The Austral Equity Fund recorded a return of +0.45% in December, bringing its 2008 return to +1.30% and its 2009 financial year return to +2.90%.
The fund's positive return came amidst less volatile market conditions in December, although overall liquidity in equity markets was low. As a result the fund's trading activity was relatively low, the fund's return being mainly attributed to existing interest rate securities positions. The Austral Equity Fund is an event driven fund which invests mainly in Australian companies that are, or may be, involved in special situations or corporate events.
