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- Our UK equity
Long/Short fund, managed by Alan Brunsden, has now established a three-year
track record. Since inception in mid-January 2006, Fund NAV has appreciated
by 42.3%, vs. a fall of 19.3% by the FTSE All Share Index. Over the
last twelve months, the Fund has achieved an increase in NAV of 3.66%,
compared with a fall in the FTSE All Share of 27.42%, and a fall in
the global Long/Short Directional equity group average of 15.62%.Volatility
of NAV has been below average compared with the peer group over 12
months. Correlation with the FTSE has been -0.08, and all performance
has been derived from alpha *.Alan produced excellent long-only performance
in pension funds and unit trusts, and is particularly good at identifying
value in small/mid-caps. Helped by his stock-jobbing origins, the
net performance contribution from shorting since the Premier’s inception
has been substantial **.The current year has begun well for the Fund.
Notes: *
Source: Bloomberg; Peers = av. of 1,647 funds; ** Source: BNY Mellon;
FTSE All Share Index is total return
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