Ordinary Class Unit Price (APIR ETL8732AU)

As at 31/03/2021 (Unit prices are calculated monthly)

  • Unit Price

    $1.076

    As at end of month prior (cum distribution)

  • Entry Price

    $1.079
  • Exit Price

    $1.073

B Class Unit Price (APIR ETL5025AU)

As at 31/03/2021 (unit price calculated monthly)

  • Unit Price

    $1.023
  • Exit Price (Inc. Redemption Fee until 26/03/2022)

    $1.003

    Includes Redemption Fee until 26/03/2022

About the fund

The Fund employs a Long/Short (variable beta) equity strategy, seeking to provide positive absolute returns, in excess of the benchmark, with a focus on capital preservation. A variable beta strategy exploits opportunities to take positions (either Long or Short) in mispriced securities while taking advantage of the natural hedge between the Long and Short Portfolios. By varying the amount of hedging in place at any given time, the Investment Manager has an additional means of creating value and protecting the Fund’s capital.

In order to achieve the investment objective, Watermark conducts detailed, fundamental research on companies listed on the ASX, and the industries within which they operate. This analysis seeks to identify mispriced securities with the potential to provide attractive, risk-adjusted returns. Watermark constructs both a Long and Short Portfolio, comprising its best fundamental investment ideas, broadly diversified across sectors and market capitalisation segments.

Watermark uses top-down analysis of economies and asset markets to identify longer-term trends in order to adjust the Fund’s net exposure to the security market. In simple terms, when Watermark believes there are elevated risks in share markets it will increase the amount of hedging in place to reduce the Fund’s net exposure. Conversely, if Watermark believes there is compelling value on offer in the share market, or where the outlook for shares is buoyant, it can increase the Fund’s net exposure to take advantage of this.

As a unit trust, your investment is exchanged for Units in the fund, which represent your proportionate share in the value of the net assets of the Fund. Unit prices are calculated monthly based on the aggregate market value of the fund’s assets and liabilities.

The fund is a registered managed investment scheme, issued by Equity Trustees Ltd as the independent responsible entity.

Managing your investment

To view or manage your investment or access your statements please register via the secure portal InvestorServe managed by Boardroom Limited or contact the shareholder information line Phone 1300 005 027 (in Australia) +61 2 8023 5474 (international).

InvestorServe HOW TO INVEST

Latest Documents

Scheme of Arrangement Documentation - B Class Unit Holders