| Report Date | 17 November 2009 |
| Manager | Fortitude Capital |
| Fund Name | Fortitude Capital Absolute Return Trust |
| Strategy | Equity Market Neutral |
| Latest Return Date | October 2009 |
| Latest Return | 0.82% |
| Latest 6 Months | 4.27% |
| Latest 12 Months | 5.68% |
| Latest 24 Months | 19.26% |
| Annualised Since Inception | 11.02% |
| Inception Date | 15 February 2005 |
| FUM (millions) | AU$25 |
| Fund Overview | Fortitude Capital Absolute Return Trust is a multi-strategy market neutral fund specialising in listed Australian equities and derivatives. The core philosophy is the management of risk through a long volatility overlay incorporating listed equity and index derivatives. The multi-strategy approach includes M&A, Yield, Convergence and Long/Short strategies. The portfolio managers adopt an aggressive approach to managing downside risk whilst positioning the portfolio to benefit from positive alpha. |
| Manager Comments | Fortitude's monthly report again showed the benefits of their multi strategy approach, with positive results coming from the Yield, Merger and Acquisition, Convergence and Derivative books, offset marginally by small losses in the Long/Short and Small Caps.
Fortitude remains the stand out Australian manager when it comes to protecting downside risk, having only recorded four negative months in the four and a half years since inception, and a maximum drawdown of just 0.58% |
| More Information | » View detailed profile of this fund |
