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Firetrail Absolute Return Fund

Uncorrelated returns driven by fundamental research

*Existing Unitholders:

We have recently transitioned unit registry services of the Firetrail Absolute Return Fund. This may impact you – find out more.

Fund objective

The Fund aims to outperform the RBA Cash Rate over the medium to long term.

Key features

The Fund is an absolute return fund which aims to generate positive returns in all market environments.

The Fund is typically expected to be market neutral (net market exposure generally between +/-5%), which effectively means the Fund is constructed in a way where returns are not dependent on the performance of the underlying share market.

The Fund achieves market neutrality by investing in a combination of long and short positions in equity securities listed, or expected to be listed, on the Australian Securities Exchange (ASX), as well as international markets. Exposure may also be through the use of derivatives.

Long only positions are selected using in-depth fundamental analysis. The short portfolio is constructed using a combination of fundamental analysis, systematic strategies and other value-adding strategies.

Portfolio Managers

Patrick Hodgens, James Miller & Ramoun Lazar

 

The Firetrail Absolute Return Fund has been recognised at the Zenith Fund Awards as the Alternative Manager of the year in 2020.1

 

Key information

Investment guidelines

The Fund’s key investment guidelines are summarised below. For further details, please refer to the latest Product Disclosure Statement.

APIR WHT5134AU
Benchmark RBA Cash Rate
Market exposure Typical net market exposure +/-5%

Max net market exposure range +/-30%

Derivatives may be used to gain equities exposure up to a max of 200% of the net asset value of the Fund.

Suitable investor profile The Fund may be suitable for investors who are looking to outperform the RBA Cash Rate over the medium to long term and are prepared to accept the risks of the Fund set out in section 6 of the Product Disclosure Statement.
Suggested investment timeframe 5 years or more
Short selling Permitted
Borrowings The Fund will borrow stock to enable short positions as part of the investment strategy. The Fund will not borrow cash.
Legal structure Unlisted, open-ended Australian unit trust
Distribution Semi-annually, subject to the Fund having sufficient distributable income as at 30 June and 31 December.
Minimum initial investment 2 A$20,000

Investor Forms

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Xplore Wealth (Formerly Linear Managed Accounts)

 

Ratings
Lonsec Recommended

Prices and distributions

Unit prices are net of fees & do not include distributions. Distribution history is available at the bottom of the table; please select ‘show all entries’ in the drop down or download the PDF using the download button above the table.

1.The Zenith Fund Awards were issued 30 October 2020 by Zenith Investment Partners (ABN 27 130 132 672, AFSL 226872) and are determined using proprietary methodologies. The Fund Awards are solely statements of opinion and do not represent recommendations to purchase, hold or sell any securities or make any other investment decisions. To the extent that the Fund Awards constitutes advice, it is General Advice for Wholesale clients only without taking into consideration the objectives, financial situation or needs of any specific person. Investors should seek their own independent financial advice before making any investment decision and should consider the appropriateness of any advice. Investors should obtain a copy of and consider any relevant PDS or offer document before making any investment decisions. Past performance is not an indication of future performance. Fund Awards are current for 12 months from the date awarded and are subject to change at any time. Fund Awards for previous years are referenced for historical purposes only.
2.The Responsible Entity has the discretion to accept lower initial investments. Does not apply to IDPS investments.

 

Disclaimer and disclosure

All website content in respect of the Firetrail Absolute Return Fund (ARSN 624 135 879),  the Firetrail Australian High Conviction Fund (ARSN 624 136 045), and the Firetrail Australian Small Companies Fund (ARSN 638 792 113) (“the Funds”) are issued by Pinnacle Fund Services Limited ABN 29 082 494 362 AFSL 238 371 (“PFSL”) as responsible entity of the Funds and is prepared by Firetrail Investments Pty Limited (ABN 98 622 377 913) (AFSL 516821) (“ Firetrail”) as the investment manager of the Funds. PFSL is not licensed to provide financial product advice.

The information provided in this website is of a general nature only and has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision in respect of the Fund, you should consider the current product disclosure statement (PDS) and Target Market Determination (‘TMD’) of the Fund which are available at https://firetrail.com/products/, and assess whether the Fund is appropriate given your objectives, financial situation or needs. If you require advice that takes into account your personal circumstances, you should consult a licensed or authorised financial adviser.

Neither PFSL nor Firetrail guarantees repayment of capital or any particular rate of return from the Fund. Neither PFSL nor Firetrail gives any representation or warranty as to the currency, reliability, completeness or accuracy of the information contained in this website. All opinions and estimates included in this website constitute judgments of Firetrail as at the date of website creation and are subject to change without notice. Past performance is not a reliable indicator of future performance.

The Zenith Investment Partners (“Zenith”) Australian Financial Services License No. 226872 rating (WHT5134AU assigned February 2021) referred to in this document is limited to “General Advice” (s766B Corporations Act 2001) for Wholesale clients only.  This advice has been prepared without taking into account the objectives, financial situation or needs of any individual and is subject to change at any time without prior notice.  It is not a specific recommendation to purchase, sell or hold the relevant product(s).  Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs.  Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website.  Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments.  Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at https://www.zenithpartners.com.au/regulatory-guidelines-funds-research

The rating issued 09/2021 is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445 (Lonsec). Ratings are general advice only, and have been prepared without taking account of your objectives, financial situation or needs. Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and Lonsec assumes no obligation to update. Lonsec uses objective criteria and receives a fee from the Fund Manager. Visit lonsec.com.au for ratings information and to access the full report. © 2021 Lonsec. All rights reserved.