| Report Date | |
| Manager | |
| Fund Name | |
| Strategy | |
| Latest Return Date | |
| Latest Return | |
| Latest 6 Months | |
| Latest 12 Months | |
| Latest 24 Months (pa) | |
| 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 | Using index options and futures to keep the portfolio hedged and express a small net short bias, over the month KIS averaged -8% of AUM short which cost the Fund 58bp. There were no other losses greater than 30bp. KIS noted they remain cautious on markets and are committed to a market neutral approach, protecting investors' capital against any sudden change in sentiment. They say the rally in equity markets from the December lows feels to have been initially a reaction to looser US monetary conditions and is now a bid for equities for fear of missing out on any further rally and a lack of other investment opportunities. On the winning side the Fund made 31bp on their long position in MedAdvisor Ltd (MDR.AX). |
| More Information |
