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High Growth Shares Fund Update - Short Selling Ban

Thu, 05 Mar 2009

On 5th March ASIC announced the temporary ban on covered short selling of financial securities has been extended until 31 May 2009. The ban was extended in light of continued volatility in global financial markets. The High Growth Shares Fund is a long-biased Australian equities fund, which may short up to a maximum of 25% of the portfolio. The fund has achieved strong excess returns despite the ban by employing a range of techniques including active trading and enhanced longs. During the six months to 28 February the fund exceeded its investment objective, outperforming its benchmark by 6%*. The fund is still able to short sell non-financial stocks not covered by the ban.