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| Fund Overview | The Fund is managed as one portfolio but comprises and combines two separately managed exposures: 1. An investment in the top 20 stocks of the markets, which the Fund achieves by taking an indexed position in the S&P/ASX 20 Index; and 2. An investment in the stocks beyond the S&P/ASX 20 Index. This exposure is managed on an active basis using a fundamental core approach. The Fund may also invest in securities expected to be listed on the ASX, securities listed or expected to be listed on other exchanges where such securities relate to ASX-listed securities.Derivative instruments may be used to replicate underlying positions and hedge market and company specific risks. The companies within the portfolio are primarily selected from, but not limited to, the S&P/ASX 300 Accumulation Index. The Fund typically holds between 40-55 stocks and thus is considered to be highly concentrated. This means that investors should expect to see high short-term volatility. The Fund seeks to achieve growth over the long-term, therefore the minimum suggested investment timeframe is 5 years. |
| Manager Comments | The Fund has achieved up-capture and down-capture ratios (since inception) of 124% and 96% respectively, demonstrating its ability to outperform in both rising and falling markets. As at the end of March, the portfolio's weightings had been increased in the Discretionary, Communication, REIT's and Financials sectors, and decreased in the IT, Industrials and Health Care sectors. Relative to the ASX300, the Fund is significantly overweight the Discretionary sector (Fund weight: 33.6%, benchmark weight: 8.0%. The Fund's sector exposures will deviate from the benchmark only to the extent that the actively managed investment in ex-20 stocks results in an over or under-weighting position to any particular sector. |
| More Information |
