| Report Date | 23 November 2009 |
| Manager | Wingate Investment Managers |
| Fund Name | AUI Wingate Global Equity Income Fund |
| Strategy | Equity Income |
| Latest Return Date | October 2009 |
| Latest Return | -1.15% |
| Latest 6 Months | -0.08% |
| Latest 12 Months | -2.18% |
| Latest 24 Months | -15.79% |
| Annualised Since Inception | 3.89% |
| Inception Date | 01 October 2005 |
| FUM (millions) | AU$42 |
| Fund Overview | The Wingate Global Equity Income Fund is a specialised global equities Fund investing in large cap, high quality companies using an investment process designed to reduce risk and generate income. The Fund primarily invests in global equities, either directly or via derivatives, to generate income from dividends and option premiums, and capital growth. Preservation of investors' capital is an overriding priority. The Fund typically has between 14 and 40 holdings (stock and options) and can invest 100% of its assets in international equities. The Fund restricts exposure to any individual company to a maximum of 15% of the net assets of the Fund. |
| Manager Comments | The Wingate Global Equity Income Fund saw a small loss of 1.15% in October and over the last year remains down 2.18%. However this is significantly better than the fund's benchmark MSCI World (ex Australia) which fell 4.14% in the month and is down 14.53% over the last 12 months.
The manager said that a significant performance headwind for both the fund and its benchmark was generated by a combination of the weak equity market and stronger Australian dollar.
Major contributors to the fund's performance included oil and gas companies BP and ConocoPhillips on the back of strong earnings announcements. During the month the manager increased exposure to McDonalds as well as two healthcare equipment providers, CR Bard and Becton Dickinson, all of which the manager believes exhibit attractive valuations, well established market positions and strong cash flows. |
| More Information | » View detailed profile of this fund |
