Auscap Long Short Australian Equities Fund

The Auscap Long Short Australian Equities Fund (Fund) invests primarily in Australian listed equities and focuses on fundamental, value-driven, long and short positions.

The Fund:

• aims to generate strong absolute returns in excess of the Benchmark;
• is actively managed by Auscap Asset Management Limited’s (Auscap) experienced Portfolio Managers;
• enables the Portfolio Managers to concentrate the Fund’s capital on the opportunities they perceive to be offering the best risk-adjusted return; and
• has the ability to hold both long and short positions.

The Fund’s investment objective is to generate strong absolute returns in excess of the Benchmark, which is the All Ordinaries Accumulation Index.

A copy of the Product Disclosure Statement (PDS) for the Fund is available on request or at www.auscapam.com/auscap-fund/pds/. A copy of the Target Market Determination for the Fund, prepared by Auscap in connection with the Design and Distribution Obligations, is available on request or at www.auscapam.com/ddo/.

Auscap is a value-based equities investment manager. The Fund targets attractive total return opportunities through disciplined investing. Auscap aims to preserve capital and generate long-term, compounding returns. The Fund’s ability to generate returns consistent with its investment objective is dependent on a number of assumptions which may not eventuate, including sufficient attractive investment opportunities, the market’s recognition of the value of these opportunities in line with Auscap’s expectations, and the ability of Auscap to limit the number and impact of errors in analysis, assessment and execution of its investment strategy.

The Fund is a high conviction portfolio that is typically invested in between 30 and 60 positions. The Fund is long-biased, however, may be net long, short or neutral depending on the strategies being employed by Auscap at the relevant time. Auscap will allocate capital in accordance with expected performance and risk measures. Short selling will be used to expand the range of available investment opportunities and may achieve returns when the value of a security is expected to fall. See the Fund's Product Disclosure Statement (PDS) for more information on short selling and the risks associated with short selling.

Auscap will seek to achieve the Fund’s investment objective by investing the Fund’s capital in securities it believes will appreciate in value, whilst shorting securities it considers will depreciate in value. The typical asset classes invested in are listed Australian equities denominated in Australian dollars and cash. From time to time, the Fund may invest in other asset classes.

Click here to view the 'Fund Performance' page on Auscap's website.

This webpage contains information and performance figures in relation to the Auscap Long Short Australian Equities Fund ARSN 615 542 213 (Fund) from inception of the Fund. Actual performance may differ for investments made in different classes or at different times throughout the year. This webpage is intended to provide general background information only. It is not a Product Disclosure Statement (PDS) under the Corporations Act 2001 (Cth), nor does it constitute investment, tax, legal or any other form of advice, recommendation or opinion to be relied upon when making an investment or other decision. Any opinions and forecasts on this webpage reflect the judgment and assumptions of Auscap Asset Management Limited ACN 158 929 143, AFSL 428014 (Auscap) and its representatives on the basis of information available as at the date of publication, and may later change without notice. The content of this webpage does not constitute an offer or solicitation to subscribe for units in the Fund or an offer to buy or sell any financial product. Past performance is not a reliable indicator of future performance. While all reasonable care has been taken to ensure that the information on this webpage is complete and correct, no representation or warranty is given as to the accuracy of any of the information provided, including any forecasts. To the maximum extent permitted by law, Auscap, its related bodies corporate, directors, employees and representatives are not liable and take no responsibility for the accuracy or completeness of this webpage. Before deciding whether to acquire, or to continue to hold, units in the Fund, a prospective or existing investor should fully review the information, the disclosures and the disclaimers contained in all relevant Fund documents, including in particular the Fund’s disclosure document, the PDS, or any supplement to that document, and consider obtaining investment, legal, tax and accounting advice appropriate to their circumstances. A copy of the Fund’s PDS is available on request or at www.auscapam.com/auscap-fund/pds/. A copy of the Target Market Determination for the Fund, prepared by Auscap in connection with the Design and Distribution Obligations, is available on request or at www.auscapam.com/ddo/.