I tend to agree with your sentiments. whilst Bennelong Long...

I tend to agree with your sentiments.
whilst Bennelong Long short fund have been an excellent long term performer, they have
been absolutely dismal since ASX listing, with NTA now down at 97 cents and it baffles me that the
market still has share price trading at 5% premium to NTA.
Yes I know people will say it is about long term investing, BUT the point of these long short or market neutral funds is they are supposed to outperform when markets are struggling or going down,
and yet all of my long only funds have outperformed AEG during a market that is at virtually the same level as where it was 12 months ago.....
so much for market neutral fund....
Whereas : Watermark Market neutral fund and Henderson Absolute return equity fund ( same strategy as AEG, ie long short pairs, but unlisted fund ) have both delivered me returns in the order of 7 - 8 % for the past 12 months and I'll stick with those.
I'm also taking a look at the new Watermark Global market neutral fund.
I won't look at buying AEG unless trading at a discount to NTA, as underperforming funds deserve to be.