Against a backdrop of the ASX200’s June fall of 2.89 per cent, and equity based funds in general which fell 0.57 per cent, market neutral managers were up 1.74 per cent in June, followed by event driven at 0.52 per cent.
With 44 per cent of single funds results in so far, it has been a tough month with 41 per cent reporting positive returns, although 85 per cent outperformed the ASX.
Australian Fund Monitors’ data also shows that non equity based funds fell by 1.21 per cent in June and are down 0.47 per cent year-to-date.
AFM’s model portfolio of five equity based funds produced a positive return in June to take the YTD result to -0.51 per cent, outperforming the ASX by 11 per cent. Annualised since inception in October 2006 the portfolio has returned 14.59 per cent with annualised volatility at 5.9 per cent.
The portfolio’s best performance for the month came from Bennelong’s Long/Short fund, up 2.83 per cent, which has now returned investors an annualised 22.59 per cent since inception in January 2003.
