Man AHL Alpha (AUD) - Man Investments Australia

Man AHL Alpha (AUD)
Monthly report as at 30 June 2014
Annualised return since inception: 4.98%
Objective
Man AHL Alpha (AUD) (the ‘Fund’) is an Australian
registered managed investment scheme that accesses
the AHL Alpha Program.
The investment objective of the Fund is to generate
medium to long term returns by identifying and taking
advantage of upward and downward price trends through
trading in futures, options, forward contracts, swaps and
other derivative instruments using the AHL Alpha Program.
Annualised volatility since inception: 8.77%
Fund details
Inception date
1 September 2009
Net Asset Value3
$1.21414
Fund AUM
$159.2m4
1
Currency
AUD
Dealing
Daily5
Minimum investment
A$5,000
APIR code
MAN0002AU
Performance statistics1
Net track record
September 2009 to June 2014
September 2009 to June 2014
Last month
1.92%
Last 3 months
9.07%
Year to date
8.04%
10.21%
Last 3 years (p.a.)
4.74%
Annualised return since inception
4.98%
20.9%
Credit
3.7%
Currencies
19.3%
Energies
11.4%
Interest rates
2.5%
Metals
6.0%
Stocks
26.0%
Jun 14
Dec 13
Jun 13
Dec 12
Jun 12
Sector attributions
June 2014
1.2%
0.8%
0.4%
0.0%
Stocks
10.2%
Bonds
Metals
Agriculturals
Note: The chart is expressed in log scale to uniformly illustrate percentage changes
each month. It shows the actual trading results of the Fund from September 2009
to June 2014. It is not designed to predict or forecast the future performance of the
Fund. Performance figures are calculated as at 30 June 2014. Past performance is
not a reliable indicator of future performance.
Interest rates
June 2014
Credit
Sector allocations2
Jun 11
-12.40%
Dec 10
1000
Jun 10
Worst drawdown
8.77%
26.47%
Bonds
Total return since inception
1100
Dec 09
Annualised volatility since inception
1200
Agriculturals
Last 12 months
1300
Energies
8.04%
Dec 11
YTD:
Currencies
MTD: 1.92%
−0.4%
Man Investments Australia Limited
Level 21 Grosvenor Place, 225 George Street, Sydney NSW 2000 Australia
www.maninvestments.com.au
Man AHL Alpha (AUD)
Monthly commentary
Global financial markets ground out another few weeks
of slow moving but well supported trends. Commodity
markets continued this year’s theme of higher volatility
and lower correlations, leading agricultural markets to
perform positively.
Within energies, profits were secured from longs in Brent
and WTI crude; however some losses came from shorts in
the associated gasoil market where prices had previously
been less supported.
AHL’s long and short positions in agricultural markets saw
strong positive returns for the period. Prices for wheat and
corn, which spiked up earlier in the year, continued their
longer term downward trend, proving beneficial for AHL.
Losses were incurred in metals and currency trading. Gold
and silver jumped sharply, hurting AHL’s short positions.
In financial markets, long stock and bond holdings
generated returns. Federal Reserve chair, Janet Yellen,
managed to strike a calming and supportive tone in her
mid-month address. The S&P 500 inched further towards
new highs while yields on US bonds, which rose sharply
at the beginning of the month, retreated again towards
250bps. In Europe, the DAX index broke the 10000
barrier before retreating and European bonds continued to
perform strongly on the back of the ECB’s support.
Historical performance1
Year
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
YTD
2009
NA
NA
NA
NA
NA
NA
NA
NA
2.30%
-1.36%
1.86%
1.78%
4.62%
2010
-1.40%
-0.39%
4.02%
0.76%
-0.37%
0.72%
-0.98%
4.50%
1.81%
2.13%
-4.69%
4.23%
10.40%
2011
-2.51%
1.16%
-2.30%
4.81%
-3.26%
-2.46%
4.16%
3.21%
0.27%
-3.83%
-0.06%
0.97%
-0.32%
2012
0.00%
1.46%
-1.91%
0.36%
1.16%
-2.14%
3.75%
-2.20%
1.16%
-1.58%
1.57%
0.04%
1.51%
2013
2.39%
-0.50%
2.13%
3.87%
-5.72%
-3.63%
-0.59%
-1.25%
-1.79%
4.79%
1.64%
-0.65%
0.16%
2014
-0.89%
1.21%
-1.26%
1.54%
5.40%
1.92%
8.04%
The 2014 year to date figure is calculated from 1 January 2014 to 30 June 2014.
1
ast performance is not a reliable indicator of future performance. Performance figures are calculated net of all fees as at 30 June 2014 and assumes all
P
distributions are reinvested.
2
The sector allocations are designed to reflect the estimated risk exposure to each sector relative to the other sectors in the Fund. The figures are based on estimates
of the risk exposure of each sector as at 30 June 2014. A geographical breakdown of the Fund is not shown due to the diverse nature of the markets traded.
3
Information on the valuation of Units can be found at www.maninvestments.com.au/manahlalpha.
4
The Net Asset Value and the funds under management are as at 30 June 2014. Past performance is not a reliable indicator of future performance.
5
Refer to Sections 7 and 9 of the PDS.
Investment in Man AHL Alpha (AUD) (the ‘Fund’) is offered by Man Investments Australia Limited ABN 47 002 747 480 AFSL 240581 (‘MIA’). MIA is the Responsible
Entity and issuer of Units in the Fund and publisher of this document. Offers of Units will be made in the PDS issued by MIA dated 8 May 2013 which is available on
www.maninvestments.com.au/manahlalpha or by calling 1800 222 355 (Australia) or 0800 878 220 (New Zealand). Investors wishing to acquire Units will need to
complete the Application Form attached to the PDS.
The offer of Units in New Zealand is made pursuant to and in accordance with Part 5 of the Securities Act 1978 and the Securities (Mutual Recognition of Securities
Offerings – Australia) Regulations 2008 (New Zealand). Investors receiving the PDS in New Zealand should read the ‘New Zealand Shareholders: Warning Statement’ in
Section 11 of the PDS.
The information contained and used in this document is general information only and it has been prepared without taking into account anyone’s objectives, financial
situation or needs so before acting on it, consider its appropriateness to your circumstances. Persons considering investing in the Units should carefully read all of the
PDS and speak to their financial advisor before making an investment decision. Please also refer to the Identification Requirements document. US Persons are not
eligible to subscribe for Units pursuant to the PDS. Terms capitalised and used in this document have the same meaning as in the PDS. The data contained in this
report is provided from the Man database.
MIA believes its data to be reliable, however, disclaims liability for any act and/or omission on the part of any person or entity in reliance or purported reliance (whether in
whole or part) on the content or any part of the content of this document. Further, MIA is not liable for any errors or omissions in the content of this document or for any
consequences resulting from any errors or omissions in the content of this document.
Man Investments Australia Limited
Level 21 Grosvenor Place, 225 George Street, Sydney NSW 2000 Australia
www.maninvestments.com.au

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