Lonsec said it had reinstated the rating on the HFA ISF, which had been on fund watch since 20 January, because “corporate uncertainty surrounding parent company HFA Holdings has now been largely mitigated”.
In a research bulletin, Lonsec said it had high conviction in the personnel of HFA Holding’s parent company, Lighthouse Partners (LHP).
“Lonsec considers LHP to be a high-quality hedge-fund-of-funds manager with a number of strengths and competitive advantages,” it said.
Lonsec’s decision to reinstate the HFA ISF comes as the fund continues to significantly outperform the MSCI World ex-Australia Index for all periods since inception.
In the three months to February 28, the HFA ISF achieved a positive return of 0.36 per cent, while the MSCI World ex-Australia Gross Index (US$) returned -15.46 per cent.
For the year to February 28, the fund achieved a return of -2.52 per cent, while the MSCI World ex-Australia Gross Index (US$) returned -46.48 per cent, outperforming the index by 43.96 per cent and since inception (April 2001) the fund has outperformed the MSCI ex Aust Gross index by 69.53 per cent.
