Tribeca Global Natural Resources Fund

Investment Aim

The aim of the Tribeca Global Natural Resources Fund (the ‘Fund’) is to consistently outperform the Bloomberg AusBond Bank Bill Index over the long term by investing in globally listed natural resources companies (long and short).

Why Global Resources Long/Short?

The main benefits of a Global Long/Short strategy are:

  • Increases portfolio diversification by limiting exposure to market-related risks through expanding the investment universe
  • The ability to capture extra alpha on the short side
  • The ability to target higher returns without concentration or style bias
  • Capture attractive alpha opportunities arising from volatility in natural resources

Key Features

  • Targeted outperformance of 10% p.a. over a five year investment horizon
  • Net position of the fund will not exceed -100% to +100% range and Gross position will not exceed 200%
  • Targeted number of stocks is 20-60 globally with no regional allocation limits
  • Pre-production and illiquid companies (defined by <US$10m average daily volume) will not exceed 15% of the portfolio
  • The Fund has outperformed the benchmark since inception

Investment Team

The Fund is co-managed by Ben Cleary, who has extensive experience in the natural resources sector spanning 14+ years and Craig Evans with over 20 years of investment and financial markets experience. They are advised by a specialist advisory board and supported by a team of experienced investment analysts with an average of 16 years investment experience and six years at Tribeca.

Investment Style

Investment process seeks to benefit from the inherent volatility in the natural resources sector by using a combination of top down macro analysis and bottom up stock selection to find long and short investment ideas.

Commodities are ranked from least to most favoured using a combination of demand and supply modelling, cash cost and incentive price curves, inventory and trade data, and quantitative checks.

Tribeca’s significant quantitative screening skills are used to identify both long and short investment candidates within the natural resources sector globally.

Fundamental research including company modelling and valuation is undertaken in accordance with underlying commodity ranking before final investment decisions are made.

Current Investors

For investors in the Australian trust, to access investor statements please click here.

For investors in the Cayman fund, to access investor statements please click here.