Foreign exchange specialist Excalibur Funds Management completed its three year track record in June. The Absolute Return Fund which uses a combined systematic and discretionary investment process has an annualised return of 19.7%.
The manager makes extensive use of options to protect downside risk. "It's been a tough environment in currencies over the past 12 months, we've really had to focus on managing the risks for investors," commented Excalibur principal Matthew Harper. The Fund has a three year risk adjusted return (Sharpe ratio) of 1.37.
Excalibur received strong inflows during the month with assets under management topping AUD$100mn. A further AUD$40mn of capacity has been locked in by a Hong Kong based Fund of Fund. The manager plans a hard close at AUD$300mn.
