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Rebate Offer
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4.0% (100%)
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Minimum Initial Investment
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$5,000
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Expected Close Date
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Ongoing
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| Product Disclosure Statement |  Download Product Disclosure Statement (PDS) |  Request Product Disclosure Statement (PDS) |
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Colonial First State provides investors with exposure to the Aspect Diversified Futures Fund. This Fund aims to capture price trends in rising and falling markets using a sophisticated quantitative approach.
Established by Aspect Capital, a company with a long track record of performance^ in managed futures, the Aspect Diversified Futures Fund invests in more than 100 global markets including equities, interest rates, currencies, energy, agricultural commodities and metals. Such a diversified portfolio have a low correlation to the returns of traditional asset classes over the long term, as seen from the table below.
Comparison of correlation between managed futures and other asset classes+
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All hedge funds
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Emerging markets |
Global shares
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Global bonds (AUD hedged)
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Listed property
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Australian shares
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Australian bonds
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| Managed Futures (AUD Hedged) |
0.21 |
-0.06 |
-0.28 |
0.19 |
-0.13 |
-0.07 |
0.23
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The diversification and the ability to benefit from market trends regardless of their direction may increase the risk adjusted returns of an investor's portfolio.
Key Features
- Access the expertise of the Aspect Capital team, whose Aspect Diversified Programme* has outperformed its benchmark** since inception in 1998.
- Investing in over 100 global markets across 23 exchanges.
- Available exclusively from Colonial First State.
Investment approach
Aspect's investment approach is driven by the belief that market behaviour can be statistically measurable and. They seek to exploit opportunities for profit using sophisticated quantitative research and disciplined approach. The manager seeks to control risk through position sizes, diversification across markets and asset classes, and hte use of long and short positions.
Aspect Capital
Aspect is one of the world's largest and most experienced managed futures managers in the world. Two of its original founders, Michael Adam and Martin Leuck are two of the three original founders of AHL Limited, the team behind Man Investment's longest running managed futures program AHL Diversified. After prioneering the scientific application of systematic techniques to investment management at AHL, Adam and Leuck formed Aspect Capital in 1997 with Anthony Todd and Eugene Lambert. The company currently manages USD3.8billion as at 1st May 2010.
| Fee Disclosure | | 2020 DIRECTNVEST will rebate 100% of the 4.0% entry fee on investments in the CFS Aspect Diversified Futures Fund as additional units. 2020 DIRECTINVEST may receive a trailing commission of up to 0.6% pa. This trailing commission is paid by the fund manager and is not an additional charge to the investor. |
| Download Product Disclosure Statement (PDS) | | Request Product Disclosure Statement (PDS) |
^Past performance is no indication of future performance.
+Comparisons from 31/12/1998- 31/03/2010. Sources: Aspect Capital, Morningstar, IRESS, RIMES, EPRA, UBS and Citigroup.. Managed futures: CISDM CTA Asset Weighted Index (hedged into AUD); Global shares: MSCI World Net (in AUD); Global bonds: Citigroup World Government Bond index (ex-Australia) (hedged into AUD); Australian shares: S&P / ASX 200 Accumulation Index; Australian bonds: UBS Australian Government Bond All Maturities (Total Return) Index; Listed property: FTSE EPRA /NAREIT Australia Index; Emerging Markets: MSCI Emerging Markets Index (in AUD); All hedge funds: CS/Tremont Hedge Funds Index (hedged into AUD).
* Aspect Diversified Futures Fund is a new and different fund and therefore has no performance history.
**Benchmark: CASAM CISDM CTA Asset Weighted Index (USD).
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