Swita International Equity - Managed Fund (Closed)

Fund Objective

The Fund aims to achieve positive returns in excess of the Benchmark over the long term by taking both Long Positions on listed international equities and Hedging the portfolio against market risk in certain situations using Short Positions in equity index futures.

Fund Strategy

The Fund aims to invest in a portfolio of Equities that are listed, or expected to be listed within 90 days. The Fund may have between 0% and 125% of its Net Asset Value invested in Long Positions. The Fund may have between 0% and 125% of its Net Asset Value invested in Short Index Futures, short individual stocks/ baskets of stocks or options. The Fund's net exposure to Equities will range between 0% and 125% of its Net Asset Value. The Fund aims to hold no more than 20% of its Net Asset Value in Cash.

Fund Performance Comparison

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Peers

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The performance of the peers is calculated as the total of the performance for each time period for all the funds in the peer group, divided by the number of funds in the peer group.

Fees Comparison

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NOTE: Fee data has been provided by Morningstar, it may not include all costs being charged on your investment such as platform and adviser fees. You should check your fund manager or adviser statements to find out the exact fees you are being charged. Peers are funds that use the same benchmark in the Morningstar database.

Fund performance

	1M	3M	6M	1Y p.a.	2Y p.a.	3Y p.a.	5Y p.a.	10Y p.a.
Total return	-6.58%	-16.25%	-14.15%	-9.24%	-%	-%	-%	-%
Growth return	-6.58%	-16.25%	-14.15%	-18.1%	-%	-%	-%	-%
Income return	0%	0%	0%	8.86%	-%	-%	-%	-%
Market index (RBA Bank accepted Bills 90 Days)
Total return	0.35%	1%	1.93%	3.79%	4.06%	4.13%	3.03%	2.16%

As at 31 May 2011. Returns for periods greater than 1 year are annualised. All figures are percentages.

Asset Allocation

Swita International Equity

International Equities: 83.22%

Cash: 16.78%

Australian Equities: 0%

Property & Infrastructure: 0%

Fixed Interest: 0%

Alternatives: 0%

Average Allocation of Peers

International Equities: 2.78%

Cash: 55.81%

Australian Equities: 4.80%

Property & Infrastructure: 1.92%

Fixed Interest: 15.47%

Alternatives: 19.22%

General Information

Fund Details

Type	Description
Fund Name	Swita International Equity
Fund Status	Closed
Responsible Entity	Swita Investment Management Pty Ltd
APIR Code	ETL0185AU
Sector/Asset Class	Alternative - Other
Morningstar Rating	Not Rated
Legal Structure	Investment Fund
Fund Inception	1 Dec 2009
Fund Size	$2.5 million (as at 31 Dec 2010)
Entry Price	$0.85222 (as at 31 May 2011)
Exit Price	$0.84713 (as at 31 May 2011)
Fund Status	Finalised

Offer information

Type	Description
Indirect Cost Ratio (ICR) - Estimated	1.90% (as at 30 Jun 2010) (Estimated)
Minimum initial investment	$25,000
Minimum additional investments	$10,000.00
Minimum redemption amount	$10,000.00

Top 10 holdings (as at 30 Sep 2010)

Holding (as at 30 Sep 2010)	Type	% of Portfolio
Las Vegas Sands Inc.	Stock	4.13%
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FAQs about the Swita International Equity

What is the objective of the Swita International Equity managed fund?

The objective of the Swita International Equity managed fund is The Fund aims to achieve positive returns in excess of the Benchmark over the long term by taking both Long Positions on listed international equities and Hedging the portfolio against market risk in certain situations using Short Positions in equity index futures.

What is the strategy for the Swita International Equity managed fund?

The strategy of the Swita International Equity managed fund is The Fund aims to invest in a portfolio of Equities that are listed, or expected to be listed within 90 days. The Fund may have between 0% and 125% of its Net Asset Value invested in Long Positions. The Fund may have between 0% and 125% of its Net Asset Value invested in Short Index Futures, short individual stocks/ baskets of stocks or options. The Fund's net exposure to Equities will range between 0% and 125% of its Net Asset Value. The Fund aims to hold no more than 20% of its Net Asset Value in Cash.

What is the APIR code of the Swita International Equity managed fund?

The APIR code of the Swita International Equity managed fund is ETL0185AU.

What was Swita International Equity’s total return last month?

Swita International Equity’s total return last month was -6.58%. This was made up of a growth return of -6.58% and an income return of 0%. These returns were calculated as at 31 May 2011.

What was Swita International Equity’s total return for the last three months?

Swita International Equity’s total return for the last three months was -16.25%. This was made up of a growth return of -16.25% and an income return of 0%%. These returns were calculated as at 31 May 2011.

What is Swita International Equity’s one-year total return?

Swita International Equity’s one-year total return is -9.24%. This was made up of a growth return of -18.1% and an income return of 8.86%. These returns were calculated as at 31 May 2011.

What is Swita International Equity’s three-year total return?

Swita International Equity’s one-year total return is -%. This was made up of a growth return of -% and an income return of -%. These returns were calculated as at 31 May 2011.

What is the asset allocation of the Swita International Equity managed fund?

The asset allocation of the Swita International Equity managed fund is :

International Equities: 83.22%

Cash: 16.78%

Australian Equities: 0%

Property & Infrastructure: 0%

Fixed Interest: 0%

Alternatives: 0%

Who is the responsible Entity of the Swita International Equity managed fund?

The Responsible Entity for the Swita International Equity managed fund is Swita Investment Management Pty Ltd.

What sector/asset class does the Swita International Equity managed fund belong to?

The Swita International Equity managed fund belongs to the Alternative - Other sector/asset class.

What is the size of the Swita International Equity managed fund?

As at 31 Dec 2010, the size of the Swita International Equity managed fund was $2.5 million.

What is the inception date of the Swita International Equity managed fund?

The Swita International Equity managed fund has an inception date of 1 Dec 2009.

What is the current entry price of the Swita International Equity managed fund?

The current entry price of the Swita International Equity managed fund is $0.85222 per unit and the current exit price is $0.84713 per unit (as at 31 May 2011).

What is the current exit price of the Swita International Equity managed fund?

The current exit price of the Swita International Equity managed fund is $0.84713 per unit and the current entry price is $0.85222 per unit (as at 31 May 2011).

What is the minimum investment amount for the Swita International Equity managed fund?

The minimum initial investment amount for the Swita International Equity managed fund is $25,000. Minimum additional investment is $10000.

Fund data sourced from Morningstar. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). Data and content is provided for personal use only. Whilst every care has been taken in producing these numbers, neither Morningstar nor InvestSMART can make any guarantees around the complete accuracy of these figures. Should you decide to change investments, please read all relevant disclosure documents including the Product Disclosure Statements and if required, you may consider speaking to a financial professional for further guidance. A tax event may be realised as a result of switching investments. Past performance is not a reliable indicator of future performance.

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