X-Chequer Flexible Long/Short Fund
The X-Chequer Flexible Long/Short Fund aims to deliver real returns over the medium term. With the ability to hedge, preserving capital is paramount in the process. The Fund will therefore have equity like returns with limited downside and may even be uncorrelated to the equity market.
It is primarily invested in the South African stock market, employing a long/short strategy. Very limited uses of futures are made to hedge out market risk.
The Fund combines a bottom-up stock picking process with various proprietary tools to construct the portfolio. Fundamental analysis is key to identifying investment opportunities.
This Fund discerns itself by that it may from time to time have a more aggressive directional equity exposure depending on our view on the market. Smaller market capitalisation stocks are invested into but still with limited exposure as per the mandate. Shorter term trading opportunities could be more aggressive for the Fund which may add to returns. Position sizes tend to be bigger to better express high conviction views. The Fund aims to deliver a net return of two to three times SA cash rates.
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