Data Collected on a Monthly basis by the IIR Research team on the whole sector. ratings are applied to those Managers who participate in LIC/LIT/ETF Research Scheme and ratings are applied to those managers who participate in the IIR LIC/LIT/ETF Research and these ratings are subject to continuous coverage on a monthly basis.

This research study is prepared on the basis of data collected by the IIR Research Team from both the managers and ASX.

LIC/LIT/ETF Review - Spotlight on Gryphon Capital Limited. The publication is based upon the data collected by the IIR Research Team

Monthly Review of all Listed Managed Funds - Data is collected by the IIR Research Team

The Fund’s strategy is based on benchmark unaware, market cap agnostic, absolute value, long-short Australian equities strategy. The absolute returns aspect is based on discretionary rotation in and out of cash, which historically has been as high as 40% of the total portfolio