| Report Date | 15 March 2010 |
| Manager | Herschel Asset Management |
| Fund Name | Herschel Absolute Return Fund |
| Strategy | Equity Long/Short |
| Latest Return Date | February 2010 |
| Latest Return | 0.66% |
| Latest 6 Months | 5.12% |
| Latest 12 Months | 24.11% |
| Latest 24 Months | 21.73% |
| Annualised Since Inception | 16.97% |
| Inception Date | 01 May 2006 |
| FUM (millions) | AU$35 |
| 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 | Herschel attributes their Absolute Return Fund's gain of 0.66% in February to stocks including Ten Network, Westpac, BHP Billiton and Seek. On the negative side were Toll Holdings, Chemgenex Pharmaceuticals and Qantas.
Net equity market exposure for the fund, including derivatives, was reduced to 43.4% during the month. This was made up of 66.9% in long positions and 23.5% short. |
| More Information | » View detailed profile of this fund |
