NEWS
Allard Investment Fund
2 Mar 2015 - Australian Fund Monitors
Allard Investment Fund increased 5.5% during January 2015, bringing the Fund's past twelve month performance to 24.73%.
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2 Mar 2015 - Allard Investment Fund
By: Australian Fund Monitors
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| Manager Comments | In terms of industry breakdown the Fund was most exposed to Financial Services at 19.3%, Conglomerates 11.0% and Telco's with 9.5%. The geographic breakdown was Hong Kong / China at 42.5%, Singapore 11.0% and Korea 9.2%. |
| More Information | » View detailed profile of this fund |
Understanding Hedge Funds - Episode 2
2 Mar 2015 - Australian Fund Monitors
Chris Gosselin, CEO of Australian Fund Monitors explains Short Selling and how it relates to Hedge Funds.
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2 Mar 2015 - Understanding Hedge Funds - Episode 2
By: Australian Fund Monitors
Chris Gosselin, CEO of Australian Fund Monitors explains Short Selling and how it relates to Hedge Funds.
Understanding Hedge Funds - Short Selling from Australian Fund Monitors on Vimeo.
Pengana Absolute Return Asia Pacific Fund
27 Feb 2015 - Australian Fund Monitors
Pengana Absolute Return Asia Pacific Fund returned 1.03% in January. The Fund has an annual return of 11.04% with annual volatility of 5.77% and a Sharpe ratio of 1.25.
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27 Feb 2015 - Pengana Absolute Return Asia Pacific Fund
By: Australian Fund Monitors
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| Fund Overview | The Fund seeks to profit from trading securities which are primarily subject to corporate events or from trading-related securities which the Investment Manager believes are mispriced by the market. The Fund invests in securities that are listed on Asian stock markets and other markets where related securities may be listed and in securities which are listed on markets outside of Asia where more than 70% (by assets or earnings) of the underlying business originates from an Asian country. The Fund aims to generate consistently positive returns which have a low correlation to the Asian stock markets. The objective is to generate 10-20% pa with a standard deviation of 6-10% |
| Manager Comments | The Fund finished up 1.03% for the month, while Asian markets (FTSE Asia Pacific Index) rose 1.98%. Restructuring was the key word as several conglomerates reorganized themselves in the name of 'unlocking shareholder value.' The fund maintains a positive view that such restructuring will continue driving deal activity in Asia with unique trading opportunities. The Fund gross exposure was 242.5% for the month ended January as deal activity remained healthy, while net averaged 14%. |
| More Information | » View detailed profile of this fund |
Fund Review: Bennelong Kardinia Absolute Return Fund January 2015
27 Feb 2015 - Australian Fund Monitors
January Fund Review available for Bennelong Kardinia Absolute Return Fund. The fund has over eight years of positive track record. CPD Points are now available for the Fund.
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27 Feb 2015 - Fund Review: Bennelong Kardinia Absolute Return Fund January 2015
By: Australian Fund Monitors
BENNELONG KARDINIA ABSOLUTE RETURN FUND
Attached is our most recently updated Fund Review. You are also able to view the Fund's Profile.
CPD Points are now available for all AFM Fund Reviews. Read the review and answer 5 questions to earn half a point toward your continuing professional development.
- The Fund is long biased, research driven, active equity long/short strategy investing in listed ASX companies with an eight year track record.
- The Fund has significantly outperformed the ASX200 Accumulation Index since its inception in April 2006 and also has significantly lower risk KPI's. The Bennelong Kardinia Absolute Return Fund returned 1.44% in January and has volatility of 7.41% pa, compared to the ASX200 Accumulation's 14.21%.
- The Fund also has a strong focus on capital protection in negative markets. Portfolio Managers Mark Burgess and Kristiaan Rehder have significant market experience, while the Bennelong Group provide infrastructure, operational, compliance and distribution capabilities.
For further details on the Fund, please do not hesitate to contact us.
Sean Webster
Research Manager
Fund Review: Aurora Fortitude Absolute Return Fund January 2015
26 Feb 2015 - Australian Fund Monitors
Latest fund review now available for the Aurora Fortitude Absolute Return Fund, which has one of the most risk averse Key Performance Statistics of any fund in AFM's database. CPD Points available.
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26 Feb 2015 - Fund Review: Aurora Fortitude Absolute Return Fund January 2015
By: Australian Fund Monitors
AURORA FORTITUDE ABSOLUTE RETURN FUND
CPD Points are now available for all AFM Fund Reviews. Read the review and answer 5 questions to earn half a point toward your continuing professional development.
We would like to highlight the following aspects of the Fund;
- The Aurora Fortitude Absolute Return Fund (AFARF) has a 8 year track record investing in ASX listed equities. A Market Neutral overlay is used across a multi strategy approach which allows for flexible asset allocation to maximise returns and minimise risk under a variety of market conditions and cycles.CIO John Corr has over 20 years financial market experience with a strong focus on risk.
- Significant use of low risk "long" derivatives and option overlays has provided positive returns with low volatility during periods of market dislocation. Risk statistics are impressive and shows the Funds risk philosophy; over 88% of monthly performances have been positive with no losing months in 2008, the Fund's largest drawdown is -2.09% and the Sharpe ratio 1.16.
- ASX listed Aurora Funds Limited was established on the merger of three existing fund management businesses, managing approx. $230m on behalf of more than 2,500 retail and wholesale investors.
Sean Webster
Research and Database Manager
Australian Fund Monitors
Totus Alpha Fund
26 Feb 2015 - Australian Fund Monitors
Totus Alpha Fund had a strong positive return in January with 4.60% compare to the ASX200 Accumulation 3.28%.
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26 Feb 2015 - Totus Alpha Fund
By: Australian Fund Monitors
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| Fund Overview | The Fund is a long/short investment fund principally investing in listed entities, commodities, futures and options in Australia and internationally. The Fund is not a market neutral fund and accordingly may switch between net long positions and net short positions. The Fund may use short sales and derivatives. Gearing may be used to enhance returns and the Fund may be geared in excess of 100% of the Fund's Net Asset Value. There is a limit to net exposure of 150%. |
| Manager Comments | The Aussie market was less impressive when viewed in context of a 5% slump in the $A over the month, the market was actually down in $US terms. The fund continues to tilt the portfolio towards large cap stocks, yield, scarce growth and US$ exposure. We are remain generally short the commodity space. The Aussie market is up 14% since mid-December and as such we are running a relatively low net exposure (23%). Top contributors to performance in January were our long positions in Macquarie +0.71% (Financial Services), Intueri +0.67% (Scarce Growth) and Telstra +0.67% (Sustainable Yield). Biggest detractors from performance were our short positions in LNG Limited -1.23% (Promoter) and Northern Star -0.53% (Gold), whilst our long position in S&P Futures cost -1.30%. Currency wars have continued into February with our own RBA 'unexpectedly' cutting interest rates and aggressively talking down the $A. |
| More Information | » View detailed profile of this fund |
Fund Review: Optimal Australia Absolute Trust January 2015
25 Feb 2015 - Australian Fund Monitors
AFM's updated Fund Review for January shows Optimal Australian Absolute Trust Fund had low annual volatility of 3.68% compare to the ASX200 Accumulation Index with 14.47%. CPD Points available.
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25 Feb 2015 - Fund Review: Optimal Australia Absolute Trust January 2015
By: Australian Fund Monitors
OPTIMAL AUSTRALIA ABSOLUTE TRUST
AFM have released the most recently updated Fund Review on the Optimal Australia Absolute Trust.
CPD Points are now available for all AFM Fund Reviews. Read the review and answer 5 questions to earn half a point toward your continuing professional development.
We would like to highlight the following aspects of the Fund;
- Optimal Australia is a specialist Australian equity investment manager and the Fund has a long/short equity strategy typically with a low but variable net market exposure comprising 40 to 65 stocks broadly selected from within the ASX200.
- The investment team comprising George Colman, Peter Whiting supported by Stephen Nicholls and Justin Hay have over 100 years combined experience in equity markets.
- The Fund's approach to risk is shown by the Sharpe ratio of 1.36, Sortino ratio of 3.02, both of which are well above the ASX 200 Accumulation Index and has recorded 81% positive months.
For further details on the Fund, please do not hesitate to contact us.
Sean Webster
Research and Database Manager
Australian Fund Monitors
Bennelong Long Short Equity Fund
25 Feb 2015 - Australian Fund Monitors
The Bennelong Long Short Equity Fund returned 2.66% in January and has returned 17.37% annually since inception.
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25 Feb 2015 - Bennelong Long Short Equity Fund
By: Australian Fund Monitors
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| Fund Overview | In a typical environment the Fund will hold around 70 stocks comprising 35 pairs. Each pair contains one long and one short position each of which will have been thoroughly researched and are selected from the same market sector. Whilst in an ideal environment each stock's position will make a positive return, it is the relative performance of the pair that is important. As a result the Fund can make positive returns when each stock moves in the same direction provided the long position outperforms the short one in relative terms. However, if neither side of the trade is profitable, strict controls are required to ensure losses are limited. The Fund uses no derivatives and has no currency exposure. The Fund has no hard stop loss limits, instead relying on the small average position size per stock (1.5%) and per pair (3%) to limit exposure. Where practical pairs are always held within the same sector to limit cross sector risk, and positions can be held for months or years. |
| Manager Comments | The Fund's performance in January was contributed by being long Resmed / short Ansell. Specifically, Resmed's 2Q earnings result in late January highlighted a strong revenue performance across all geographies and validated traction in the recent launch of a suite of new products. Also helping performance was long Henderson's / short AMP, while long Caltex / short Metcash again was a top contributor following last month's respective profit upgrade / downgrade announcements. Negative contributors for the month came from long Beach Energy / short AGL Energy largely owing to the fall in oil price, as well as long QBE / short Suncorp despite limited news flow. |
| More Information | » View detailed profile of this fund |
Fund Review: Morphic Global Opportunities Fund January 2015
24 Feb 2015 - Australian Fund Monitors
Morphic Global Opportunities Fund returned 4.42% in January ahead of the Global Equity Index of 3.27%.
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24 Feb 2015 - Fund Review: Morphic Global Opportunities Fund January 2015
By: Australian Fund Monitors
MORPHIC GLOBAL OPPORTUNITIES FUND
Attached is our most recently updated Fund Review on the Morphic Global Opportunities Fund.
CPD Points are now available for all AFM Fund Reviews. Read the review and answer 5 questions to earn half a point toward your continuing professional development.
Key points include:
- The Fund is a global equity long/short manager with a long bias and a macro-economic overlay. The mandate allows the Fund to short sell, use derivatives and invest in assets such as commodities & currencies.
- Morphic's philosophy is that only funds with flexible investment and hedging strategies will be able to deliver acceptable, steady, real, absolute returns over the investment cycle.
- The Fund is an early stage, boutique, Sydney-based fund established in 2012 with experienced CIO's, and an investment team of 6 including a risk manager.
- The Board has a majority of independent members with significant risk and investment experience.
For further details on the Fund, please do not hesitate to contact us.
Sean Webster
Research Manager
Australian Fund Monitors
Avenir Capital Value Fund
23 Feb 2015 - Australian Fund Monitors
Avenir Capital Value Fund returned -0.13% during January 2015 with annual performance of 14.95% and volatility of 11.00% since inception.
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23 Feb 2015 - Avenir Capital Value Fund
By: Australian Fund Monitors
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| Fund Overview | The Fund will invest in securities where Avenir believes the company is simply mis-priced and deeply undervalued and offers significant potential for revaluation. The Fund will also invest in companies that are subject to specific corporate events such as mergers, acquisitions, restructurings, recapitalisations, spin-offs, demergers, management change, distressed situations, and other sharply delineated corporate events. The Fund will also selectively invest in short positions in companies where Avenir believes the company is significantly overvalued or where the company's business model is broken or structurally challenged. |
| Manager Comments | The Fund's Sharpe and Sortino ratio are 1.04 (Index 0.75) and 1.73 (Index 1.06) respectively. At month-end the Fund's geographic exposure was US 45%, W. Europe 15% Asia 16% Australia 1%, Other 7% with cash at 14%. |
| More Information | » View detailed profile of this fund |
