News
Fund Review: Blackrock Australian Equity Market Neutral Fund
27 Aug 2013 - Australian Fund Monitors
July Fund Review for BlackRock Australian Equity Market Neutral Fund now available. The fund's portfolio generally consists of approx 180 stocks in equally weighted long and short positions.
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27 Aug 2013 - Fund Review: Blackrock Australian Equity Market Neutral Fund
By: Australian Fund Monitors
Fund Review:Blackrock Equity Market Neutral Fund (pdf format)
BLACKROCK AUSTRALIAN EQUITY MARKET NEUTRAL FUND
Attached is our most recently updated Fund Review on the BlackRock Australian Equity Market Neutral Fund.
We would like to highlight the following aspects of the Fund:
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BlackRock is the world's largest fund management group. Since being established in 1988 it has grown organically and by acquisition to manage US$3.93 trillion as of March 2013.
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Operations cover 27 countries including Australia (where BlackRock has A$48.6 billion in FUM - March 2013) managing a broad range of strategies across a variety of asset classes.
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The BlackRock Australian Equity Market Neutral Fund is managed by a 12 person Sydney based investment team following a systematic global research process investing in ASX listed stocks.
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The Fund's portfolio generally consists of approx. 180 stocks in equally weighted long and short portfolios to maximise potential returns while minimising market volatility.
Research and Database Manager
Australian Fund Monitors
Fund Review:Blackrock Equity Market Neutral Fund (pdf format)
Pengana Asia Special Events (Onshore) Fund
26 Aug 2013 - Australian Fund Monitors
The Pengana Asia Special Events (Onshore) Fund returned over 1.09% for July 2013 and 11.35% for the previous 12 months.
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26 Aug 2013 - Pengana Asia Special Events (Onshore) 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 +1.1% for the month of July 2013, compared to the FTSE Asia Pacific Index which closed +1.4%. Capital Management trades contributed over half of the Fund's absolute performance during July. In terms of countries, positions in Japan and Hong Kong / China proved the most fruitful, while Australian positions detracted slightly. The Fund maintained average net and gross exposure of 11% and 179% respectively. |
| More Information | » View detailed profile of this fund |
Fund Review: Aurora Fortitude Absolute Return Fund
26 Aug 2013 - Australian Fund Monitors
AFM's updated Fund Review for Aurora Fortitude Absolute Return Fund, showing KPI's for July 2013 vs ASX200, Performance (net of fees) and Cumulative Performance since inception.
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26 Aug 2013 - Fund Review: Aurora Fortitude Absolute Return Fund
By: Australian Fund Monitors
Aurora Fortitude Absolute Return Fund (pdf format)
AURORA FORTITUDE ABSOLUTE RETURN FUND
Attached is our most recently updated Fund Review on the Aurora Fortitude Absolute Return Fund.
We would like to highlight the following aspects of the Fund;
- ASX listed Aurora Funds Limited established on the merger of three existing fund management businesses, managing approx. $480m on behalf of more than 2,500 retail and wholesale investors.
- The Aurora Fortitude Absolute Return Fund (AFARF) has a 8 year track record investing in ASX listed equities. CIO John Corr has over 20 years financial market experience with a strong focus on risk.
- 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.
- Strong use of low risk "long" derivatives and option overlays has provided positive returns with low volatility during periods of market dislocation.
- Over 87% of monthly performances have been positive, with no losing months in 2008 and a largest drawdown of -2.09%.
Research and Database Manager
Australian Fund Monitors
Aurora Fortitude Absolute Return Fund (pdf format)
Fund Review: Optimal Australia Absolute Trust
22 Aug 2013 - Australian Fund Monitors
AFM's updated Fund Review for the Optimal Australia Absolute Trust, showing KPI's for July 2013 vs ASX200 Acc, Performance (net of fees) and Cumulative Performance since inception.
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22 Aug 2013 - Fund Review: Optimal Australia Absolute Trust
By: Australian Fund Monitors
Fund Review: Optimal Australia Absolute Trust (pdf format)
OPTIMAL AUSTRALIA ABSOLUTE FUND
Attached is our most recently updated Fund Review on the Optimal Australia Absolute Fund.
We would like to highlight the following aspects of the Fund:
- Optimal Australia is a specialist Australian equity investment manager established in 2008.
- The Fund's long/short equity strategy portfolio typically has a low but variable net market exposure comprising 40 to 65 stock broadly selected from within the ASX200.
- The investment team comprising George Colman, Peter Whiting and Stephen Nicholls have close to 90 years combined experience in equity markets.
- Consistent out-performance of the market: Approximately 84 % of monthly performances have been positive with a largest drawdown of -1.38%.
Research and Database Manager
Australian Fund Monitors
Fund Review: Optimal Australia Absolute Trust (pdf format)
Fund Review: Bennelong Long Short Equity Fund
21 Aug 2013 - Australian Fund Monitors
AFM's updated Fund Review for Bennelong Long Short Equity Fund, showing KPI's for July 2013 vs ASX200, Performance (net of fees) and Cumulative Performance since inception.
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21 Aug 2013 - Fund Review: Bennelong Long Short Equity Fund
By: Australian Fund Monitors
Bennelong Long Short Equity Fund (pdf format)
BENNELONG LONG SHORT EQUITY FUND
Attached is our most recently updated Fund Review on the Bennelong Long Short Equity Fund.
We would like to highlight the following aspects of the Fund:
- Research driven, market and sector neutral, "pairs" trading strategy investing primarily in large cap stocks from the ASX/S&P100 Index, with a ten year track record and annualised net returns of over 20% .
- Portfolio Manager Richard Fish has over 25 years market experience, while Bennelong Funds Management, who have over $4.5 billion in FUM across various funds, provide infrastructure, operational and compliance functions.
- The Fund's Investment history commenced in January 2002 and has positive annual returns each year, including an 11.95% return in 2008 and 20.6% in 2011, both of which were negative years for the ASX200.
- 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.
Research and Database Manager
Australian Fund Monitors
Bennelong Long Short Equity Fund (pdf format)
Insync Global Titans Fund
20 Aug 2013 - Australian Fund Monitors
The Insync Global Titans Fund returned 3.87% during July and 23.60% over the last 12 months.
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20 Aug 2013 - Insync Global Titans Fund
By: Australian Fund Monitors
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| Manager Comments | The Fund's unit price increased by 3.9% in July, with the largest positive contributions coming from our holdings in Wyndham, BNY Mellon, BAT and General Mills. Coach was the sole detractor for the month as it continues to face temporary competitive pressures in its North American business. The Fund benefitted from further depreciation of the Australian dollar in July, having no foreign exchange hedging in place. Global financial markets recovered some of their composure in July following reassuring comments from the US Federal Reserve emphasising that any decision to taper is conditional on further economic recovery, specifically continued improvement in the US labour market. The Q2 corporate earnings season has so far been coming in ahead of low expectations. |
| More Information | » View detailed profile of this fund |
Pengana Australian Equities Market Neutral Fund
19 Aug 2013 - Australian Fund Monitors
The Pengana Australian Equities Market Neutral Fund returned -0.5% during July and has returned 8.94% since inception (September 2008) with a volatility of 8.1%.
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19 Aug 2013 - Pengana Australian Equities Market Neutral Fund
By: Australian Fund Monitors
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| Fund Overview | The manager's investment approach is premised on the belief that fundamental factors (such as earnings, cash flow and profit growth) affect stock prices, but that the adoption of quantitative techniques (i.e. computer based models) provides an advantage in assimilating and analysing this information, and building an efficient portfolio. The Fund's portfolio is constructed to be 'Market Neutral' i.e. it aims to have little or no overall exposure to movements in the equity market. The aim of low exposure to market movements is to enhance the consistency of the portfolio's performance and to provide diversification from other market oriented investments. |
| Manager Comments | Over July Value was the only fundamental factor to perform. Quality under-performed while Momentum was flat. With reporting season the Manager expects Earnings Revision and Quality to re-assert themselves. |
| More Information | » View detailed profile of this fund |
Fund Review: Morphic Global Opportunities Fund
16 Aug 2013 - Australian Fund Monitors
AFM's updated Fund Review for Morphic Global Opportunities Fund, showing KPI's for July 2013 vs ASX200, Performance (net of fees) and Cumulative Performance since inception.
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16 Aug 2013 - Fund Review: Morphic Global Opportunities Fund
By: Australian Fund Monitors
Fund Review: Morphic Global Opportunities Fund (pdf format)
MORPHIC GLOBAL OPPORTUNITIES FUND
Attached is our most recently updated Fund Review on the Morphic Global Opportunities Fund.
We would like to highlight the following aspects of the Fund:
- The Morphic Global Opportunities 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.
- 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.
- Portfolio construction is stock selection agnostic with a bias to valuebased and momentum strategies. Risk management is a primary consideration in portfolio construction.
- Morphic's philosophy is that only funds with flexible hedging strategies will be able to deliver acceptable, steady, real, absolute returns over the investment cycle.
Research and Database Manager
Australian Fund Monitors
Fund Review: Morphic Global Opportunities Fund (pdf format)
BlackRock Australian Equity Market Neutral Fund
16 Aug 2013 - Australian Fund Monitors
The BlackRock Australian Equity Market Neutral Fund returned 1.92% for July. The since inception (August 2001)return is 12.23% pa.
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16 Aug 2013 - BlackRock Australian Equity Market Neutral Fund
By: Australian Fund Monitors
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| Fund Overview | 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 and Timing. Short-Term return enhancing opportunities including: Dividend reinvestment plans, Manging index changes, Managing cash flows and Arbitrage, Initial public offerings and Seasoned Equity Offerings and Off Market Buybacks. |
| Manager Comments | The Fund's risk characteristics are notable with an annualised standard deviation of 5.71% and largest drawdown of -12.41% since inception, as compared to the ASX 200 Accumulation numbers of 13.27% and -47.19% respectively. In addition, over the same time frame, the Fund's up capture ratio is 0.11 and down capture ratio -0.60. Portfolio performance was strong in July. Solid gains for oil and gas stocks, assisted by geo-political tensions lifting the oil price, contributed significantly to portfolio performance. The weakness of domestic defensives, as cyclicals rallied, was another major contributor to performance. Of the investment insights, market and quality insights dominated portfolio performance, particularly the reversionary signals which had an outstanding second half of the month. |
| More Information | » View detailed profile of this fund |
Aurora Fortitude Absolute Return Fund
15 Aug 2013 - Australian Fund Monitors
The Aurora Fortitude Absolute Return Fund returned 1.13% during July bringing since inception returns to 8.29% pa.
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15 Aug 2013 - 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 four underlying strategies were positive over the month, with Long/Short the best performer primarily due to a long position in mortgage provider RHG. The demerger of Newscorp and 21st Century Fox also led to good inter-market trading opportunities between US and Australian exchanges benefitting the Convergence strategy. |
| More Information | » View detailed profile of this fund |
