NEWS
Nanuk Global Alpha Fund
4 Sep 2014 - Australian Fund Monitors
Nanuk Global Alpha Fund returned -1.26% in July and 17.01% for the prior 12 months with a volatility of 8.95%.
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4 Sep 2014 - Nanuk Global Alpha Fund
By: Australian Fund Monitors
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| Fund Overview | In 2013 Nanuk started to expand the focus of the fund away from just energy and include other industries related to the overarching theme of environmental sustainability, specifically water, waste, recycling, pollution control and agriculture. Nanuk is now investing across a universe in excess of 600 stocks and an aggregate market capitalisation over US$2 trillion. This was a logical move because, while the industries themselves are different, their characteristics and long term drivers are very similar. Nanuk has identified a large, diverse global universe of companies positively exposed to these shifts. Nanuk combines deep fundamental research into these companies with detailed analysis of technological development, policy direction and related economics within each of the relevant sectors to identify profitable trends and opportunities suitable for inclusion in the Fund. Nanuk's principal strategy is to invest, long and short, in securities that are mis-priced on an absolute or relative basis. The Fund aims to achieve long term capital appreciation while reducing volatility of returns and risk of capital loss through appropriate hedging and risk management strategies. |
| Manager Comments | At month-end the Fund was 54% long, 52% short for a gross exposure of 104% and net exposure of 2%. The Fund finished the month down 1.3%. Positive contributions from short positions in a number of expensive European and US stocks and long positions in fuel cell and solar inverter manufacturers were offset by losses on some of the Fund's LED solid state lighting and solar positions which continue to show high levels of volatility. Thus far 2014 has been a challenging year for the Fund, with a number of our key ideas failing to deliver positive returns despite our continued conviction in the underlying investment theses and evidence supporting them. |
| More Information | » View detailed profile of this fund |
Charity Regatta
3 Sep 2014 - Hedge Fund Association
24 October 2014. ASX Thomson Reuters Charity Foundation 2014 Financial and Media Markets Charity Regatta, out of Middle Harbour Yacht Club, NSW. It will be a fantastic day, with lots of fun to be had by all...
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3 Sep 2014 - Charity Regatta
By: Hedge Fund Association
2014 Charity Regatta (pdf format)
2014 Financial and Media Markets Charity Regatta
Sydney - Friday 24 October 2014
The Hedge Fund Association, is pleased to be a supporting the ASX Thomson Reuters Charity Foundation 2014 Financial and Media Markets Charity Regatta, out of Middle Harbour Yacht Club, New South Wales. It will be a fantastic day, with lots of fun to be had by all. Full details of the Regatta can be found here.
The Foundation organises an annual charity sailing regatta. Up to 60 class one, two and three yachts are expected to take part. There is also a 150 person VIP spectator boat to follow the race with guests enjoying a superb lunch. A prize giving reception, BBQ and beach party is held at Middle Harbour Yacht Club after the race.
We would like to encourage yacht owners to donate the use of their yacht, with skipper and one or two experienced crew for the day. The Charity Foundation will source a ?sponsor and guest crew? for each yacht which will contribute towards the fundraising. Sponsors in cash and in kind are also needed for the BBQ, Sailing Shirts, Caps, BBQ, Beach Band, Drinks and Signage.
Program of the Day - 10am registration for 1pm race start
Enquiries regarding the Regatta can be directed to David Brocklehurst.
To enquire further about HFA membership please contact Adriana Kostov, Australian Regional Director, HFA
2014 Charity Regatta (pdf format)
Fund Review: Aurora Fortitude Absolute Return Fund July 2014
3 Sep 2014 - Australian Fund Monitors
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.
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3 Sep 2014 - Fund Review: Aurora Fortitude Absolute Return Fund July 2014
By: Australian Fund Monitors
AFARF Fund Review July 2014 (pdf format)
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
AFARF Fund Review July 2014 (pdf format)
Avenir Value Fund
2 Sep 2014 - Australian Fund Monitors
Avenir Value Fund returned -1.12% during July and 24.47% for the year ended July 2014 with a volatility of 7.16%.
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2 Sep 2014 - Avenir 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 Sharpe and Sortino ratios were above ASX 200 Accum Index at 2.78 (1.61) and 7.42 (3.27) respectively, over the last year. Up and Down Capture ratios were 0.57 and -1.69 respectively. |
| More Information | » View detailed profile of this fund |
Auscap Long Short Australian Equities Fund
2 Sep 2014 - Australian Fund Monitors
Auscap Long Short Australian Equities Fund returned 2.95% during July and 43.54% for the prior twelve months with a volatility of 6.30%
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2 Sep 2014 - Auscap Long Short Australian Equities Fund
By: Australian Fund Monitors
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| Fund Overview | The Fund focuses on fundamental long and short investments. The Fund may utilise a multi-strategy approach if short term opportunities to increase returns, hedge the portfolio, protect capital or minimise volatility are found. The Fund is a high conviction fund and the combined portfolio will typically have 25-45 positions, investing primarily in stocks in the ASX200. The Fund may be net long, short or neutral depending on the strategies employed at the time. The Fund may hold cash so that it is in a position to take advantage of market volatility and compelling investment opportunities as and when they arise. The Fund may be geared up to 200% gross long or short and up to 150% net long or short. |
| Manager Comments | The had a Sharpe ratio of 5.46 (Index 1.61) and 100% positive months (Index 75%) over the last year with Up and Down Capture ratios of 1.51 and -1.00 over the same time. Average gross capital employed by the Fund was 149.8% long and 26.1% short. Average net exposure over the month was +123.7%. At the end of the month the Fund had 36 long positions and 5 short positions. The Manager's August Newsletter is entitled 'Is now a good time to buy equities?' and is available on the AFM website. |
| More Information | » View detailed profile of this fund |
Post-Retirement Australia 2014 Conference
1 Sep 2014 - International Business Review Conferences
21-22 October 2014 in Sydney. Comprehensive and timely two day forum for high profile cross industry participants to provide updates, insights and ongoing discussion into the key issues central to achieving
optimal financial outcomes...
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1 Sep 2014 - Post-Retirement Australia 2014 Conference
By: International Business Review Conferences
iPARM Australia 2014 (pdf format)
POST- RETIREMENT AUSTRALIA 2014 CONFERENCE
21st-22nd October, 2014, Grace Hotel, Sydney
Comprehensive and timely two day forum for high profile cross industry participants to provide updates, insights and ongoing discussion into the key issues central to achieving optimal financial outcomes for Australia's rapidly growing retiree sector.
(A "must attend" event, in a time of government belt tightening, regulatory reform and persistent global economic and market volatility)
Over two jam packed days delegates will be privy to a comprehensive range of topics including the political, regulatory, economic and social landscape and factors shaping the future of the post-retirement sector to in-depth examination of the funds accumulation, transition and post-retirement phases, to innovative retirement product options and asset allocation, risk considerations, optimising tax efficiencies, improved advice and data administration developments.
THE CONFERENCE WILL COVER:
- Political and regulatory factors driving the financial future for Australian baby boomers as they migrate across into retirement
- What Australia can learn from the northern hemisphere's approach to the ageing population dilemma
- Accumulating wealth for Super members to maximise retirement funds - Trustee perspectives
- Transitioning into retirement - examines the big questions and decisions to be made to pave the way forward for a comfortable retirement
- Engaging default members for better financial outcomes in retirement
- The increasing importance of sound and reliable advice
- Insights, trends and developments in Super and retirement funds administration
- Innovative retirement products and de-cumulated funds allocation strategies
- Working through the technical and operational complexities of new product implementation
- What?s happening in the SMSF sector post retirement?
- Increasing tax efficiency for retirees
- Future outlook - what will be the ultimate measure of success for retiree sector income, satisfaction and security?
Dates: 21st-22nd October 2014
Time: 8:30am - 5:30pm
Location: Grace Hotel, Sydney
Event AGENDA and booking form can be found here.
iPARM Australia 2014 (pdf format)
Fund Review: Alpha Beta Asian Fund AFM Fund Review July 2014
1 Sep 2014 - Australian Fund Monitors
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.
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1 Sep 2014 - Fund Review: Alpha Beta Asian Fund AFM Fund Review July 2014
By: Australian Fund Monitors
Alpha Beta Asian Fund July 2014 (pdf format)
ALPHA BETA ASIAN FUND
AFM has updated the Fund Review on the Alpha Beta Asian 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 The Alpha Beta Asian Fund invests in Asian listed equity markets with a focus on liquid companies in Australia, Japan, Hong Kong, Indonesia, Philippines and Thailand. The Fund uses a systematic approach to evaluate macroeconomic, company fundamental and price data, all of which are evaluated through a series of quantitative models.
- Sydney based Alpha Beta Capital was established by Andrew Barry and Ken Lewis in May 2012. Both Barry and Lewis have significant qualifications and international experience in funds management, including working together at Coronation International, a global multi-strategy hedge fund group in London.
- The Strategy relies on a number of core beliefs: Firstly that a well designed systematic investment process, operating within a multi-strategy framework will be able to extract consistent returns, on average, with low volatility. Secondly, by utilising holding periods substantially shorter than the industry-norm, profit opportunities consistently arise. Finally, a strategy that holds a large number of small positions versus a small number of concentrated positions, will remove much of the emotional angst of trading, and the investment process becomes repeatable.
- In keeping with the Manager's overall systematic approach the Risk Management includes real time monitoring of positions and market exposure, and is combined into a proprietary and automated system called PARMS (Portfolio and Risk Management System). PARMS is a centralised and integrated system which provides full functionality including stress testing.
For further details on the Fund, please do not hesitate to contact us.
Sean Webster
Research Manager
Alpha Beta Asian Fund July 2014 (pdf format)
Pengana Absolute Return Asia Pacific Australian Fund
1 Sep 2014 - Australian Fund Monitors
Pengana Absolute Return Asia Pacific Australian Fund recorded 1.18% during July and 8.03% for the prior twelve months with a volatility of 2.88%.
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1 Sep 2014 - Pengana Absolute Return Asia Pacific Australian 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 | While M&A activity slowed during July, the Fund focused on other emerging themes in the Asian event space. State owned enterprise (SOE) reforms out of China are driving asset injections and recapitalizations which will present unique trading opportunities ahead. The recently concluded reverse takeover of Citic Pacific is an example of how such reforms are being pursued by Chinese authorities. Another key emerging theme is increased focus on the JPX 400 index which benchmarks Japanese companies on operating metrics like ROE. This is incentivising and driving corporate activity in Japanese companies who wish to improve governance standards and hence valuations. |
| More Information | » View detailed profile of this fund |
iPARM Australia 2014
31 Aug 2014 - International Business Review Conferences
15-17 October, Grace Hotel, Sydney - Investment Performance Measurement, Attribution & Risk Management Forum in Sydney will have leading experts sharing up-to-date, cutting edge ideas and insight on frontiers of recent developments in...
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31 Aug 2014 - iPARM Australia 2014
By: International Business Review Conferences
15-17 October 2014,
iPARM Australia 2014 (pdf format)
Investment Performance Measurement, Attribution & Risk Management 2014 Forum
15-17 October 2014,
8:30am - 5:30pm, Grace Hotel, Sydney
iPARM Australia 2014- Investment Performance Measurement, Attribution & Risk Management 2014 Forum in Sydney will have leading experts sharing up-to-date, cutting edge ideas and insight on frontiers of recent developments in performance measurement, attribution & risk management.
- The 5 things every performance measurement professional must know
- Key implications in risk & performance measurement and management
- Using Attribution to truly improve the investment decision making process
- Long horizon performance -Why is it so relevant to superannuation funds?
- Case Study- Insourcing performance analytics
- Risk regulatory landscape- impact & opportunities for institutional investors
- Post-Conference Workshop: Introduction to Performance Attribution
iPARM Australia 2014 (pdf format)
Fund Review: Bennelong Long Short Fund AFM Fund Review July 2014
30 Aug 2014 - Australian Fund Monitors
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.
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30 Aug 2014 - Fund Review: Bennelong Long Short Fund AFM Fund Review July 2014
By: Australian Fund Monitors
Bennelong Long Short Fund Review (pdf format)
BENNELONG LONG SHORT EQUITY FUND
Attached is our most recently updated Fund Review on the Bennelong Long Short Equity 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.
- The Fund is a research driven, market and sector neutral, "pairs" trading strategy investing primarily in large cap stocks from the ASX/S&P100 Index, with a twelve year track record and annualised net returns of 18.26% pa.
- The consistent returns across the investment history indicates the Fund's ability to provide positive returns in volatile and negative markets and significantly outperform the broader market.
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Fund performance was muted for the month as the market drifted without any strong thematic and investors were subject to merger andacquisition activity/speculation, yield/defensive buying and stock specific issues. Our assessment is that the April factors thatnegatively impacted fund returns, which were of a more global nature, were persisting early in the period but since have abated. Fund activitywas limited in May as our view of market fundamentals have not really changed.
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 Fund Review (pdf format)
