News
Insync Global Titans Fund
2 Apr 2015 - Australian Fund Monitors
Insync Global Titans Fund increased 4.9% in February bringing the Fund's prior 12 month performance to 15.57%.
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2 Apr 2015 - Insync Global Titans Fund
By: Australian Fund Monitors
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| Fund Overview | Insync employs four simple screens to narrow the universe of over 40,000 listed companies globally to a focus group of high quality companies that it believes have the potential to consistently grow their profits and dividends. These screens are size of the company, balance sheet performance, valuation and dividend quality. Companies that pass this due diligence process are then valued using dividend discount models, free cash flow yield and proprietary implied growth and expected return models. The end result is a high conviction portfolio of typically 15-30 stocks. The principal investments will be in shares of companies listed on international stock exchanges (including the US, Europe and Asia). The Fund may also hold cash, derivatives (for example futures, options and swaps), currency contracts, American Depository Receipts and Global Depository Receipts. The Fund may also invest in various types of international pooled investment vehicles. At times, Insync may consider holding higher levels of cash if valuations are full and it is difficult to find attractive investment opportunities. When Insync believes markets to be overvalued, it may hold part of its resources in cash, or use derivatives as a way of reducing its equity exposure. Insync may use options, futures and other derivatives to reduce risk or gain exposure to underlying physical investments. The Fund may purchase put options on market indices or specific stocks to hedge against losses caused by declines in the prices of stocks in its portfolio. |
| Manager Comments | More than half of the Fund's geographic composition was in North America at 62.60%. The key industry compositions consisted of Health Care at 27.40%, Consumer Discretionary at 20.80%, Consumer Staples at 17.90% and IT at 15.90%. The performance was driven by positive contributions from the Fund's holdings in Medtronic, Microsoft, McGraw-Hill and Disney. The main negative contributors were Baxter, McDonald's and Hugo Boss. The Fund continues to have no foreign currency hedging in place as Insync consider the main risks to the Australian dollar to be on the downside. Read Fund Manager's complete report on the AFM site. |
| More Information | » View detailed profile of this fund |
Fund Review: Bennelong Long Short Equity Fund February 2015
1 Apr 2015 - Australian Fund Monitors
Fund review available for Bennelong Long Short Fund which has over twelve year track record and annualised returns of 17.25%.
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1 Apr 2015 - Fund Review: Bennelong Long Short Equity Fund February 2015
By: Australian Fund Monitors
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 returns of 17.25%.
- 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. The Fund's Sharpe Ratio and Sortino Ratio are 1.03 (Index 0.37) and 1.72 (Index 0.42) respectively.
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Fund performance in February was 0.05%, with no major changes to the Fund's positioning. Behind this month?s result was generally sound pair positioning, with strong positive contributions from long QBE Insurance / short Suncorp Group, long Ramsay Healthcare / short Primary Healthcare, and a long position in Whitehaven Coal. However offsetting these gains was the Fund's long Brambles / short Toll Holdings.
For further details on the Fund, please do not hesitate to contact us.
Sean Webster
Research and Database Manager
Australian Fund Monitors
Allard Investment Fund
1 Apr 2015 - Australian Fund Monitors
Allard Investment Fund decreased 0.2% during February 2015, bringing the Fund's past twelve month performance to 24.23%.
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1 Apr 2015 - Allard Investment Fund
By: Australian Fund Monitors
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| Manager Comments | The Fund portfolio stook at 70.60% invested in equities & 29.40% held in cash & fixed income. In terms of industry breakdown the Fund was most exposed to Financial Services at 18.7%, Conglomerates 10.9% and Telco's with 9.7%. The geographic breakdown was Hong Kong / China at 40.5%, Singapore 10.9% and Korea 8.5%. The top 5 holdings had 42.50% concentration of the portfolio and 16.10% in the next 5 holdings. |
| More Information | » View detailed profile of this fund |
Totus Alpha Fund
31 Mar 2015 - Australian Fund Monitors
Totus Alpha Fund was down slightly during February at -0.20% as performance from the Fund's long positions were cancelled out by the short positions.
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31 Mar 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 | At the end of February, the fund had a net exposure of 30.6% and a gross exposure of 252.25%. The fund held 124 positions (56 long and 68 short). Top contributors to performance in February were our long positions in Domino's +1.65% (Scarce Growth), Macquarie +1.37% (Financial Services) and Altium +1.08% (Online). Biggest detractors from performance were our short positions in ASX Index Futures -0.85% and LNG Limited -0.58% (Promoter), and a long position in Intueri -0.85% (Scarce Growth). The Fund looks for stocks with medium to long term tailwinds for longs and headwinds for shorts. Over shorter periods, the Fund can occasionally experience a 'short squeeze' due to investor positioning driving the share prices rather than the fundamentals and if too many investors are short. The Fund expects that these squeezes inevitably run out of steam and fundamentals come back into play. Read the complete Fund Manager's Report now available on the AFM's Fund Profile. |
| More Information | » View detailed profile of this fund |
Fund Review: Aurora Fortitude Absolute Return Fund February 2015
30 Mar 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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30 Mar 2015 - Fund Review: Aurora Fortitude Absolute Return Fund February 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 85% of monthly performances have been positive with no losing months in 2008, the Fund's largest drawdown is -2.09% and the Sharpe ratio 1.05.
- 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
Auscap Long Short Australian Equities Fund
30 Mar 2015 - Australian Fund Monitors
Auscap Long Short Australian Equities Fund recorded a return of 4.90% in February with the annual return of 37.91% per annum and a volatility of 10.17%.
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30 Mar 2015 - 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 | Average gross capital employed by the Fund was 108.0% long and 30.7% short. Average net exposure over the month was +77.3%. At the end of the month the Fund had 30 long positions and 9 short positions. The Fund's biggest stock exposures at month end were spread across the financials, consumer discretionary, healthcare, consumer staples and energy sectors. February Fund Manager's Report now available on the AFM site. |
| More Information | » View detailed profile of this fund |
Fund Review: Optimal Australia Absolute Trust February 2015
27 Mar 2015 - Australian Fund Monitors
Latest Fund Review shows Optimal Australian Absolute Trust Fund had low annual volatility of 3.67% compared to the ASX200 Accumulation Index's 14.59%.
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27 Mar 2015 - Fund Review: Optimal Australia Absolute Trust February 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 1.33, Sortino ratio of 2.97, 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
Fund Review: Optimal Australia Absolute Trust February 2015Aurora Fortitude Absolute Return Fund
26 Mar 2015 - Australian Fund Monitors
Aurora Fortitude Absolute Return Fund rose 0.75% in February to bring annual performance since inception 7.33%.
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26 Mar 2015 - Aurora Fortitude Absolute Return Fund
By: Australian Fund Monitors
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| Fund Overview | The Fund aims to produce positive returns irrespective of the direction of the share market. For each investment the manager considers the risk, the timeline of that risk occurring and then the potential return. Low transaction costs and liquidity are other important factors in the success and implementation of the strategies. |
| Manager Comments | All portfolio strategies were positive with the exception of Long/Short at -0.14%. The Option Strategy (0.76%) was the most significant contributor for the month. Woolworths Limited (WOW.ASX) was the stand out due to concerns regarding profit announcement. Woodside Petroleum was a solid put option. The Fund Manager anticipate further large moves within the resources sector. The Fund sees potential for offshore corporations to buy Australian companies, given the significant fall in Australian dollar and subsequently increased opportunities within the Mergers and Acquisitions Strategy. The other strategies such as Convergence Trading (0.02%) and Yield Strategy (0.01%) were flat for the month. |
| More Information | » View detailed profile of this fund |
Fund Review: Bennelong Kardinia Absolute Return Fund February 2015
26 Mar 2015 - Australian Fund Monitors
February Fund Review now available for Bennelong Kardinia Absolute Return Fund, which has over eight years of positive track record.
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26 Mar 2015 - Fund Review: Bennelong Kardinia Absolute Return Fund February 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 1.90% in February and has volatility of 7.38% pa, compared to the ASX200 Accumulation's 14.30%.
- 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
Avenir Value Fund
25 Mar 2015 - Australian Fund Monitors
Avenir Value Fund rose 7.8% in February to bring Fund's Annual Return per annum, since inception to 17.00%
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25 Mar 2015 - 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 Fund's Sharpe and Sortino ratios are 1.17 and 2.04 respectively since inception in August 2011. Also notable are the Up and Down capture ratios at 0.42 and -0.24 respectively. At month-end the Fund's geographical disposition was 45% US, 14% Asia, 11% Western Europe with 1% Australia, 15% other and 15% cash. The top 10 holdings were 58% of NAV. |
| More Information | » View detailed profile of this fund |
