| Report Date | 11 February 2010 |
| Manager | AR Capital Management |
| Fund Name | AR Capital - Ascot Fund |
| Strategy | Equity Long/Short |
| Latest Return Date | January 2010 |
| Latest Return | -2.45% |
| Latest 6 Months | 4.66% |
| Latest 12 Months | 17.81% |
| Latest 24 Months | 23.85% |
| Annualised Since Inception | 13.79% |
| Inception Date | 01 August 2005 |
| FUM (millions) | AU$88 |
| Fund Overview | The Ascot Fund is an absolute return fund with long/short capability, investing in Australian/NZ equities, derivatives and hybrid instruments with a focus on the ASX 200. Fundamental analysis, market timing and risk management are essential components of the fund's strategy. The fund manager, AR Capital Management (ARCM), has an investment team with over 50 years' aggregate market experience, and the owners of ARCM account for approximately 20% of the total units in the fund. |
| Manager Comments | The manager said that ARCM's Ascot Fund fall of 2.45% in January was disappointing, although against a backdrop of a more than 6.2% fall in the Australian equity market the fund achieved a solid result.
During January ARCM increased the fund's exposure to Australian banks which the manager believes is supported by the positive earnings update from the Commonwealth bank on January 15th. However bank long positions (Westpac, Commonwealth and the ANZ) were negative contributors for the month, along with Downer EDI, BHP, Rex Minerals, Karoon Gas, Qantas and newcrest Mining. Positive contributors were a short position in Woolworths and long positions in Macquarie Bank and Willmott Forests. |
| More Information | » View detailed profile of this fund |
