Castle Point Ranger Fund Update- April 2015

The Ranger Fund monthly Fact Sheet is now available.
The Ranger Fund is a high conviction portfolio of New Zealand and Australian listed companies. The Fund’s objective is to provide equity-like returns over the long run while minimising exposure to extreme share market fluctuations. During periods of market stress, the fund will seek to preserve capital by preserve capital by holding significant amounts of cash and bonds, shorting individual shares, selling index futures contracts and/or buying index put options. The Fund will not be levered or net short.

Performance Commentary:
During March the performance of the Ranger Fund was negatively impacted by the performance of Swick Mining Services, Corporate Travel Management, Australian Vintage and Macmahon Holdings. The Fund benefited from positive performance by Emeco Holdings and Touchcorp. During the month exited its positions in Tower and Emeco Holdings while adding a position in Touchcorp.

To read the full story, please click the button below to download.