NEWS
Performance Report: Fortitude Capital Absolute Return Trust
12 Nov 2010 - Australian Fund Monitors
Fortitude's yield and convergence strategies perform as markets rallied on QE2 expectations and US dollar weakness
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12 Nov 2010 - Performance Report: Fortitude Capital Absolute Return Trust
By: Australian Fund Monitors
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| Manager Comments | As it became more difficult to profit from option positions Fortitude increased weightings to other strategies resulting in positive returns. |
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Performance Report: Lanterne Arran Fund
11 Nov 2010 - Australian Fund Monitors
Lanterne cautious short term, but remains positive long term based on the local economy and that of Australia's key Asian trading partners.
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11 Nov 2010 - Performance Report: Lanterne Arran Fund
By: Australian Fund Monitors
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| Manager Comments | Lanterne entered November somewhat cautiously positioned in anticipation of a potential reversal of recent strength in the Australian dollar and key commodities. The second round of quantitative easing from the US Federal Reserve has been well telegraphed to the market for some time now leading them to believe that it is mostly priced in. Longer term Lanterne remains positive on the Australian market given the ongoing strength of the local economy as well as those of Australia’s key trading partners in Asia. |
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Performance Report: Bennelong Securities Long Short Equity Fund
10 Nov 2010 - Australian Fund Monitors
Bennelong's overall portfolio performance was solid in October, although hampered by two proposed corporate transactions in the financial sector.
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10 Nov 2010 - Performance Report: Bennelong Securities Long Short Equity Fund
By: Australian Fund Monitors
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| Manager Comments | The manager reported an increased confidence in their short term outlook for equities as global liquidity builds and monetary policy settings accommodate asset price gains. In addition the apparent strength in corporate balance sheets and earnings is likely to stimulate employment, consumer confidence and additional corporate activity. The manager's longer term outlook remains one of caution as system imbalances and the inevitable stimulus withdrawal are still to be addressed. |
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Performance Report: CSL Active Long Only Programme
9 Nov 2010 - Australian Fund Monitors
Commodity Strategies Long Only October Returns driven by gains in Metals, Agriculturals and Grains, with energies providing mixed results.
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9 Nov 2010 - Performance Report: CSL Active Long Only Programme
By: Australian Fund Monitors
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| Manager Comments | In the metals sector the positive returns came from Silver, Zinc, Gold, Platinum and Copper, while Cotton, Sugar and Coffee drove the agricultural sector, and Soy the grains. On the negative side, the fund reported small losses for the month in Aluminium, Nickel, Gas and Heating Oil. |
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Performance Report: Arnott Opportunities Fund
8 Nov 2010 - Australian Fund Monitors
Arnott continues to perform as assets stabilise and risk increases back to traditional levels
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8 Nov 2010 - Performance Report: Arnott Opportunities Fund
By: Australian Fund Monitors
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| More Information | » View detailed profile of this fund |
Performance Report: Regal Amazon Market Neutral Fund
5 Nov 2010 - Australian Fund Monitors
Regal\\'s Amazon Market Neutral fund continues to outperform, with both long and short positions adding to positive performance.
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5 Nov 2010 - Performance Report: Regal Amazon Market Neutral Fund
By: Australian Fund Monitors
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| Manager Comments | Other positive performances included a long standing position in Citadel, which rallied following a takeover offer, although Regal believe the proposal still undervalues the company, and retains the position. In the financial sector Challenger rose 9% for the month, while a short position in Perpetual lost money following a bid from KKR. The Asian positions made a very good return on the small amount of capital invested. |
| More Information | » View detailed profile of this fund |
Performance Report: K2 Australian Absolute Return Fund
4 Nov 2010 - Australian Fund Monitors
K2\\'s Australian Fund notes October\\'s market driven by an acceleration of large scale corporate M&A announcements, continued strength in commodity prices and QE2 expectations
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4 Nov 2010 - Performance Report: K2 Australian Absolute Return Fund
By: Australian Fund Monitors
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| Fund Overview | - The Fund is managed 'opportunistically'. Investments are made throughout Australia and New Zealand across sectors that the investment team believes will add greatest value. - Typically the Fund will hold between 50 and 70 listed equities. - If deemed appropriate, the Fund may be 100% invested in cash. - To implement the Fund's Long/Short investment strategy, K2 is able to use leverage or gear the Fund. However, the net invested position of the Fund shall not exceed the Net Asset Value (NAV) of the Fund. |
| Manager Comments | Also supporting the result was continued strength in commodity prices with the CRB Index rising 4.8%, and QE2 expectations in the US. K2 also sounded a cautionary note when looking at forward EPS forecasts saying Although we are optimistic about the prospects for 2011 earnings, we are conscious that equity issuances are continuing at a rate above our expectations and as a result 2012 EPS forecasts may be too optimistic'. |
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Performance Report: Taurus Precious Metals Strategy
2 Nov 2010 - Australian Fund Monitors
Taurus Precious Metals produces a positive September in line with the gold price as commodities in general enjoy another solid month
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2 Nov 2010 - Performance Report: Taurus Precious Metals Strategy
By: Australian Fund Monitors
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| Fund Overview | Excess returns are generated by utilizing a relative value strategy and correctly switching the portfolio between the various physical commodities (gold, silver, platinum, palladium) and also between commodities and equities. The strategy's primary goal is to provide investors with returns ahead of Gold Bullion, essentially an enhanced gold exposure. The fund aims to provide investors with a low cost, appropriately bench marked alternative / substitute to physical gold. The investment process combines fundamental and quantitative research to isolate attractive commodities, sub-sectors and stocks. |
| Manager Comments | Amongst the precious metals, palladium again outpaced all comers increasing 12.7% closely followed by silver (+12.4%) with precious metals up in a range of 15-42% YTD, with bullion coming in at +25.6%. YTD global equities are up 4.6%. Taurus noted that the Bulls are again back in charge, with pretty much everything in the Resources and Commodity area appreciating strongly during the month. |
| More Information | » View detailed profile of this fund |
Performance Report: Pengana Global Resources Fund
1 Nov 2010 - Australian Fund Monitors
Pengana\\'s global Resources Fund benefits from higher commodity prices in part buoyed by a weakening US dollar.
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1 Nov 2010 - Performance Report: Pengana Global Resources Fund
By: Australian Fund Monitors
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| Fund Overview | The fund uses multiple strategies to profit from inefficiencies in the pricing of small and large companies and event driven activity. The fund employs three core strategies: - Pairs trading in liquid, large capitalisation stocks - Directional long and short positions in mid and small capitalisation stocks - Event driven (e.g IPO's, mergers and acquisitions), and other corporate activity. |
| Manager Comments | As a result the S&P/ASX Metals and Mining index gained 8.02% for the month, while the FTSE 350 Mining Index gained 11.94% in local currency terms. The manager reduced the fund's net long position during the month from 73% the previous month to 67%, and gross exposure dropped to 103% from 115% as the fund reduced holdings in some stocks and exited others which were replaced by new positions in Exxon Mobil, Posco and Consol Energy. |
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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
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29 Oct 2010 - Performance Report: Kima Capital Pan Asian Fund
By: Australian Fund Monitors
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| Manager Comments | 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 |
