Alternative funds available in NZ

Invests in Absolute Capital’s wholesale fund of the same name and is a unique fund which generates returns from income producing assets and differs from a traditional fixed income product by using securitisation to distance its capital from the risk in underlying assets. The Yield Strategies Fund (Wholesale) with an identical investment strategy has returned 9.23% (net of fees) to 31 December 2002+.

The Absolute Return Fund (ASX: AAB)

Aims to produce absolute returns with relatively low risk by combining an alternative debt portfolio with a multi-strategy, multi-manager hedge fund portfolio. This gives retail investors access to approximately 30 hedge funds globally. The Absolute Return Fund (Wholesale) with a similar strategy has returned 5.86% (net of fees) to 31 December 2002+.

The Equity Long/Short Strategies Fund (ASX: ELS)

Invests in Absolute Capital’s wholesale fund of the same name with a multi-manager portfolio of equity long/short hedge funds which aim to use offsetting positions to lower the market risk from the change in share prices. The Equity Long/Short Strategies Fund (Wholesale) with a similar strategy has returned -0.15% (net of fees) to 31 December 2002+, compared with a -28.0% return from global equities (MSCI World Index, AUD terms) for the 2002 calendar year .

+Performance figures are reported as at 31 December 2002.

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