| Report Date | 17 January 2010 |
| Manager | Regal Funds Management |
| Fund Name | Regal Amazon Market Neutral Fund |
| Strategy | Equity Market Neutral |
| Latest Return Date | December 2009 |
| Latest Return | -2.60% |
| Latest 6 Months | 25.49% |
| Latest 12 Months | 38.61% |
| Latest 24 Months | 27.15% |
| Annualised Since Inception | 24.19% |
| Inception Date | 17 June 2005 |
| FUM (millions) | US$60 |
| Fund Overview | The Amazon Market Neutral Fund aims to generate positive returns, with low levels of risk. The Fund attempts to be uncorrelated with equity market and targets volatility of less than 15%. Risk limits (stock, sector, liquidity, etc) are maintained to help achieve this volatility target. Though its investments are global, Regal aims to have over half of its investments in the Asian region, with a heavy emphasis on Australia. Investments are concentrated in sectors where the investment manager believes he has an advantage (through superior research and/or analysis). Research and analysis are conducted from a fundamental basis. Investments are viewed from both a bottom-up and top-down perspective. Catalysts are identified where possible. Most hedging is done through single stocks. The Fund has the flexibility to invest (both long and short) in a wide range of investment instruments including, but not limited to, all types of equity, debit and hybrid securities, foreign exchange, options, warrants, futures and derivatives. |
| Manager Comments | The fund manager notes that Regal's Amazon Market Neutral Fund had a slightly disappointing finish to the year slipping -2.60%, although this still leaves the fund with positive growth over the last 12 months of 38.61%.
Long positions held by the fund performed well but the overall result for the month was dragged down by losses on short positions. Some of the biggest losers were companies in the Basic Materials and Industrials sectors which had performed well in previous months. |
| More Information | » View detailed profile of this fund |
