Firetrail Absolute Return Fund

An award-winning alternative

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Overview

The Firetrail Absolute Return Fund is a market-neutral, uncorrelated alternative of Firetrail’s best ideas. 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.

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

Fund Flyer
Five Key Holdings
Latest Performance Report
Stewardship Report

Uncorrelated

An absolute return focused fund which aims to generate positive returns in all market environments (over the medium to long term).

Designed to be different

The Fund is typically expected to be market-neutral, which means it is constructed in a way where returns are not dependent on the performance of the underlying share market.

A proven approach

A proven approach to generating positive returns from both long and short stock selection.

Portfolio manager

Managing Director & Portfolio Manager

Patrick Hodgens

Patrick is the Managing Director at Firetrail as well as a Portfolio Manager for the Firetrail Australian High Conviction Fund, Firetrail Australian Small Companies Fund, Firetrail Absolute Return Fund, and Firetrail S3 Global Opportunities Fund. Patrick has over 39 years’ experience investing in equity markets. Prior to joining Firetrail, Patrick spent 28 years at Macquarie Group as an Executive Director and Head of Listed Equities. Patrick holds a Bachelor of Business from the University of Technology Sydney.
Risk Portfolio Manager

John Zhu

John is Risk Portfolio Manager at Firetrail Investments. John’s primary responsibilities include investment risk management, portfolio analytics and systems. John has over 18 years’ quantitative investment experience. Prior to joining Firetrail, he spent 10 years at hedge fund Triple3 Partners as Portfolio Manager and Quantitative Analyst. John holds a Bachelor of Science, Mathematics and Statistics (Honours, University Medal) from the University of Sydney. He has completed all three levels of the CFA program.

Key Features

APIR WHT5134AU
Benchmark RBA Cash Rate
Portfolio allocation 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 This product is intended for use as a minor or satellite allocation for a consumer who is seeking capital growth and has a very high risk and return profile for that portion of their investment portfolio. It is likely to be consistent with the financial situation and needs of a consumer with a 3 to 5 years investment timeframe and who is unlikely to need to withdraw their money on less than one week’s notice.
Suggested investment timeframe 5 years or more
Risk Very high
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 1 A$20,000

Ratings & Awards

The Firetrail Absolute Return Fund has been recognised at the Zenith Fund Awards as the Alternative Manager of the year in 2020 and 2021.2 Further information on our Ratings and Certifications can be found in the Disclaimer & Disclosure section.

Unit Prices and distributions

Unit Price History

Unit prices are net of fees & do not include distributions. Calculation of unit prices is based on the net asset value plus/minus transaction costs divided by the total number of units on issue. Past performance is not a reliable indicator of future performance. The inception date is the date that the current investment strategy commenced, which is 14 March 2018. This material has been provided for general information purposes and must not be construed as investment advice.

Distribution History

Reports

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CFS FirstWrap

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mFund

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OneVue

Powerwrap (IDPS only)

Praemium

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Investor forms

1

The Responsible Entity has the discretion to accept lower initial investments. Does not apply to IDPS investments.

Disclaimer & Disclosure

This webpage is prepared by Firetrail Investments Pty Limited (‘Firetrail’) (ABN 98 622 377 913, AFSL 5168 21) as the investment manager of the Firetrail Absolute Return Fund (ARSN 624 135 879) (the ‘Fund’). Pinnacle Fund Services Limited (‘PFSL’) (ABN 29 082 494 362, AFSL 238371) is the product issuer of the Fund and is a wholly owned subsidiary of Pinnacle Investment Management Group Limited (‘Pinnacle’) (ABN 22 100 325 184). PFSL is not licensed to provide financial product advice.

The information contained in this webpage is general information only and does not take into account your objectives, financial situation or needs. Before making a decision to acquire, or continue to hold units in, the Fund, you should consider the Product Disclosure Statement (PDS) and Target Market Determination (TMD). For historic TMDs, please contact Pinnacle Client Services via phone 1300 010 311 or email service@pinnacleinvestment.com. Any persons relying on this information should obtain professional advice before doing so and consider the appropriateness of the information having regard to your specific circumstances.

Past performance is not a reliable indicator of future performance and the repayment of capital is not guaranteed. The specific risks associated with investing in the Fund, and the risks associated with the Fund’s investments, are discussed in Section 6 of the PDS. Any opinions and forecasts reflect the judgment and assumptions of Firetrail and its representatives based on information available as at the date of publication and may later change without notice.

The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) (“Zenith”) rating (Firetrail Absolute Return Fund assigned February 2023) referred to in this piece 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, including target markets of financial products, where applicable, 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 Fund Research Regulatory Guidelines.

2 The Zenith Fund Awards were issued on 30 October 2020 and 15 October 2021 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.

The rating issued 10/2023 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. © 2023 Lonsec. All rights reserved.