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Printed: 06 July 2022 10:59 PM

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16 Sep 2021 - Performance Report: Longlead Pan-Asian Absolute Return Fund
By: Australian Fund Monitors

Report Date16 September 2021
ManagerLonglead Capital Partners
Fund NameLonglead Pan-Asian Absolute Return Fund
StrategyEquity Long/Short
Latest Return DateAugust 2021
Latest Return1.85%
Latest 6 Months-7.73%
Latest 12 Months
Latest 24 Months (pa)
Annualised Since Inception-3.74%
Inception Date01 December 2020
FUM (millions)AU$82
Fund OverviewThe Fund will invest substantially all of its assets, to the extent not retained in cash or cash equivalents, in Class G Participating Shares of the Longlead Absolute Return Feeder Fund Ltd, an exempted company incorporated with limited liability in the Cayman Islands, which in turn invests substantially all of its assets in Longlead Absolute Return Master Fund Ltd, an exempted company incorporated with limited liability in the Cayman Islands, which predominantly deploys a long/short investment strategy based on fundamental, bottom up stock selection procedures and employs risk management techniques designed to manage portfolio risk.
Manager CommentsThe Longlead Pan-Asian Absolute Return Fund generated a net return of +1.85% in August. Longlead noted Pan-Asian markets recorded a small rebound in August but again exhibited elevated divergence by country.

Markets such as Taiwan, Australia and Japan performed well in response to generally favourable earnings reports and in the case of Japan a successful experience hosting the Olympics. Conversely, markets such as China, Hong Kong and South Korea saw more tempered performance in response to regulatory concerns and supply chain challenges.

Against this backdrop, profits on long positions were partially offset by losses on the short book. By sector, gains were posted in Consumer Staples, Consumer Discretionary and Industrial positions, while holdings in the Healthcare and Materials sectors detracted. Holdings in Australia and Singapore contributed to performance, while losses were experienced in China and Hong Kong.
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