| Report Date | 22 February 2010 |
| Manager | Ascalon Capital Managers |
| Fund Name | Ascalon Income Fund |
| Strategy | Fixed Income |
| Latest Return Date | January 2010 |
| Latest Return | -1.24% |
| Latest 6 Months | 8.28% |
| Latest 12 Months | 16.16% |
| Latest 24 Months | -0.52% |
| Annualised Since Inception | -1.28% |
| Inception Date | 01 September 2007 |
| FUM (millions) | AU$26 |
| Fund Overview | Kaplan Funds Management Pty Limited (Kaplan) is the investment manager of the Fund. Kaplan commenced managing fund in May 1998 with an absolute return philosophy, providing investment trusts for the professional investor market and charities, an equities pooled super trust and discrete equity mandates for corporate clients. Kaplan is wholly owned by Kaplan Partners Pty Limited. Kaplan's funds under management have grown consistently and are presently in excess of $1.5 billion. Kaplan's management team has considerable experience in investment management, including investment in infrastructure, utilities and hybrid securities. Kaplan has achieved above-average returns for investors over a number of market cycles through patient investing and by focusing on value opportunities and a disiplined approach to risk. The Ascalon Income fund aims to provide a secure, reliable income stream that delivers a return in excess of the 1 year interest rate swap, by investing in high yielding securities such as hybrid securities (fixed and floating), listed unsecured fixed interest investments, property trusts, preference shares, utilities and infrastructure stocks and high yielding ordinary shares, particularly bank shares. |
| Manager Comments | The Ascalon Income Fund lost 1.24% in January against its benchmark (1 year swap +0.75%) return of +0.39% and the ASX200's return of -6.18%.
During the month the fund increased its buy and write positions in the Commonwealth Bank and Woolworths. Positions in WBC and NCM were reduced through the exercise of option positions delivering the maximum return under the buy and write strategy. |
| More Information | » View detailed profile of this fund |
