Aspect Diversified Futures - Class A
About this Fund
|FUND MANAGER||Aspect Capital|
|INVESTMENT STYLE||The Fund uses a managed futures strategy to generate significant medium-term capital growth independent of overall movements in traditional stock and bond markets within a rigorous risk management framework.|
|INVESTMENT PROFILE||The Fund aims to provide a return greater than the Reserve Bank of Australia cash rate over rolling three-year periods after fees and taxes.|
|CURRENCY MANAGEMENT||Active management|
|BENCHMARK||RBA Cash Rate|
|FUND SIZE||RBA Cash Rate|
|NO. OF HOLDINGS||140+|
Benefits of investing in the Aspect Diversified Futures - Class A
Alliance with Aspect
The fund is offered to you by Colonial First State though an alliance with Aspect, providing you the opportunity to have your investment managed by one of the world's leading systematic investment managers.
Professional investment management
Aspect was founded in 1997 by Anthony Todd, Martin Lueck, Michael Adam and Eugene Lambert. Adam and Lueck are two of three co-founders of Adam, Harding & Lueck (AHL, now a part of Man Group plc), where they pioneered the application of systematic techniques to investment management. Aspect invests heavily in the continuous research-driven evolution of its investment systems and their efficient implementation across a wide range of liquid asset classes with the aim of generating high-quality and diversifying returns for clients.
Award winning service
We are committed to delivering superior client service and administration which has been recognised through many industry awards.
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Medium to High (SRM 5)
About the Fund
Systematic, momentum-based investment programme complemented by a range of modulating strategies. Applied to many of the most liquid global financial and commodity futures, currency forwards and other derivative contracts. Operating in over 220 contracts in over 180 markets across eight different asset classes. Seeks to generate sustainable, high-quality returns, which are uncorrelated with returns from major asset classes.
Investment philosophy and process
Aspect manages the Aspect Diversified Futures Fund - Class A in accordance with the Aspect Diversified Programme (the Programme).
The Programme applies a systematic momentum-based investment strategy to many of the most liquid global financial and commodity futures, currency forwards and other derivative contracts. The Programme operates in approximately 220 contracts in approximately 180 markets across eight different asset classes. A quantitative process is used to collect, process and analyse market data in order to determine the model's view of the trend following opportunities in each market in the portfolio. The process used is similar across all sectors and contracts, but is adapted where appropriate to take into account differences between markets. A wide range of market data is analysed using proprietary statistical tools to identify and exploit directional moves in market behaviour. This data may include price data, idiosyncratic fundamental asset data and market-wide economic data and is tailored for each sector.
The Programme's investment objective is to generate sustainable, high-quality returns which are independent of overall movements in traditional stock and bond markets. The Programme aims to generate these returns within a rigorous risk management framework. By maintaining a comparatively small exposure to any individual contract, the Programme seeks to achieve true sector and contract diversification, thereby allowing a wide range of opportunities to be exploited and maximising expected long-term risk-adjusted returns.
The investment approach that underpins the Programme is proprietary and continues to evolve through rigorous research and development. The initial basis of the strategy was developed by Michael Adam and Martin Lueck in 1983 with significant enhancements applied since that time.
Aspect's investment philosophy has remained consistent since the company's inception and involves a scientific approach to investment driven by Aspect's belief that market prices are not random but rather that they display persistent, statistically measurable and predictable behaviour and idiosyncrasies. Through sophisticated quantitative research and a disciplined approach, these effects can be successfully identified and exploited for investment profit.
How we invest your money
Global financial and commodity futures, currency forwards and (through an unlisted unit trust) other derivative contracts are used to establish the market exposure of the fund. The face value of the fund's combined long and short positions will frequently be greater than 100% of the net asset value of the fund and, as a result, the fund will often be leveraged. The fund receives earnings from cash allocations for the benefit of investors.