Aurora Fortitude Absolute Return Fund

14 Feb 2013 - Australian Fund Monitors

Aurora Fortitude delivers -0.19% during January, a difficult month for absolute return funds.

Bennelong Long Short Equity Fund Performance Report

14 Feb 2013 - Australian Fund Monitors

The Bennelong Long Short Equity Fund delivers 0.46% in January resulting in a total of 11.99% for the previous 12 months.

NAOS Long Short Equities Fund

13 Feb 2013 - Australian Fund Monitors

The NAOS Long Short Equity Fund delivers 21.4% during January bringing the 12 month return to 42.02%.

Apeiron Global Macro Trust - Class A

12 Feb 2013 - Australian Fund Monitors

The Blue Sky Apeiron Global Macro Trust delivers 3.85% in January in a'risk-on' environment.

Optimal Australia Absolute Trust

11 Feb 2013 - Australian Fund Monitors

Optimal Australia's Absolute Trust returns 0.46% in January but believes real value remains difficult to find

11 Feb 2013 - Optimal Australia Absolute Trust

By: Australian Fund Monitors

Report Date	07 February 2013
Manager	Optimal Fund Management Australia
Fund Name	Optimal Australia Absolute Trust
Strategy	Equity Long/Short
Latest Return Date	January 2013
Latest Return	0.46%
Latest 6 Months	2.64%
Latest 12 Months	3.46%
Latest 24 Months	11.99%
Annualised Since Inception	12.42%
Inception Date	15 September 2008
FUM (millions)	AU$136
Fund Overview	The investment objective of the Fund is to seek to achieve above average returns in absolute terms, through investing in listed securities in Australia and New Zealand, subject to the overarching requirement of capital preservation. Investments will predominantly be in equity securities but may include fixed interest instruments, money market instruments, derivatives and foreign exchange contracts. The Fund's bias is likely to be net long under normal market conditions, with the core strategy being to construct a portfolio of listed equity securities priced at levels that do not adequately reflect their underlying value. The Fund will seek to boost returns and limit potential market downside by selective short selling of individual stocks which are priced at levels that are viewed as materially above their underlying value. The Fund will also use certain trading strategies both within its core portfolio (through rebalancing stock weights and overall market exposure in response to price movements) and in certain other situations (typically of a shorter-duration and/or opportunistic nature) with the objective of further increasing returns.
Manager Comments	Optimal Australia's Absolute Trust managed a gain of 0.46% in January against a backdrop of fully valued quality stocks, and on fundamentals at least some overvalued average ones. In Optimal's view money flows swamped all other equity market considerations including valuations, earnings risk and rising bond yields. Stocks that were at fair, or full value became expensive, and those that were already overvalued, and therefore candidates for the short book, became more so. As such Optimal finds this a considerable dilemma from a portfolio construction perspective as fundamental value investors, being reluctant to short overvalued stocks in the face of the current momentum and weight of money buying. As a result both gross and net exposure of the portfolio remain relatively low at 56% and 3% respectively.
More Information	» View detailed profile of this fund

Bennelong Kardinia Absolute Return Fund

6 Feb 2013 - Australian Fund Monitors

Bennelong Kardinia's Absolute Return Fund delivers a return of 2.21% during January, their eighth consecutive positive month.

6 Feb 2013 - Bennelong Kardinia Absolute Return Fund

By: Australian Fund Monitors

Report Date	05 February 2013
Manager	Bennelong Group
Fund Name	Bennelong Kardinia Absolute Return Fund
Strategy	Equity Long/Short
Latest Return Date	January 2013
Latest Return	2.21%
Latest 6 Months	8.15%
Latest 12 Months	14.79%
Latest 24 Months	13.99%
Annualised Since Inception	14.18%
Inception Date	01 May 2006
FUM (millions)	AU$43.4
Fund Overview	The Kardinia Absolute Return Fund is an Australian domiciled equity long/short fund investing in ASX listed securities. The Fund uses exchange traded call options and SPI futures contracts to hedge overall market risk. The Fund consists of a concentrated long/short portfolio typically comprising 30 to 40 ASX 300 listed stocks, generally with a long bias aligned to the overall market direction. There is a slight bias to large cap stocks in the long side of the portfolio, although in a rising market the portfolio will tend to hold smaller caps, including resource stocks, more frequently. The Fund was launched on 17th August 2011 following the resignation of Portfolio Managers Mark Burgess and Kristiaan Rehder from Herschel Asset Management in late July 2011. While at Herschel Burgess and Rehder had managed the Fund under the name of the Herschel Absolute Return Fund. As a result management of the Fund was transferred to Kardinia Capital, a new boutique fund manager 65% owned by Burgess and Rehder, with the balance owned by Bennelong Funds Management. The Fund's investment strategy and prior track record remains intact.
Manager Comments	Bennelong Kardinia delivered 2.21% over January, their 8th consecutive positive performance taking annualised return since inception (May '06) to 14.2%. The Manager notes the market advance was broad-based and that cyclicals out-performed the defensive sectors with consumer discretionary, media, financials and retail all moving up strongly. Weaker(defensive) sectors were utilities and healthcare. The fund holdings in News, NAB, Telstra, ANZ, Henderson and IOOF all performed strongly on the long side. Performance was held back by short positions, a number of which were closed or reduced over January. Gross exposure was up sharply to 70.7% for a net exposure of 45.9%, composed of 58.3% long and 12.4% short . Toward the end of the month the fund invested in puts and futures to hedge market risk after the very strong rally in January.
More Information	» View detailed profile of this fund

Microequities Deep Value Microcap Fund

5 Feb 2013 - Australian Fund Monitors

Microequities Deep Value Microcap Fund delivers 5.02% during January and out-performs the Index by 18.7% over the year.

K2 Select International Absolute Return Fund

4 Feb 2013 - Australian Fund Monitors

The K2 Select International Absolute Return Fund delivers 2.74% during January and 16.95% over the last 12 months.

4 Feb 2013 - K2 Select International Absolute Return Fund

By: Australian Fund Monitors

Report Date	04 February 2013
Manager	K2 Asset Management
Fund Name	K2 Select International Absolute Return Fund
Strategy	Equity Long/Short
Latest Return Date	January 2013
Latest Return	2.74%
Latest 6 Months	13.66%
Latest 12 Months	16.95%
Latest 24 Months	5.83%
Annualised Since Inception	10.33%
Inception Date	01 January 2005
FUM (millions)	AU$223.3
Fund Overview	K2 Select International Absolute Return Fund invests in global equities on a long/short, opportunistic trading basis. The K2 Select International fund is an AUD-denominated unit trust., Its strategy combines macro asset allocation with multi-variable stock selection. Internal and external research is extensive. K2 limits single-security exposure to 10% of the fund's NAV on a cost basis., Gearing is employed at a maximum of two times, mainly used to reduce net long exposure. The fund has a long bias, targeting 50% to 60% net long over an investment cycle. Cash positions have exceeded 50% and been as low as 5%. 50 to 70 positions are typically held., The management employs several stop-loss measures, including a stop-loss policy of 10% on shorts.
Manager Comments	The K2 Select International Absolute Return Fund delivered 2.74% during January and 16.95% over the last 12 months - in line with the MSCI AC World Index A$. The fund maintained a net equity exposure of 95 - 100% for January benefiting fully from strong global markets. On a regional basis the fund did best from the US, Australia and Europe. At a stock level some of the fund's previous strong performers took a breather, notable was Samsung suffering from the strong Korean Won. On the positive side, stock winners came from cheap US gas plays and pipeline stocks. Looking ahead the fund has a positive view on equities as risk appetite and economic growth improve, driven by loose monetary policy. In addition, equity valuations are low versus cash and bonds and therefore have space to run.
More Information	» View detailed profile of this fund

Morphic Global Opportunities Fund

1 Feb 2013 - Australian Fund Monitors

Morphic records a 3.13% gain during December, 0.37% above the MSCI World Index in $A.

1 Feb 2013 - Morphic Global Opportunities Fund

By: Australian Fund Monitors

Report Date	31 January 2013
Manager	Morphic Asset Management
Fund Name	Morphic Global Opportunities Fund
Strategy	Equity Long/Short
Latest Return Date	December 2012
Latest Return	3.13%
Latest 6 Months
Latest 12 Months
Latest 24 Months
Annualised Since Inception	26.95%
Inception Date	02 August 2012
FUM (millions)	AU$18
Fund Overview	The Fund will primarily consist of Global listed shares, and will generally have at least 50% of its net assets invested in these. It may also have short positions in shares that the Manager believes are over-valued, and likely to fall in price, as well as long and short positions in index futures and other derivatives, fixed interest instruments, commodities, credit instruments and currencies.
Manager Comments	Morphic reported a return of 3.13% during December and 3.00% for the quarter. Since inception in August the fund has recorded a return of 10.46%, 0.42% above the MSCI All Countries World Index in $A. Major gains for the month came from finance sector holdings led by an Indian Bank basket. Other themes contributing were the basket of Japanese drugstore chains and the holdings in US home-builders. The tilt to emerging markets also contributed to performance. Losses came from a range of individual investments including online gaming, insurance and a short in US tourism e-commerce. The fund missed some of the Japanese market rally as its holdings were mainly in domestic orientated stocks while the market rally was driven by exporters. However the currency impact of the weaker Yen was reduced by hedging. The fund is largely un-hedged back into Australian dollars as the manager does not see the currency appreciating substantially from $1.05. The fund's outlook is evidenced by its sector diversification, overweight to developing markets and hedging to reduce tail-risks / extreme market events.
More Information	» View detailed profile of this fund

BlackRock Australian Equity Market Neutral Fund

1 Feb 2013 - Australian Fund Monitors

Blackrock's Equity Market Neutral Fund returns 0.78% during December and 10.55% over 2012, well above the cash benchmark rate of 3.7%.

1 Feb 2013 - BlackRock Australian Equity Market Neutral Fund

By: Australian Fund Monitors

Report Date	31 January 2013
Manager	BlackRock Asset Management Australia Limited
Fund Name	BlackRock Australian Equity Market Neutral Fund
Strategy	Equity Market Neutral
Latest Return Date	December 2012
Latest Return	0.78%
Latest 6 Months	2.53%
Latest 12 Months	10.55%
Latest 24 Months	36.99%
Annualised Since Inception	12.52%
Inception Date	31 August 2001
FUM (millions)
Fund Overview	The BlackRock Australian Equity Market Neutral Fund aims to deliver returns that are 8% per annum above those of the RBA Cash Rate Target before fees, over rolling 3 year periods. The Fund's portfolio primarily consists of long and short Australian equity positions. The Fund may also invest in other funds managed by BlackRock. Derivative securities, such as futures, forwards, swaps and options, can be used to manage risk and return Key insights into the investment process include: - Analyst Expectations - Relative Valuation - Earnings Quality - Market Signals - Timing Short-Term return enhancing opportunities including: - Dividend reinvestment plans - Manging index changes - Managing cash flows - Arbitrage - Initial public offerings and Seasoned Equity Offerings - Off Market Buybacks
Manager Comments	Blackrock's Equity Market Neutral Fund delivered a return of 0.78% during December and 10.55% over 2012. This brings the fund's two year return to a notable 36.99%. The Australian equity market had a strong fourth quarter, rising 6%. This was driven by reduced fears of a hard landing in China, improved commodity prices and hopes for a resolution to the US fiscal problem. Within the market high yield stocks were strong as investors sought yield. The portfolio benefited from strong consumer cyclical performance with the portfolio benefiting from this strength through holdings in QAN, FLT and SUL. Metals and mining exposures also made a positive contribution to the portfolio through short positions in poorly performing mining stocks. Other positive contributions came from under-weights to insurance and favorable stock selections in healthcare. Within signals Relative Valuation was the strongest contributor with Market Signals the only signal delivering negative return.
More Information	» View detailed profile of this fund

Search for:
Fund:	Type a few letters to search
Manager:
Publish Dates:	From: To:

Fund Monitors Pty Ltd

News

NEWS

14 Feb 2013 - Aurora Fortitude Absolute Return Fund

14 Feb 2013 - Bennelong Long Short Equity Fund Performance Report

13 Feb 2013 - NAOS Long Short Equities Fund

12 Feb 2013 - Apeiron Global Macro Trust - Class A

11 Feb 2013 - Optimal Australia Absolute Trust

6 Feb 2013 - Bennelong Kardinia Absolute Return Fund

5 Feb 2013 - Microequities Deep Value Microcap Fund

4 Feb 2013 - K2 Select International Absolute Return Fund

1 Feb 2013 - Morphic Global Opportunities Fund

1 Feb 2013 - BlackRock Australian Equity Market Neutral Fund

Category

Search

Events Calendar