Global Equity Long Short

This strategy aims to deliver superior long-term returns by actively investing in undervalued companies and short-selling overvalued companies across global developed and emerging markets. The strategy generally maintains a long exposure of 130% and a short exposure of -30%.

INVESTMENT UNIVERSE

40,000+ stocks in developed and emerging markets (includes ex-index stocks to maximise the opportunity set).

RETURN FORECAST

Daily analysis at stock-specific, peer group, and macro level results in objective risk and return forecast

PORTFOLIO CONSTRUCTION & TRADING

Forecasts enter proprietary portfolio optimisation system, weighing expected return against risk, liquidity and T-costs

Investment philosophy

Financial assets are often mispriced due to behavioural errors, such as incorrectly processing information or acting on incomplete information.

Top-performing companies display many qualities. Their success is multi-faceted and cannot be attributed to any single factor.

Market inefficiencies and attractive opportunities are best captured using systematic processes.

Curated application of artificial intelligence (AI) and machine learning (ML) technology can help extract pertinent information from large, complex datasets.

Investment processes must be dynamic and adapt to changes in investor behaviour and the investment environment.

Acadian’s edge comes from embracing innovative ideas and continuously investing in people, technology, and data.

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Why global long short?

  • Long/short strategies can generate returns from both undervalued and overvalued companies, exposing investors to a broader set of investment opportunities compared to long-only strategies.
  • In volatile markets, losses on long positions can potentially be offset against gains in short positions.
  • As part of a diversified portfolio, long/short strategies can help optimise risk-adjusted returns.
  • A systematic approach is well-suited to long/short investing because systematic managers cover a broader number of companies and integrate risk controls into their portfolio construction process to maximise alpha and control risk.

As of March 2025

APIR CodeFSF0788AU
 Inception Date04 May 2006
 Management Cost0.92%
 Buy / Sell spread0.05%/0.05%
 Product Size $589 million
 Benchmark MSCI World Index
Colonial First State Investments Limited (“CFS”) is the responsible entity for this fund, ABN 98 002 348 352, AFS Licence 232468. You can find the target market determinations (TMD) for this fund at www.cfs.com.au/tmd, which include a description of who a financial product might suit. You should also read the relevant Product Disclosure Statement (PDS) and Financial Services Guide (FSG) carefully, assess whether the information is appropriate for you, and consider talking to a financial adviser before making an investment decision. You can get the PDS and FSG at www.cfs.com.au or by calling CFS on 13 13 36. All Fund (NAV) returns are calculated on an annualised basis using exit price to exit price with distributions reinvested, net of management costs, transaction costs. All return calculations exclude any individual taxes payable by the investor and all other fees and rebates disclosed in the relevant product disclosure statements available on our website or by calling us. The ‘distribution’ component is the amount paid by the way of distribution, which may include net realised capital gains. Portfolio holdings are subject to change and should not be considered a recommendation to buy or sell individual securities. Reference to the benchmark is for comparative purposes only and is not intended to indicate that the Fund will contain the same investments as the benchmark. Investors have the opportunity for losses as well as profits. Past performance is no guarantee of future results. Index Source: MSCI Copyright MSCI 2025. All Rights Reserved. Unpublished. PROPRIETARY TO MSCI.

March 2025

ColumnFund (Gross)Fund (NAV)BenchmarkValue-Added vs. Benchmark
One-Month Return-6.5-6.6-4.7-2.0
Three-Month Return-1.5-1.8-2.40.6
Year-to-Date Return-1.5-1.8-2.40.6
One Year Annualized Return6.24.912.1-7.2
Three Year Annualized Return24.122.514.58.1
Five Year Annualized Return26.424.815.79.1
Ten Year Annualized Return17.315.911.74.2
SINCE INCEPTION ANNUALIZED RETURN10.99.88.51.4
Colonial First State Investments Limited (“CFS”) is the responsible entity for this fund, ABN 98 002 348 352, AFS Licence 232468. You can find the target market determinations (TMD) for this fund at www.cfs.com.au/tmd, which include a description of who a financial product might suit. You should also read the relevant Product Disclosure Statement (PDS) and Financial Services Guide (FSG) carefully, assess whether the information is appropriate for you, and consider talking to a financial adviser before making an investment decision. You can get the PDS and FSG at www.cfs.com.au or by calling CFS on 13 13 36. All Fund (NAV) returns are calculated on an annualised basis using exit price to exit price with distributions reinvested, net of management costs, transaction costs. All return calculations exclude any individual taxes payable by the investor and all other fees and rebates disclosed in the relevant product disclosure statements available on our website or by calling us. The ‘distribution’ component is the amount paid by the way of distribution, which may include net realised capital gains. Portfolio holdings are subject to change and should not be considered a recommendation to buy or sell individual securities. Reference to the benchmark is for comparative purposes only and is not intended to indicate that the Fund will contain the same investments as the benchmark. Investors have the opportunity for losses as well as profits. Past performance is no guarantee of future results. Index Source: MSCI Copyright MSCI 2025. All Rights Reserved. Unpublished. PROPRIETARY TO MSCI.

Top Ten Holdings

As of March 2025

Column% of Portfolio
AMAZON.COM INC3.8
ALPHABET INC3.6
NVIDIA CORP3.5
APPLE INC3.5
META PLATFORMS INC3.3
ROCHE HOLDING AG2.5
BOOKING HOLDINGS INC2.5
NETFLIX INC2.4
EQUITABLE HOLDINGS INC2.3
SPOTIFY TECHNOLOGY SA2.2
NUMBER OF SECURITIES556
% OF PORTFOLIO FOR TOP 10 CURRENT HOLDINGS29.6

To view a full list of quarterly holdings in the Fund, visit Colonial First State.

 

Colonial First State Investments Limited (“CFS”) is the responsible entity for this fund, ABN 98 002 348 352, AFS Licence 232468. You can find the target market determinations (TMD) for this fund at www.cfs.com.au/tmd, which include a description of who a financial product might suit. You should also read the relevant Product Disclosure Statement (PDS) and Financial Services Guide (FSG) carefully, assess whether the information is appropriate for you, and consider talking to a financial adviser before making an investment decision. You can get the PDS and FSG at www.cfs.com.au or by calling CFS on 13 13 36. All Fund (NAV) returns are calculated on an annualised basis using exit price to exit price with distributions reinvested, net of management costs, transaction costs. All return calculations exclude any individual taxes payable by the investor and all other fees and rebates disclosed in the relevant product disclosure statements available on our website or by calling us. The ‘distribution’ component is the amount paid by the way of distribution, which may include net realised capital gains. Portfolio holdings are subject to change and should not be considered a recommendation to buy or sell individual securities. Reference to the benchmark is for comparative purposes only and is not intended to indicate that the Fund will contain the same investments as the benchmark. Investors have the opportunity for losses as well as profits. Past performance is no guarantee of future results. Index Source: MSCI Copyright MSCI 2025. All Rights Reserved. Unpublished. PROPRIETARY TO MSCI.

Current Positioning - Sector

Colonial First State Investments Limited (“CFS”) is the responsible entity for this fund, ABN 98 002 348 352, AFS Licence 232468. You can find the target market determinations (TMD) for this fund at www.cfs.com.au/tmd, which include a description of who a financial product might suit. You should also read the relevant Product Disclosure Statement (PDS) and Financial Services Guide (FSG) carefully, assess whether the information is appropriate for you, and consider talking to a financial adviser before making an investment decision. You can get the PDS and FSG at www.cfs.com.au or by calling CFS on 13 13 36. All Fund (NAV) returns are calculated on an annualised basis using exit price to exit price with distributions reinvested, net of management costs, transaction costs. All return calculations exclude any individual taxes payable by the investor and all other fees and rebates disclosed in the relevant product disclosure statements available on our website or by calling us. The ‘distribution’ component is the amount paid by the way of distribution, which may include net realised capital gains. Portfolio holdings are subject to change and should not be considered a recommendation to buy or sell individual securities. Reference to the benchmark is for comparative purposes only and is not intended to indicate that the Fund will contain the same investments as the benchmark. Investors have the opportunity for losses as well as profits. Past performance is no guarantee of future results. Index Source: MSCI Copyright MSCI 2025. All Rights Reserved. Unpublished. PROPRIETARY TO MSCI.

Platform Availability

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Fund Ratings & Awards

1 2
1The rating published on 03/2025 for (FSF1978AU) is issued by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445 (Lonsec Research). Ratings are general advice only and have been prepared without taking account of investors’ objectives, financial situation or needs. Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and Lonsec Research assumes no obligation to update. Lonsec Research uses objective criteria and receives a fee from the Fund Manager. Visit lonsec.com.au for ratings information and to access the full report. © 2025 Lonsec. All rights reserved.

 

2The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) (“Zenith”) rating (assigned FSF0788AU, 13 Nov 2024) referred to in this piece is limited to “General Advice” (s766B Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual, including target markets of financial products, where applicable, and is subject to change at any time without prior notice. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the Product Disclosure Statement (PDS) and Target Market Determination (TMD) document or other offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at Fund Research Regulatory Guidelines.

Awards

 

 

1 International Equities - Alternative Strategies

 

1 Zenith Investment Partners Pty Ltd ABN 27 103 132 672 AFSL 226872 Fund Awards issued 18 October 2024 are solely statements of opinion and not a recommendation in relation to making any investment decisions. Fund Awards are current for 12 months and subject to change at any time. Fund Awards for previous years are for historical purposes only. Full details on Zenith Fund Awards at https://www.zenithpartners.com.au/zenith-fund-awards-2024/

Acadian Asset Management (Australia) Limited (“Acadian Australia”) ABN 41 114 200 127 is the holder of Australian financial services license ("AFSL") number 291872. It is also registered as an investment adviser with the U.S. Securities and Exchange Commission ("SEC"). Under the terms of its AFSL, Acadian Australia is limited to providing the financial services under its license to wholesale clients only.
Acadian Australia is a wholly owned subsidiary of Acadian Asset Management LLC (“Acadian”), a U.S. registered investment adviser regulated by the U.S. SEC. Acadian is exempt from the requirement to hold an AFSL under the Corporations Act 2001 (Cth) ("Corporations Act"). Acadian is regulated by the SEC under United States of America laws, which differ from Australian laws. This website is intended only to provide a summary of the subject matter covered. It does not purport to be comprehensive or to provide legal, taxation or other advice on the subject matter. No reader should act on the basis of any matter contained in this website without first obtaining specific professional advice.
The information on this web page is provided to you because Acadian Australia reasonably believes that you are a "wholesale client" within the meaning of that term under the Corporations Act and not any other class of persons. This information is not an advertisement and is not intended to induce retail clients to invest in any product. Retail clients who are interested in products referenced on this website should contact their financial adviser.
In Australia ‘Colonial’, ‘Colonial First State’, and ‘CFS’ are trademarks of Colonial Holding Company Limited and all of these trademarks are used on this website with consent.