The MM&E Capital Takeover Target Fund was down -1.40% in January after ending 2008 down -30.84%.
The Fund remained heavily invested in cash for the month, although new postions in Tabcorp and Santos were entered while positions on Bank of Queensland and Origin Energy were exited. This enabled the Fund to outperform the ASX200 for the month (-4.88%). The manager expects the Fund to become more active in the market after the upcoming interim reporting season is over.
