| Report Date | 17 November 2009 |
| Manager | Herschel Asset Management |
| Fund Name | Herschel Absolute Return Fund |
| Strategy | Equity Long/Short |
| Latest Return Date | October 2009 |
| Latest Return | 1.20% |
| Latest 6 Months | 16.60% |
| Latest 12 Months | 22.93% |
| Latest 24 Months | 20.18% |
| Annualised Since Inception | 18.72% |
| Inception Date | 01 May 2006 |
| FUM (millions) | AU$33 |
| Fund Overview | The Herschel Absolute Return Fund is a long-short Australian equities fund which is expected to average 50% net long through an investment cycle. The objective of the fund is to achieve consistent, double-digit rates of return, with an over-arching philosophy of capital protection. The Fund will usually invest in a portfolio, consisting of both long and short positions, of securities of 15 to 45 companies. |
| Manager Comments | Herschel's Absolute return fund has reported a gain of 1.2% for October, largley due to investments in Galaxy Resources, Share Price Index Futures, Ten Network and Virgin Blue. Detractors from performance included Macquarie Group, Boart Longyear and Oil Search.
Toward the end of the month the fund adopted a more defensive position, reducing its net equity market exposure to 38.8%, of which 85% was long and 46% short. |
| More Information | » View detailed profile of this fund |
