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| 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 August's lull in corporate activity didn't last long, with positive performance carried through into September. They believe September's performance best exemplifies what can go right with the strategy: numerous positions within the portfolio received higher offers, many of which occurred in positions for which Harvest Lane had a full size holding. Their view is that the market continues to throw risk arbitrage in the too hard basket, guided by sentiment rather than proper assessment, and substantial discount to terms persist in market (particularly so in scrip based transactions). Harvest Lane's outlook is still positive as compelling returns remain on offer. There are several positions carried through into October very close to completion that still trade at a meaningful discount and they expect these to provide a solid platform to continue the recent momentum. |
| More Information |
