News

Performance Report: Kima Capital Pan Asian Fund

29 Oct 2010 - Australian Fund Monitors

Kima records positive performance across all strategies in September, and sees a pickup in IPO opportunities

Performance Report: Global Trading Strategies Fund (Class A)

28 Oct 2010 - Australian Fund Monitors

Global Trading Strategies records positive September, and their fourth consecutive monthly return above 1%.

Performance Report: Aurora Sandringham Dividend Income Trust

27 Oct 2010 - Australian Fund Monitors

Aurora increases exposure to banks ahead of earnings updates

Performance Report: Atrium Australian Equity Long Short Fund

26 Oct 2010 - Australian Fund Monitors

Atrium benefits from a wide range of positive positions in September.

Performance Report: Katana Capital Ltd

20 Oct 2010 - Australian Fund Monitors

Katana Capital outperforms the market while remaining conservatively positioned with significant assets remaining in cash waiting for market weakness.

Performance Report: Pengana Global Small Companies Solution

19 Oct 2010 - Australian Fund Monitors

Pengana's Global Small Companies Fund of Fund produced a strong return for the month as markets ignored the double dip recession threats in the US.

Performance Report: Merricks Capital Multi-Strategy Fund

18 Oct 2010 - Australian Fund Monitors

Merricks Multi Strategy Fund September performance buoyed by strong results from Event Driven and Soft Commodity portfolios to produce their best month since inception.

Performance Report: Cadence Capital Limited

15 Oct 2010 - Australian Fund Monitors

Cadence Capital reaches a five year track record milestone with a positive month

Performance Report: Fortitude Capital Absolute Return Trust

15 Oct 2010 - Australian Fund Monitors

Derivative positions drag on September performance

Performance Report: Lanterne Strategic Asia-Pacific Fund

15 Oct 2010 - Australian Fund Monitors

The fund rose in September as exposure (gross and net) was increased as the market rally sustained itself.

Report Date	28 October 2010
Manager	Kima Capital
Fund Name	Kima Capital Pan Asian Fund
Strategy	Equity Long/Short
Latest Return Date	September 2010
Latest Return	2.62%
Latest 6 Months	5.33%
Latest 12 Months	8.06%
Latest 24 Months
Annualised Since Inception	15.90%
Inception Date	01 July 2009
FUM (millions)	AU$37
Fund Overview	Kima Capital Management is a Long / Short Pan Asian fund trading in liquid names. The fund aims to generate minimum investment returns of 12-18% pa with a conservative, low volatility approach using in house proprietary software tools.
Manager Comments	Kima reported that they achieved positive performance across all strategies in September, with a pleasing pickup in IPO opportunities which proved profitable in both initial listings and secondary trading. Going forward, whilst Arbitrage has been quiet due to lack of volatility Kima still see a large opportunity set within the Event driven strategy in addition to the IPO strategy, with approximately 25 live deals and a large pipeline between now and the end of the year.
More Information	» View detailed profile of this fund

Report Date	27 October 2010
Manager	Global Trading Strategies
Fund Name	Global Trading Strategies Fund (Class A)
Strategy	Global Macro
Latest Return Date	September 2010
Latest Return	3.37%
Latest 6 Months	-4.07%
Latest 12 Months	-1.81%
Latest 24 Months	7.17%
Annualised Since Inception	15.85%
Inception Date	01 June 2005
FUM (millions)	AU$306
Fund Overview	The Fund's strategy focuses on a fundamentally-driven, discretionary approach to trading global markets that seeks to identify turning points in economic cycles, changes in policy direction or geopolitical or climatic events that generate uncertainty about the macroeconomic environment. Each of these opportunities or themes generally last between 12 and 24 months in duration which are actively traded around. The manager has found that markets tend to deviate from fundamentals until there is a catalyst that changes market sentiment and spends a considerable amount of time trying to identify these catalysts.
Manager Comments	Global Trading Strategies recorded a gain of +3.37% in September, and their fourth consecutive monthly return above 1%. The main contributor to fund performance was a long position in the Euro, as the recovery in peripheral European bonds gathered pace and economic activity remained strong, and the Euro continued to recover its losses versus the US Dollar from earlier in the year. Long positions in the Australian Dollar also boosted returns, as did short positions in the Japanese Yen as the Japanese intervened to slow the pace of appreciation of their currency. Given lingering investor concerns in the US about the Euro, Gold benefitted from a further influx of investors as the Fed readied the printing press again, and positions the fund held in Gold provided around 40bps of return in the month
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Report Date	25 October 2010
Manager	Aurora Funds Management
Fund Name	Aurora Sandringham Dividend Income Trust
Strategy	Equity Income
Latest Return Date	September 2010
Latest Return	1.67%
Latest 6 Months	-0.72%
Latest 12 Months	-1.00%
Latest 24 Months	-2.68%
Annualised Since Inception	6.88%
Inception Date	17 November 2005
FUM (millions)	AU$38
Fund Overview	The Trust seeks to provide investors with dividend income plus franking credits through an exposure to predominantly the largest 30 companies trading on the ASX. A risk management program will seek to broadly protect the investment from adverse movements in the equity market. Aurora has appointed Sandringham Capital Pty Ltd to manage this investment strategy.
Manager Comments	Aurora increased the funds' exposure to banks ahead of earnings updates due in October to take the total invested in ANZ, NAB and WBC plus BHP at least 10% each. As at the end of the month this represented the fund's total holdings at 42.7% of NAV.
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Report Date	25 October 2010
Manager	Atrium Investment Management Pty Ltd
Fund Name	Atrium Australian Equity Long Short Fund
Strategy	Equity Market Neutral
Latest Return Date	September 2010
Latest Return	1.63%
Latest 6 Months	-2.88%
Latest 12 Months	-5.19%
Latest 24 Months
Annualised Since Inception	-5.19%
Inception Date	01 October 2009
FUM (millions)
Fund Overview	The Atrium Australian Equity Market Neutral Fund is an actively managed absolute return fund that invests in listed equities and related derivatives in Australia. The product is designed to exhibit significantly lower annual volatility than the majority of Australian equity market products. The Fund's objective is to generate positive annual returns after fees in excess of the RBA Cash Rate regardless of equity market conditions.
Manager Comments	Atrium benefits from a wide range of positive positions in September as a large range of stocks performed well across several market sectors. Within the long positions ASX, Westpac Banking Corporation and Southern Cross Media were the best performers. Atrium also advised they have decided to reduce the exposure of the portfolio to single stock short positions and increase the amount of index hedging within the portfolio. The manager feels this is appropriate given the heightened level of risk tolerance currently within the market and the risk of single stock shorts causing losses in the future. Atrium also increased the hedging within the portfolio to protect against a falling market as valuations, particularly in the resources sector, begin to look stretched.
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Report Date	16 October 2010
Manager	Katana Capital
Fund Name	Katana Capital Ltd
Strategy	Equity Long
Latest Return Date	September 2010
Latest Return	4.46%
Latest 6 Months	0.93%
Latest 12 Months	9.86%
Latest 24 Months	34.93%
Annualised Since Inception	11.34%
Inception Date	01 September 2005
FUM (millions)	AU$41
Fund Overview	As an 'All Opportunities' fund, the underlying goal of the Manager is to assess the risk adjusted return of every potential opportunity identified by the Manager. The Manager's intended approach includes selectively and modestly taking higher-risk positions, provided that the potential return exceeds the additional risk preferably in terms of both value and time. Whilst the Manager intends to combine the best principles of value investing, fundamental and technical analysis, it does not wish to be constrained by the constructs of any one approach. The key to the long-term success of the Company is seen as the capacity of the Manager to integrate the best principles of each discipline with the extensive and varied experiences of the Manager. This is achieved by encouraging flexibility and adaptability, but within the confines of an overall framework that controls risk.
Manager Comments	Katana outperformed the market in September while remaining conservatively positioned with significant assets remaining in cash waiting for anticipated market weakness. Katana’s cash position remained around 25% of NTA as the manager waited for any market weakness, but still managed to return 6.56% (pre-tax) for the month by taking active positions away from benchmark weightings.
More Information	» View detailed profile of this fund

Fund Monitors Pty Ltd

News

29 Oct 2010 - Performance Report: Kima Capital Pan Asian Fund

28 Oct 2010 - Performance Report: Global Trading Strategies Fund (Class A)

27 Oct 2010 - Performance Report: Aurora Sandringham Dividend Income Trust

26 Oct 2010 - Performance Report: Atrium Australian Equity Long Short Fund

20 Oct 2010 - Performance Report: Katana Capital Ltd

19 Oct 2010 - Performance Report: Pengana Global Small Companies Solution

18 Oct 2010 - Performance Report: Merricks Capital Multi-Strategy Fund

15 Oct 2010 - Performance Report: Cadence Capital Limited

15 Oct 2010 - Performance Report: Fortitude Capital Absolute Return Trust

15 Oct 2010 - Performance Report: Lanterne Strategic Asia-Pacific Fund

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