Ellerston Global Macro Fund

Investing with a macro view, will take advantage of themes that do not rely upon positive market performance. The investment style has a return profile that is negatively correlated to traditional asset classes with a strong focus on capital preservation.

  • Capital preservation by limiting exposure to risk where appropriate.
  • Lower volatility than equity markets with an absolute return performance objective.
  • Provide returns independent of traditional asset class returns.

A Global Macro fund with an unconstrained, absolute approach.

At a Glance

The Ellerston Global Macro Fund is an absolute, unconstrained strategy investing in a number of fundamentally derived core themes, optimised via trade expression and portfolio construction across fixed income, foreign exchange, equity and commodities. It focuses on capital preservation while providing low to negative correlation to traditional asset classes.

The Global Macro Fund is a discretionary medium term macro strategy which is managed by an experienced team of global macroeconomic and investment specialists who have been forecasting global macro trends for over 20 years.

We believe that all asset classes are anchored by the global macro-economic environment. That being said, interest rates, currencies and equity indices are ultimately determined by economic growth, inflation and the central bank reaction to such factors. We also believe that asset markets frequently deviate from these anchors, either by over reacting to short term events or crisis concerns, or by not forecasting the macro environment correctly. We aim to exploit these deviations to achieve optimal risk/return outcomes. The fund aims to provide an annualised 5% net return above the RBA cash rate over rolling 3 year periods, with a volatility target of 6% per annum.

Ellerston Capital Limited ABN 34 110 397 674 AFSL 283000 is the responsible entity and issuer of units in the Ellerston Global Macro Fund ARSN 617 222 741. Any information is general and does not take into account your personal objectives, financial situation or needs. Accordingly you should consider the Product Disclosure Statement before deciding whether to acquire or continue to hold units in the Fund available from this website or by contacting us on 02 9021 7797.

Research Ratings:

Meet the Global Macro Team

Staff Members

Brett Gillespie

Head of Global Macro

Tim Toohey

Chief Economist

Robert Chiu

Portfolio Manager

Howard Chang

Investment Analyst