| 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 | The primary objective of the Atlantic Pacific Australian Equity Fund is to generate a mixture of capital and income returns for investors with a high risk profile, over a 5 to 7 year investment period. The Investment Manager believes that markets are fundamentally inefficient and that active investment management will result in higher than 'benchmark' returns. The Fund has adopted the S&P/ASX200 Accumulation Index as the benchmark for its performance. The Investment Manager also believes that, on review of many markets globally, no individual style or method of investing will always ensure outperformance in terms of return on investment. In light of this, the Investment Manager may adopt a 'value', 'growth' or 'momentum' style bias, for example, depending on where the market is in its investment cycle. Further, the Investment Manager believes that actual and forecasted events underpin absolute and relative price movements of securities. The Investment Manager will utilise a number of frameworks to assist in positioning the Fund's portfolio of investments. These include fundamental research, quantitative analysis, and macro and catalyst research. |
| Manager Comments | The Fund returned -3.78% in March. Top contributors included Computershare (long), Sonic Healthcare (long), Telstra (long), and Whitehaven Coal (long). Key detractors included Mesoblast (long), Norwood Systems (long), SPI Futures (long), and Terracom (long). APSEC noted valuation remain elevated and believe this should be considered in light of the rising bond environment. They emphasise that they don't see the Fund's strategy as a 'market mirror' as was witnessed last year, instead they see it as a satellite portfolio to smooth out returns over the long-run. They have seen drawdowns like this in the past and expect to iron them out over the coming year. |
| More Information |
