The Antares Lodestar Absolute Return Trust posted its first positive month of performance of 2009 in March, gaining +3.63%.
The result was led by very strong returns in positions in Lend Lease, Clough Limited and Origin Energy. Lend Lease rebounded from its capital raising in February, while Clough benefited from a re-rating due to solid returns, and Origin rose on expectations that it would take a greater stake in the Otway gas project. The main negative influences on the March result were Telstra, due to events surrounding the NBN proposal, and Westfield Group.
