| Report Date | 17 March 2020 |
| Manager | Australian Eagle Asset Management |
| Fund Name | Australian Eagle Trust Long-Short Fund |
| Strategy | Equity Long/Short |
| Latest Return Date | February 2020 |
| Latest Return | -6.50% |
| Latest 6 Months | -0.00% |
| Latest 12 Months | 16.47% |
| Latest 24 Months (pa) | 11.93% |
| Annualised Since Inception | 18.04% |
| 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 returned -6.50% in February, outperforming the ASX200 Accumulation Index by +1.19%. Since inception in July 2016, the Fund has returned +18.04% p.a. versus the Index's +10.38%. The Fund's Sharpe and Sortino ratios, 1.34 and 2.33 respectively, by contrast with the Index's Sharpe of 0.90 and Sortino of 1.34, highlight the Fund's capacity to achieve superior risk-adjusted returns whilst avoiding the market's downside volatility. The Fund's up-capture and down-capture ratios, 132.6% and 76.3% respectively, indicate that, on average, the Fund has outperformed in both rising and falling markets since inception.
The portfolio's largest positive contributions for the month came from short positions in Link Administration Holdings, Cimic Group and Reliance Worldwide Corporation. The largest detractors included long positions in Altium, Cochlear and ASX. The Fund had 30 long positions and 23 short positions with largest exposure to medical devices & services and technology stocks. There was relatively less exposure in the banking and materials stocks at month-end. |
| More Information |
|
