| Report Date | 21 April 2010 |
| Manager | Herschel Asset Management |
| Fund Name | Herschel Absolute Return Fund |
| Strategy | Equity Long/Short |
| Latest Return Date | March 2010 |
| Latest Return | 4.36% |
| Latest 6 Months | 5.62% |
| Latest 12 Months | 27.24% |
| Latest 24 Months | 26.82% |
| Annualised Since Inception | 17.86% |
| Inception Date | 01 May 2006 |
| FUM (millions) | AU$37 |
| 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 saw their Absolute Return Fund gain 4.36% in March with holdings in Fairfax Preference shares, Ten Network, Westpac and Virgin Blue all making positive contributions. Detracting from the fund's performance were Share Price Index Futures (hedging long positions) and Downer EDI.
At the end of the month net equity market exposure (including derivatives) for the fund stood at 50.5% (73.2% long and 22.7% short). |
| More Information | » View detailed profile of this fund |
