The Firetrail Absolute Return Fund has been recognised at the Zenith Fund Awards as the Alternative Manager of the year in 2020.
The investment team including portfolio managers Patrick Hodgens, James Miller and Ramoun Lazar, received the award following strong performance in a year where the fund delivered a positive return of +21.2% to 30 September 2020. Providing much needed diversification from the Australian equity market which delivered a negative return of -10.2% over the same period.
The Fund is a market-neutral strategy that aims to deliver returns that are uncorrelated, or different to, the underlying Australian equity market. The strategy invests both long and short in Australian listed companies with the aim of generating a positive return over the medium-term (3 to 5 years), irrespective of the equity market direction. The strategy is fundamentally driven, investing in undervalued companies with robust earnings in the long portfolio, whilst shorting companies with high earnings risk to generate a positive return from falling share prices. The strategy also uses shorting to ‘hedge’ the portfolios exposure to unwanted market and macroeconomic risks. The result is a market neutral portfolio, driven by long and short stock selection, as opposed to market or macroeconomic movements.
Whilst the Firetrail Absolute Return Fund launched in early 2018, the investment team has significant experience managing equity market-neutral strategies. Most notably the Macquarie Pure Alpha Fund, which was awarded the Zenith Alternative Fund Manager award as well as the Market Neutral Fund of the Year at the Hedge Funds Rock awards in 2017.
This communication was prepared by Firetrail Investments Pty Limited (ABN 98 622 377 913, AFSL 516821) (Firetrail). Any opinions or forecasts reflect the judgment and assumptions of Firetrail on the basis of information at the date of the publication and may later change without notice. Any projections are estimates only and may not be realised in the future. Unauthorised use, copying, distribution, replication, posting, transmitting, publication, display, or reproduction in whole or in part of the information in the article is prohibited without obtaining prior written permission from Firetrail.
Pinnacle Fund Services Limited ABN 29 082 494 362 AFSL 238371 (‘PFSL’) is the product issuer of the Firetrail Absolute Return Fund ARSN 624 135 879 (Fund). PFSL is a wholly-owned subsidiary of the Pinnacle Investment Management Group Limited (‘Pinnacle’) ABN 22 100 325 184. The Fund Product Disclosure Statement (‘PDS’) is available at www.firetrail.com. Any potential investor should consider the PDS before deciding whether to acquire, or continue to hold units in, the Fund.
While Firetrail, PFSL and Pinnacle believe the information contained in this communication is reliable, no warranty is given as to its accuracy, reliability or completeness and persons relying on this information do so at their own risk. Subject to any liability which cannot be excluded under the relevant laws, Firetrail, PFSL and Pinnacle disclaim all liability to any person relying on the information contained in this communication in respect of any loss or damage (including consequential loss or damage), however caused, which may be suffered or arise directly or indirectly in respect of such information. This disclaimer extends to any entity that may distribute this communication.