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Absolute Equity Performance Fund Ltd

Fund Manager: Bennelong Funds Management
Inception Date: Dec 16, 2015

A year and a half ago, Richard "Dick" Fish was called Australia's best investor. At the time, he was in the middle of a media blitz and looking to raise money for a listed investment company – the Absolute Equity Performance Fund – and ended up getting just over $100 million. But now he has walked away, retiring on June 30, in a move that throws the spotlight on the very specific strategy of the fund and the key-man risk associated with it. Investors could be excused for feeling very short-changed but it's probably a case of "caveat emptor" all over again. [More]

2016 has certainly started with a bang. As we write this the ASX is down around 8% for the year, some advisers are telling their clients to sell everything and the most fear and panic we’ve seen for a number of years are gripping global markets. This two part series is going to look at some of the strategies and funds that can be used to protect your portfolio in these volatile times. Part 1 below focuses on Listed Investment Companies (LICs), with part 2 focusing on Exchange Traded Funds ... [More]

As we wrote about in our last post, 2015 was a huge year for ETFs and LICs in Australia, with a total of 46 new products launched, and the total pool of funds sitting in these products growing by around 40%, all in a year that global share markets went nowhere. We think 2016 will be even bigger. Here’s our predictions: 1. Our ETF market will grow to over 200 funds on the ASX in 2016. We finished 2015 with 138 ETFs available on the ASX, a growth of ~35% from the previous year. We&rsqu ... [More]

The listed investment company that will follow the strategy of arguably the best investor in Australia had a positive debut on the ASX on Wednesday after it finished its first day of trading up slightly higher than its offer price. Shares in the Absolute Equity Performance Fund closed on Wednesday afternoon at $1.15 – 5¢ above its pre-IPO offer price. The fund is managed by a strategy similar to the Bennelong Long Short Equity Fund strategy, which has returned investors 10 times their money since inception in 2002 compared to the broader sharemarket that returned about two times during the period. [More]

One of the biggest LIC IPOs of the year, Absolute Equity Performance Fund Ltd (AEG) today had its first day of trading on the ASX. Raising $100m capital, the IPO was reportedly 3-4 times oversubscribed. Whilst the fund is new, the name behind it certainly isn't.  The new fund is the latest offering by Australian funds management bohemoth Bennelong (with over $6b of funds under management), and is based on the Bennelong Long / Short Equity Fund which has reported an impressive 19.4% a ... [More]

Richard "Dick" Fish is, by the numbers at least, Australia's best investor. Alongside partner Sam Shepherd and his team, the legendary pairs trader has built a 10-year track record that is second to none. Since its inception in 2002, the Bennelong Long Short Equity Fund strategy has returned investors 10 times their money, compared to about two times for the broader sharemarket. [More]

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