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| Manager | |
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| Strategy | |
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| 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 Fund returned -0.15% in October, however, Harvest Lane believe this doesn't quite tell the full story. The portfolio saw a marked change in composition as a large number of mature deals completed, bringing with it a much needed reinjection of cash to recycle into new opportunities. The majority of the portfolio made positive contributions to performance with non-specific weakness amongst a handful of positions enough to offset it. Harvest Lane noted new deals continue to flow and they are seeing increased offers in existing positions, setting the portfolio up for what they believe should be a strong finish coming in to the end of the calendar year. They added that the start to November has already seen a great deal of activity with further deals and price increases announced. |
| More Information |
