| Report Date | 14 December 2009 |
| Manager | TechInvest |
| Fund Name | TI Intercept Capital Fund |
| Strategy | Equity Market Neutral |
| Latest Return Date | November 2009 |
| Latest Return | 4.39% |
| Latest 6 Months | 7.20% |
| Latest 12 Months | 8.24% |
| Latest 24 Months | 24.35% |
| Annualised Since Inception | 9.75% |
| Inception Date | 31 March 2004 |
| FUM (millions) | AU$14 |
| Fund Overview | Intercept Capital Fund is a long/short (market-neutral), fund that invests in global equities. The managers are targeting high absolute returns. The TechInvest investment process is a combination of sound financial theory and practical experience in valuing global companies. It is based on the calculation of a fair price from discounting risk-adjusted future cash flows. The fund is typically market and currency neutral, with currency exposures generally brought into AUD. The portfolio holdings, long and short, are diversified across up to 40 companies. The portfolio theme centres on the ability of companies to manage change. |
| Manager Comments | Techinvest's Intercept Capital Fund has reported a positive return of 4.39% for November with the main contributors being a long position in Synaptics and short positions in Diebold and Hitachi.
Short positions in Merck & Co, Omnivision Technologies and United Technologies all lost money during the month.
At the end of the month Techinvest's portfolio favoured companies in Software & Services, Wireless and Internet and Biotechnology. Net short positions were held in the Hardware & Equipment, Diversified and Industrial Technology sectors. |
| More Information | » View detailed profile of this fund |
