The Surrey Australian Equities Fund (SAEF) returned -1.6% after all fees for November in line with the Small Ordinaries Accumulation Index (XSOAI). This takes the Fund’s rolling 12-month net return to +18% and two-year return to +25% per annum.
While the XSOAI was down for the month there were many moving parts within the index. For example, we were negatively impacted by the continued very sharp sell off in high quality technology names (which we believe will be short term in many stock cases) where the portfolio has a material weighting while we benefited from the strong rise in many of our resources’ company holdings. We aim to have a portfolio with exposure to strong Market Alpha upside performance while being diversified across sectors protecting downside risk which November demonstrated.
The Fund is open to new investors, links to the Information Memorandum and applications are via the links below. Applications for new and existing investors are now paperless and can be made online.
Nick Maclean
Managing Director
Surrey Asset Management
Level 47, 80 Collins Street, (North Tower) Melbourne VIC 3000.
Email: nmaclean@surreyassetmanagement.com Mobile: 0425 726 305