The Antares Lodestar Absolute Return Trust lost -0.14% in May after the manager lowered exposure during the month, thereby preventing the Trust from capitalising on the market rally in late May.
1 yr return: -23.82%. Annual (Mar 2007): -7.47%
Until May 30 the Trust's return was in line with the market, however with the market rallying +1.7% on May 31, and the Trust reducing its net exposure from 30% to 20.7% over May, overall return underperformed the market. The key positive contributors to performance included Sino Gold, Village Roadshow and Ramsay Healthcare. Negative influences included Resmed, Tatts Group and CSL.
