a bit more "The portfolio delivered a return of 1% for the...

a bit more

"The portfolio delivered a return of 1% for the month. While this may look uninspiring given the
strong market move, the Company has negligible net exposure to the share market, which makes
this a credible result. In fact it should be seen as a strong result in the context of the misfortune of
having two short positions bid for in February, with Japan Post bidding for Toll Holdings and Novion
Property Group merging with Federation Centres. In both cases we are convinced the short case
was sound."