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| Fund Overview | The Fund is managed as one portfolio but comprises and combines two separately managed exposures: 1. An investment in the top 20 stocks of the markets, which the Fund achieves by taking an indexed position in the S&P/ASX 20 Index; and 2. An investment in the stocks beyond the S&P/ASX 20 Index. This exposure is managed on an active basis using a fundamental core approach. The Fund may also invest in securities expected to be listed on the ASX, securities listed or expected to be listed on other exchanges where such securities relate to ASX-listed securities.Derivative instruments may be used to replicate underlying positions and hedge market and company specific risks. The companies within the portfolio are primarily selected from, but not limited to, the S&P/ASX 300 Accumulation Index. The Fund typically holds between 40-55 stocks and thus is considered to be highly concentrated. This means that investors should expect to see high short-term volatility. The Fund seeks to achieve growth over the long-term, therefore the minimum suggested investment timeframe is 5 years. |
| Manager Comments | As at the end of October, the Fund's weightings had been increased in the Health Care, Industrials, REIT's, Financials and Materials sectors, and decreased in the Discretionary, Consumer Staples, Communication and Energy sectors. The Fund's cash weighting remained unchanged at 2.3%. The Fund fell in line with the market in October, returning -6.81% after fees. The Twenty20 Australian Equities Fund comprises a passive investment in the ASX20, which has a weighting of over 50% of the portfolio, and an active investment in ASX ex-20 companies. Therefore, the Fund's returns will largely be influenced by the activity of the ASX's top 20 stocks. However, the active investment in ASX ex-20 has the goal of allowing the Fund to outperform the broader market, which the statistics mentioned earlier show has been successful; superior Sharpe and Sortino, and up-capture and down-capture ratios highlighting outperformance in both rising and falling markets over the long-term. |
| More Information |
