Absolute Return Asia Pacific Fund

The Pengana Absolute Return Asia Pacific Fund invests in a portfolio of Asia Pacific equities, with a focus on significant corporate events in the region.

Investment strategy 

The Pengana Absolute Return Asia Pacific Fund invests in a portfolio of Asia Pacific equities. The Fund aims to deliver consistent returns that are uncorrelated with traditional asset classes, by exploiting inefficiencies in share prices caused by significant corporate events in the Asia Pacific region.

The philosophy of the Fund is based on seeking consistent superior investment returns for investors rather than returns driven by the general direction of equity markets. The Fund employs an active fundamental stock selection process based on proprietary models.

The investment team use three investment strategies to participate in corporate events - Mergers & Acquisitions (M&A), Relative Value and Directional Alpha strategies.

Corporate events can create market inefficiencies and Pengana's proprietary fundamental analysis has been designed to uncover attractive opportunities for investors.

The Fund aims to deliver consistent returns with low volatility and a low correlation with equity markets and other traditional asset classes. It therefore has the potential to provide excellent diversification benefits with other investments in a portfolio.

The portfolio construction process attempts to control risk by maintaining low exposure to relative market movements and other broad risk factors. Stock positions may be either long or short and leverage may be used.

Benefits of investing:

Key focus on capital preservation and risk management. This is achieved through low net market exposure and hedging the exposure to other broad risk factors.

Diversification. Returns are generated from stock specific events, such as mergers and acquisitions, rather than market movements, providing attractive potential diversification benefits.

Ability to exploit structural changes occurring across the Asia Pacific region. The Fund invests across multiple investment strategies and geographies to take advantage of structural changes and growth occurring across the region.

Absolute return focus. The Fund has an absolute return investment objective and aims to generate returns throughout different market conditions by investing across different sub strategies, sectors and markets.

Long track record. The Fund has a long track record, producing positive returns with low volatility since inception.

  • Performance History
    Fund performance for Absolute Return Asia Pacific Fund

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    Investment Period to
    Please select a minimum 60 day date range.
    Performance at March 2018
    1 MTH 1 YEAR 3 YEARS 5 YEARS Since Inception
    Absolute Return Asia Pacific Fund -0.13% 6.71% 2.16% 4.56% 8.09%
    RBA Cash Rate Target 0.12% 1.49% 1.71% 2.03% 2.95%
    Outperformance vs. RBA -0.24% 5.22% 0.46% 2.53% 5.14%
     
    Absolute Return Asia Pacific Fund -0.13% 6.71% 2.16% 4.56% 8.09%
    MSCI AC Asia Pacific Index (USD, Unhedged, PR) -2.59% 17.59% 5.70% 4.97% 5.17%
    Outperformance vs. MSCI 2.46% -10.88% -3.53% -0.41% 2.92%

    Net performance figures are shown after all fees and expenses, and assume reinvestment of distributions. Past performance is not a reliable indicator of future performance. The value of investments can go up and down. Inception date: September 2010. These performance figures show the returns of the Absolute Return Asia Pacific Fund from inception on 1 September 2010 to the current date and, for the period prior to 1 September 2010, the since inception returns for the Australian dollar denominated shares issued by the Pengana Asia Special Events (Offshore) Fund ("Offshore Fund") adjusted to reflect the different fees which apply to the Fund. The strategy inception date is 1 October 2008. The Fund is fully invested into the Offshore Fund.

  • Fund Facts
    Minimum investment:

    $20,000

    Recommended timeframe:

    Five or more years

    Inception date:

    1 September 2010

    Benchmark:

    RBA Cash Rate, plus 5%

    Management fee (incl GST):

    1.50% per annum of the net asset value of the underlying Fund

    Performance fee:

    20.5% of any increase in the Net Asset Value of the Fund which is greater than the cash rate hurdle and less any prior loss carried forward and adjusted for applications, redemptions and distributions to investors

    Buy/sell spread:

    0.25% on both applications and redemptions

    Entry/ exit fees:

    Nil

    Fund pricing:

    Daily

    Distribution frequency:

    Distributions are payable to Direct Investors on an annual basis, usually within 60 days after 30 June each year

    Typical number of stocks:

    40-80

    APIR code:

    PCL0004AU

    Platform availability
    • AMP North
    • AMP Summit
    • BT Wrap
    • Hub 24
    • IPAC iAccess
    • IOOF Pursuit
    • Macquarie Wrap
    • Mason Stevens
    • NetWealth
    • OneVue
    • Powerwrap
  • Unit Prices
    Unit Prices History Table
    Date Application Redemption Distributions
    18 Apr 2018 1.1314 1.1257 -
    17 Apr 2018 1.1272 1.1216 -
    16 Apr 2018 1.1288 1.1232 -
    13 Apr 2018 1.1309 1.1253 -
    12 Apr 2018 1.1273 1.1217 -
    11 Apr 2018 1.1296 1.1240 -
    10 Apr 2018 1.1260 1.1204 -
    09 Apr 2018 1.1153 1.1097 -
    06 Apr 2018 1.1126 1.1070 -
    05 Apr 2018 1.1110 1.1055 -
    04 Apr 2018 1.1067 1.1012 -
    03 Apr 2018 1.1097 1.1042 -
    29 Mar 2018 1.1128 1.1072 -
    28 Mar 2018 1.1071 1.1015 -

    Download Unit Prices

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  • Investment Team
    Antonio Meroni
    Antonio Meroni

    Fund Manager

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    Vikas Kumra
    Vikas Kumra

    Fund Manager

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    Lee Ann
    Lee Ann Lee

    Middle Office Data Analyst

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    Jingging
    Jingqing Hong

    Analyst

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    Vivien Lee
    Vivien Lee

    Junior Middle Office Support Analyst

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  • Investor Notifications
    Complaints resolution process for retail clients who invest through Platforms Download
    Attribution Managed Investment Trust regime changes - 4 December 2017 Download
  • Reports and Resources

    Absolute Return Asia Pacific Fund

     

  • Ratings and Awards
    Ratings
    Lonsec Investment Grade** Click to View
    Zenith Approved* Click to View

    This report may only be accessed by holders of Australian Financial Services Licences and their authorised representatives.

    **The Lonsec Rating (assigned July 2017) presented in this document is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445. The Rating is limited to "General Advice" (as defined in the Corporations Act 2001 (Cth)) and based solely on consideration of the investment merits of the financial product(s). Past performance information is for illustrative purposes only and is not indicative of future performance. It is not a recommendation to purchase, sell or hold Pengana Capital product(s), and you should seek independent financial advice before investing in this product(s). The Rating is subject to change without notice and Lonsec assumes no obligation to update the relevant document(s) following publication. Lonsec receives a fee from the Fund Manager for researching the product(s) using comprehensive and objective criteria.

    *The Zenith Investment Partners ("Zenith") Australian Financial Services License No. 226872 rating (assigned to Pengana Absolute Return Asia Pacific Fund 12 December 2017) referred to in this document is limited to “General Advice”(as defined by section 766B of Corporations Act 2001) and based solely on the assessment of the investment merits of the financial product on this basis. It is not a specific recommendation to purchase, sell or hold the relevant product(s), and Zenith advises that individual investors should seek their own independent financial advice before investing in this product. The rating is subject to change without notice and Zenith has no obligation to update this document following publication. Zenith usually receives a fee for rating the fund manager and product against accepted criteria considered comprehensive and objective.

    Awards
    Nominee - Best Asian Event Driven Fund, Eurekahedge Asian Hedge Fund Awards 2015

    Nominee - Best Asian Event Driven Fund, Eurekahedge Asian Hedge Fund Awards 2015

    Nominee - Best Asian Event Driven Fund, Eurekahedge Asian Hedge Fund Awards 2014

    Nominee - Best Asian Event Driven Fund, Eurekahedge Asian Hedge Fund Awards 2014

    Winner - World Finance Hedge Funds Awards 2013, Best Event Driven Fund, Asia Specific

    Winner - World Finance Hedge Funds Awards 2013, Best Event Driven Fund, Asia Specific

    Nominee - Best Asian Event Driven Fund, Eurekahedge Asian Hedge Fund Awards 2013

    Nominee - Best Asian Event Driven Fund, Eurekahedge Asian Hedge Fund Awards 2013

    Winner - Excellence in Investment Management – Event Driven – Asia Special Category, IAIR Asset Management Awards 2013

    Winner - Excellence in Investment Management – Event Driven – Asia Special Category, IAIR Asset Management Awards 2013

    Winner - Best Asian Event Driven Fund, Eurekahedge Asian Hedge Fund Awards 2012

    Winner - Best Asian Event Driven Fund, Eurekahedge Asian Hedge Fund Awards 2012

    Winner - World Finance Hedge Funds Awards 2012, Best Event Driven Fund, Asia Specific

    Winner - World Finance Hedge Funds Awards 2012, Best Event Driven Fund, Asia Specific

    Finalist - Best Singapore Fund, Eurekahedge Asian Hedge Fund Awards 2012

    Finalist - Best Singapore Fund, Eurekahedge Asian Hedge Fund Awards 2012

    Finalist - Best Singapore Fund, Eurekahedge Asian Hedge Fund Awards 2012

    Finalist - Best Singapore Fund, Eurekahedge Asian Hedge Fund Awards 2012

    Finalist - Zenith/ Professional Planner 2012 fund awards (Alternatives category)

    Finalist - Zenith/ Professional Planner 2012 fund awards (Alternatives category)


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