| Report Date | |
| Manager | |
| Fund Name | |
| Strategy | |
| Latest Return Date | |
| Latest Return | |
| Latest 6 Months | |
| Latest 12 Months | |
| Latest 24 Months (pa) | |
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| Inception Date | |
| FUM (millions) | |
| Fund Overview | The Fund aims to produce returns after management fees and expenses of RBA Cash Rate + 4.0-5.0% p.a. over rolling five-year periods. Furthermore, the Fund aims to achieve these returns with volatility that is a fraction of the Australian equity market, in order to smooth returns for investors. |
| Manager Comments | The Fund's capacity to limit capital loss in falling markets is highlighted by the following statistics (since inception): Sortino ratio of 1.09 vs the Index's 0.45, maximum drawdown of -8.77% vs the Index's -26.75%, and down-capture ratio of 13.93%. NWQ noted August reporting season presented numerous opportunities for the underlying managers to deliver stock-specific alpha on both the long (companies that beat expectation and re-rated) and short (companies that missed expectations and derated) sides of their portfolios. The Fund continues to maintain a low net market exposure to protect capital in the event of a sustained market selloff. NWQ believe the current market environment continues to present a rich opportunity set for the Fund's underlying managers. They added that these managers have benefited in recent months from the clear and present themes in the market around the winners and losers from COVID-19, elevated return dispersion among stocks within the index and heightened levels of corporate activity. NWQ expect these features of the current environment to continue and believe the Fund is well positioned to capitalise on the rich opportunity set for long/short investing. |
| More Information |
