| Report Date | 07 March 2010 |
| Manager | Austral Capital |
| Fund Name | Austral Equity Fund |
| Strategy | Event Driven |
| Latest Return Date | February 2010 |
| Latest Return | 1.28% |
| Latest 6 Months | 6.32% |
| Latest 12 Months | 15.61% |
| Latest 24 Months | 22.02% |
| Annualised Since Inception | 13.43% |
| Inception Date | 01 September 1997 |
| FUM (millions) | AU$15 |
| Fund Overview | Austral Equity Fund invests primarily in the securities of Australian companies that are, or may be, involved in special situations or corporate events. Such events may include equity and hybrid security issues, block trades, mergers and takeovers, de-mergers, reconstructions, recapitalisations and spin-offs. The fund also invests generally in equity, debt and other securities, and opportunistically in the securities of companies undergoing significant changes involving management, shareholders or the underlying business. 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, debt and hybrid securities, foreign exchange, options, warrants, futures and derivatives. |
| Manager Comments | The Austral Equity Fund returned +1.28% in a month where volatility in indivudual securities was very high as the market responded to the release of earnings reports and economic outlooks. The manager said that while ''stock specific themes took priority over macro factors, sentiment appears quite fragile as evidenced by the near 100 points intra-day index trading range on the 25th of February as media reports about Greece's debt issues unnerved the market''.
During January the fund maintained a long equity bias due to improving corporate fundamentals but also increased its exposure to interest rate securities in order to take advantage of the yield differential over the return earned on the fund's cash holdings. |
| More Information | » View detailed profile of this fund |
