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PM Capital Absolute Performance
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General Information
Fund Name PM Capital Absolute Performance
Manager PM CAPITAL Limited
APIR Code PMC0100AU  
Sector/Asset Class Equity World Large Blend  
Morningstar Rating  (as at 30th Apr 2013)  
Morningstar Recommendation Login now to view this recommendation.  
Legal Structure Investment Fund  
Fund Inception 1st Oct 1998
Fund Size $148.02 million (as at 30th Apr 2013) 
Entry Price $1.4611 (as at 20th May 2013) 
Exit Price $1.4539 (as at 20th May 2013) 
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Fund Performance (as at 30th Apr 2013)   NOTE : returns for periods greater than 1 year are annualised
  1 Month
%		 3 Month
%		 6 Month
%		 1 Year
% p.a.		 2 Year
% p.a.		 3 Year
% p.a.		 5 Year
% p.a.		 10 Year
% p.a.
Total Return 3.85 3.72 21.09 34.01 10.13 4.31 0.32 2.39
Growth Return 3.85 3.72 - - 5.07 0.92 -3.35 -1.49
Income Return 0.00 0.00 - - 5.06 3.39 3.67 3.88
Morningstar Index
(Mstar PG ITr Equity World Large Bld Idx)  
Total Return 3.10 5.13 14.11 15.06 6.69 4.55 -0.99 2.49
Market Index
(MSCI World Ex Australia NR AUD)
Total Return 3.54 6.15 14.38 16.70 8.30 5.62 -0.28 2.75


Asset Allocation (as at 31st Jan 2013)  
Domestic Shares 0.22%
International Shares 99.78%
Cash 0%
Listed Property 0%
Direct Property 0%
Domestic Fixed Interest 0%
International Fixed Interest 0%
Mortgage 0%
Other 0%
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Objectives and Strategy
Fund Objective To provide positive investment returns over a 3 to 5 year investment horizon by investing in a concentrated portfolio of undervalued global equities. The goal of the Fund is not to replicate the standard industry benchmarks such as the MSCI. It is likely that the Fund will have varied outcomes to that of a traditional index benchmarked fund. Tax and currency exposures are considered important in daily management.
Fund Strategy Typically the Fund will hold between 35 & 45 globally listed equities. The Fund will not purchase any individual position greater than 10% of the portfolio at cost. Leverage may be used up to a maximum of 20% of the net asset value of the Fund. Leverage is used on an opportunistic basis. The primary use of derivatives and short selling is used to reduce implied market risk in situations where the Manager believes certain stocks are overvalued. If the Fund cannot find attractive equity investments it will let the cash levels build up.

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Offer Information
Entry Fee via InvestSMART 0%
Indirect Cost Ratio (ICR) 1.9% (as at 30th Jun 2012)
Minimum Initial Investment $20,000
Minimum Additional Investments $10,000
Minimum Redemption Amount $1

Top 10 Holdings (as at 31st Mar 2013)
Holding Type % of Portfolio
Bank of America Corporation Equity 9.08
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MorningstarThe data is provided by Morningstar. For further information on managed funds, including Research Reports, please visit www.morningstar.com.au

© Copyright Morningstar Australasia Pty Ltd 2009 ABN 95 090 665 544 (Morningstar), AFSL 240892. (a subsidiary of Morningstar, Inc.). This information is to be used for personal, non-commercial purposes only. No reproduction is permitted without the prior written content of Morningstar. Some of the material provided is published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO").

Further managed funds data is provided by Standard & Poor's Information Services and is subject to the following disclaimers.

* Dates for historical returns vary from fund to fund



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