| Report Date | |
| Manager | |
| Fund Name | |
| Strategy | |
| Latest Return Date | |
| Latest Return | |
| Latest 6 Months | |
| Latest 12 Months | |
| Latest 24 Months (pa) | |
| Annualised Since Inception | |
| Inception Date | |
| FUM (millions) | |
| Fund Overview | Harvest Lane Asset Management employs a conservative, highly selective and opportunistic approach. Using their extensive knowledge in the area of corporate actions, the Fund's managers assess each opportunity based on a thoughtful, diligent and disciplined process and invest where they believe an opportunity exists to generate above average investment returns relative to the risk incurred. Investment decisions are made without speculating on market direction, with rigid risk controls enforced to minimise the risk of large losses of investor capital. The Fund invests in securities that are predominantly listed on the ASX and occasionally in those listed in other developed markets. Equity swaps and other derivatives may be used at times to reduce risk. The fund typically holds high levels of cash in the absence of sufficiently attractive opportunities to deploy investor capital in accordance with its objectives. |
| Manager Comments | Harvest Lane noted that, while confidence is returning to M&A, they believe it is still lower than justified. The market's unwillingness to pay up has allowed Harvest Lane to add exposure certain positions. They also noted they continue to see numerous opportunities to underpin performance in the months ahead; corporate activity continues to run hot, deal completion rates are returning to normal, transaction spreads remain (unjustifiably) elevated, and 'deal sweeteners' and contested bids are emerging in an effort to secure desired assets. Harvest Lane reiterate their belief that there remains considerable opportunity for the Fund's strategy in the months ahead. They continue to remain active with the portfolio almost fully invested, deal flow remains strong and transaction yields remain attractive. |
| More Information |
