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Generate returns across the natural resources cycle through a global long-short strategy.

• Aims to provide positive absolute investment returns over the long run by employing a long/short approach to global natural resources equity markets in order to generate positive returns in both rising and falling commodity markets.
• Primary exposure to Global resources and energy companies.

The Ausbil Global Resources Fund (Fund) provides active exposure to long and short positions in companies: access to an actively managed portfolio of long and short positions in global natural resources.

The Fund utilises both top down commodity and macro analysis, combined with bottom up stock analysis and a disciplined risk management process, with the aim of producing consistent and risk-controlled outperformance through the economic cycle.

The strategy aims to capitalise on the volatility within the natural resources sector by employing a long/short approach to global natural resources equity markets with a focus on generating positive returns in both rising and falling commodity markets.

Ausbil seeks to achieve this by investing in high quality natural resources companies and associated industries, which are expected to have sustainable earnings and free cash flows, and to short sell securities which have declining earnings/cashflow or commodity specific headwinds. 

Short selling is also used by the Fund to manage risk and market or commodity exposures. Moreover, the strategy also invests in a portfolio that seeks to preserve capital for investors.

Ausbil employs a ‘core/style indifferent’ investment approach based on the belief that earnings, and earnings revisions, are the fundamental drivers of stock prices. We seek to identify earnings changes and trends ahead of the market in our valuation process. 

Ausbil’s active investment approach aims to exploit inefficiencies across the market, across the cycle, and in all market conditions to produce consistent and risk-controlled outperformance. Our investment process applies qualitative and quantitative analysis tools, and disciplined risk management.

We take a four-stage fundamental approach to analysing these opportunities, including: macroeconomic assessment; regional and sector analysis; stock selection on fundamental analysis incorporating ESG; and risk-optimised portfolio construction.

Ausbil includes an assessment of environmental, social and governance factors in its investment process. It does not have a predetermined view on these factors. Instead Ausbil considers these factors, as it becomes aware of them in their investment decisions.

Ausbil was established in April 1997 and manages Australian and international securities for major superannuation funds, institutional investors, master trust and retail clients as well as being the responsible entity of several registered managed investment schemes. Ausbil is owned by its employees and indirectly by New York Life Investment Management Holdings LLC (New York Life Investments), a wholly owned subsidiary of New York Life Insurance Company.

New York Life Investments, through its multi-boutique investment structure, has a number of boutique affiliates including MacKay Shields, Candriam Investors Group, PA Capital and GoldPoint Partners.

Ausbil Global Resources Fund (AXW10)
The Fund provides exposure to an actively managed portfolio, predominantly of globally listed natural resources equities. The fund deploys long strategies, short-selling and derivatives strategies to implement its portfolio of investment ideas.

The Fund aims to provide positive absolute investment returns over the long run by employing a long/short approach to global natural resources equity markets in order to generate positive returns in both rising and falling commodity markets.

Access the PDS here.
Read the latest performance update here. 

Disclaimer

Unless otherwise specified, any information contained in this publication is current as at the date of this report and is prepared by Ausbil Investment Management Limited (ABN 26 076 316 473 AFSL 229722) (Ausbil). Ausbil is the issuer of the Ausbil Global Resources Fund (ARSN 623 619 590) (Fund). This report contains general information only and the information provided is factual only and does not constitute financial product advice. It does not take account of your individual objectives, financial situation or needs. Before acting on it, you should seek independent financial and tax advice about its appropriateness to your
objectives, financial situation and needs. Securities and sectors mentioned in this monthly report are presented to illustrate companies and sectors in which the Fund has invested and should not be considered a recommendation to purchase, sell or hold any particular security. Holdings are subject to change daily. The value of an investment and the income from it can fall as well as rise and you may not get back the amount originally invested. Past performance is not a reliable indicator of future performance. Unless otherwise stated, performance figures are calculated net of fees and assume distributions are reinvested. Due to rounding the figures in the holdings, breakdowns may not add up to 100%. No guarantee or warranty is made as to the accuracy, adequacy or reliability of any statements, estimates, opinions or other information contained herein (any of which may change without notice) and should not be relied upon as a representation express or implied as to any future or current matter. You should consider the Product Disclosure Statement which is available at www.ausbil.com.au before acquiring or investing in the fund.