteristics. For example in weak markets, or in extended sideways markets, the Fund is expected to outperform relative to the Morningstar Portfolio. Conversely in strong positive markets the Fund is expected to underperform. |
| Manager Comments | The Manager believes that the tailwinds that supported growth in global markets over the quarter, such as robust US earnings growth driven by the Trump tax cuts, continued accommodative monetary policy from the US Federal Reserve, and US technology sector outperformance, appear to be slowing. They noted that, as tailwinds become headwinds, the value of strategies that can both protect capital and deliver an income-driven source of real return will likely increase, particularly for investors that require a regular source of both income and real-return to fund their living expenses. The Wheelhouse Global Equity Income Fund is designed to deliver equity returns with higher income generation and active downside protection. As at the end of September, the Fund's performance was broadly in line with equities, outperforming for the year-to-date, but dragging a little in the September quarter. |
| More Information |
