The option invests in securities listed on sharemarkets around the world. The portfolio ideally will consist of around 100 - 200 stocks that the manager believes to be undervalued by the market. Where undervalued stocks cannot be found the option may be invested in cash and fixed interest securities. The manager may short sell shares that are considered to be overvalued and may engage in stock borrowing. Typically, the portfolio will have 50% or more net exposure to stocks. The manager may also invest in unlisted securities but in aggregate such investments will not exceed 20% of the value of the portfolio at the time of purchase. Derivatives (options, swaps and futures) may be used for risk management and for opportunities to increase returns, however, the effective exposure of derivative positions (excluding forward foreign exchange contracts and stock borrowing covering short equity positions) and stocks will not exceed 150% of the portfolio’s value. The manager may also use foreign exchange contracts and derivatives on foreign exchange contracts to take currency positions.

Margin Lenders:

Margin Lender	LVR	Website
Bank of Queensland Margin Lending	70%	BoQ
BT Margin Lending	75%	BT
Citi Smith Barney Margin Lending	65%	Citi
Equity Margins (Merrill Lynch)	55%	EM
Macquarie Margin Loan	70%	Macq
NAB Margin Lending	70%	NAB
St. George Margin Lending	70%	StG
Suncorp Margin Lending	70%	SunC

Note: Investment Objective and Investment Strategy details are copied from Fund Manager PDS or profile documents.

Performance data assumptions

Performance is calculated on an initial investment of $10,000 using entry price, with distributions reinvested using actual unit price. No tax or contribution fees have been deducted from the results. If your own investment was subject to contribution fees or if you did not reinvest distributions, your returns may be less than that shown. Your after-tax returns will also be less. Data is sourced directly from fund managers, but we offer no warranty as to the accuracy of the data, we suggest you verify the data from other sources before acting on the information on this site.

These charts show historical performance only and give no indication of future performance. This information is general in nature and does not take into account your personal circumstances, goals or investment objectives. You should assess whether the information is appropriate for you and consider talking to a financial adviser before making any investment decisions.