20 April 2015
The Bennelong Long Short Equity Fund (the Fund) has maintained its ‘Highly Recommended’ rating by Zenith Investment Partners (Zenith). In their most recent report, Zenith consider the Fund to be “… a premium offer in the Australian market neutral sector, providing access to principal Richard Fish’s considerable stock selection skills”.
Bennelong Long Short Equity Management (BLSEM) is a boutique hedge fund manager founded by Richard Fish in 2002 as a joint venture with Bennelong Funds Management (Bennelong). The BLSEM team comprises of Richard (CIO), Sam Shepard (Senior Portfolio Manager), Sam Taylor (Senior Analyst) and Steven Lambeth (Senior Analyst).
The Fund uses a qualitative bottom-up stock selection approach to build a diversified market neutral portfolio of pair trades based on the relative mispricing of Australian securities. BLSEM will tend to be long high return on equity (ROE) companies and short low ROE companies. Zenith note that the
key feature of the portfolio has been the stability of pairs and the limited instances where a stock flips from long to short, and vice versa. Richard is regarded by Zenith as “…an impressive investor with a deep market awareness and a proven ability to isolate the key drivers of stock performance”.
The Fund is offered via an Information Memorandum and as such can only be accessed by sophisticated (wholesale) investors.
Disclaimer: The Zenith Investment Partners (“Zenith”) Australian Financial Services License No. 226872 rating (assigned April 2015) referred to in this document is limited to “General Advice” (as defined by the 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. 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. Zenith usually charges the product issuer, fund manager or a related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessment’s and at http://www.zenithpartners. com.au/RegulatoryGuideline