18 October 2010
Zenith Investment Partners (Zenith) has awarded a ‘highly recommended' rating to Bennelong Funds Management's (Bennelong's) Long Short Equity Fund. The fund is managed by Bennelong Long Short Equity Management (BLSEM) and was one of only 2 of the 18 market neutral funds reviewed to receive the ‘highly recommended' rating.
BLSEM was founded in 2002 as a joint venture between Richard Fish and Bennelong and today manages money on behalf of fund-of-funds, private investors, corporate super funds and industry funds.
Wealth of investment experience
Zenith rates the investment team highly and considers the portfolio management pairing of Richard Fish (CIO) and Sam Taylor (Senior Analyst) to be strong. "While the team is boutique in size, it is experienced and highly regarded by Zenith," said Zenith's Senior Investment Analyst James Tsinidis. The fund's investment universe is primarily the S&P/ASX 100 and the strategy has over seven years of successful performance history.
Richard has over 25 years of investment experience in the Australian equities market and is regarded by Zenith as "a highly accomplished investor both on the long and short side."
Diversified market neutral portfolio
Zenith noted that BLSEM's stock selection process is well structured and rigorously applied, using a qualitative bottom-up stock selection approach to build a diversified market neutral portfolio of pair trades.
"The manager has built an excellent long-term track record using its pairs trading process," said Tsinidis. "The investment process is working and is repeatable." Zenith also believes that the joint venture arrangement with be is extremely robust with the support of be allowing the BLSEM investment team to focus purely on investment duties.
The Bennelong Long Short Equity Fund (BLSEM) is recognised by Zenith as "an attractive offering that offers investors a truly market neutral fund that should act as an excellent diversifier within a broader portfolio."