| Report Date | 16 February 2010 |
| Manager | Herschel Asset Management |
| Fund Name | Herschel Absolute Return Fund |
| Strategy | Equity Long/Short |
| Latest Return Date | January 2010 |
| Latest Return | -3.82% |
| Latest 6 Months | 9.03% |
| Latest 12 Months | 22.46% |
| Latest 24 Months | 22.27% |
| Annualised Since Inception | 17.17% |
| Inception Date | 01 May 2006 |
| FUM (millions) | AU$33 |
| Fund Overview | The Herschel Absolute Return Fund is a long-short Australian equities fund which is expected to average 50% net long through an investment cycle. The objective of the fund is to achieve consistent, double-digit rates of return, with an over-arching philosophy of capital protection. The Fund will usually invest in a portfolio, consisting of both long and short positions, of securities of 15 to 45 companies. |
| Manager Comments | The manager attributes the fund's -3.84% result for January to overweight exposure to the Materials sector with large positions in BHP, Rio Tinto and Westpac the main contributors to the fall. The main positive contributions for the month were made by Share Price Index Futures contracts (hedging longs), Fairfax Convertible Prefs and a short in David Jones. |
| More Information | » View detailed profile of this fund |
