| Report Date | 16 February 2010 |
| Manager | Fortitude Capital |
| Fund Name | Fortitude Capital Absolute Return Trust |
| Strategy | Equity Market Neutral |
| Latest Return Date | January 2010 |
| Latest Return | 0.44% |
| Latest 6 Months | 2.16% |
| Latest 12 Months | 6.15% |
| Latest 24 Months | 17.87% |
| Annualised Since Inception | 10.71% |
| Inception Date | 15 February 2005 |
| FUM (millions) | AU$25 |
| Fund Overview | Fortitude Capital Absolute Return Trust is a multi-strategy market neutral fund specialising in listed Australian equities and derivatives. The core philosophy is the management of risk through a long volatility overlay incorporating listed equity and index derivatives. The multi-strategy approach includes M&A, Yield, Convergence and Long/Short strategies. The portfolio managers adopt an aggressive approach to managing downside risk whilst positioning the portfolio to benefit from positive alpha. |
| Manager Comments | Fortitude Capital's Absolute Return Trust generated a positive return of 0.44% in January with the fund's Mergers and Acquisitions portfolio making the largest contribution, in which the fund's largest position remains in Indophil resources.
The fund's Options portfolio was smaller than it has been historically, however was still a major contributor during the month. Within this the major contributors were Commonwealth Bank, Rio Tinto and the Share Price Index Futures. Fortitude plans to build this part of the portfolio as credit spreads widen and concerns about sovereign debt and regulation increase. |
| More Information | » View detailed profile of this fund |
