| Report Date | 14 February 2020 |
| Manager | Australian Eagle Asset Management |
| Fund Name | Australian Eagle Trust Long-Short Fund |
| Strategy | Equity Long/Short |
| Latest Return Date | January 2020 |
| Latest Return | 5.45% |
| Latest 6 Months | 4.32% |
| Latest 12 Months | 29.17% |
| Latest 24 Months (pa) | 17.52% |
| Annualised Since Inception | 20.74% |
| Inception Date | 27 June 2016 |
| FUM (millions) | |
| Fund Overview | The Australian Eagle Trust Long-Short Fund aims to achieve strong double digit returns by allowing clients to access Australian Eagle's demonstrated historical strength in constructing Australian share portfolios applied to a long-short product. Using a combination of Australian Eagle's actual long investment performance in conjunction with a short selling discipline, suggests that this product can provide strong investment returns along with an alpha performance that is negatively correlated to the broader Australian equity market. |
| Manager Comments | The Australian Eagle Long Short Fund rose +5.45% in January, outperforming the ASX200 Accumulation Index by +0.47%. Since inception in July 2016, the Fund has returned +20.74% p.a. versus the Index's +13.14%. The Fund's Sharpe and Sortino ratios for performance since inception, 1.60 and 3.09 respectively, by contrast with the Index's Sharpe of 1.26 and Sortino of 2.21, highlight the Fund's capacity to achieve superior risk-adjusted returns whilst avoiding the market's downside volatility.
The portfolio's largest positive contributions for the month came from long positions in ResMed, CSL and Altium. The largest detractors included long positions in Treasury Wine Estates and Nearmap and a short position in Link Administration Holdings. The Fund had 30 long positions and 21 short positions with largest exposure to medical devices & services and technology stocks. As at the end of January, the portfolio had relatively less exposure to banking and materials stocks. |
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