AR Capital Management's Ascot Fund was down -0.18% overall in January, after recording a -0.5% loss on the Fund's PXUPA (Paperlinx Step Up Prefs) position.
This individual result offset positive performance from shorts in Boral, Harvey Norman and Sigma Pharmaceuticals amongst others, although the Fund also experienced negative returns from shorts in Caltex and Incitec Pivot and long positions in SPI futures and Oil Search. These results produced an overall return of approximately +0.35% for the Fund. For the month of January the Fund outperformed the market (ASX200), which returned -4.88%.
