Pengana's Australian Equity Long Short fund outperformed the ASX with a return of 8.5% in July, to bring 2009 YTD performance to 24.52%.
Like many of their long biased peers, Pengana's Australian L/S equity fund has rebounded strongly on the back of the sharp rally in equities to produce a YTD performance of 24.52% and an annualized return since inception in May 2004 of 9.29%.
Pengana noted that they had deliberately avoided aggressive shorting in recent times but intend to resume as the opportunities arise on a selective basis, as the domestic reporting season commenced. At the time of writing the portfolio has a 53% net equity market exposure.
