| 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 | Harvest Lane Asset Management employs a conservative, highly selective and opportunistic approach. Using their extensive knowledge in the area of corporate actions, the Fund's managers assess each opportunity based on a thoughtful, diligent and disciplined process and invest where they believe an opportunity exists to generate above average investment returns relative to the risk incurred. Investment decisions are made without speculating on market direction, with rigid risk controls enforced to minimise the risk of large losses of investor capital. The Fund invests in securities that are predominantly listed on the ASX and occasionally in those listed in other developed markets. Equity swaps and other derivatives may be used at times to reduce risk. The fund typically holds high levels of cash in the absence of sufficiently attractive opportunities to deploy investor capital in accordance with its objectives. |
| Manager Comments | The Harvest Lane Absolute Return Fund returned +1.10% in September, taking annualised performance since inception in July 2013 to +8.43% with an annualised volatility of 6.84%. By contrast, the ASX200 Accumulation Index has returned +10.22% p.a. with an annualised volatility of 10.69% over the same period. The Fund's Sortino ratio of 1.61 vs the Index's 1.16, average negative return of -1.40% vs the Index's -2.45% and down-capture ratio of -34.29% highlight the Fund's capacity to protect investor capital in falling markets. Harvest Lane noted September was an eventful month which saw further exciting opportunities emerge for the Fund. The Fund finished the month almost fully invested. Several full-sized positions in late stage transactions are due to complete throughout October and early November, which should see a significant percentage of the Fund converted back to cash. Two deals in Ruralco Limited and Kidman Resources completed as expected, with cash proceeds recycled straight back into other opportunities, however, Harvest Lane were slightly disappointed Kidman Resources failed to attract a competing proposal. Read the fund's latest report for more in its activities throughout September. Harvest Lane were pleased with the Fund's performance during September and maintain an optimistic outlook. |
| More Information |
