The equity curve shown above is a marked-to-market equity curve of the SPA3 Hedge Public Portfolio. The portfolio started on the 25 January 2001 with a $100,000 capital injection and has grown to $469,622 at the 31st May 2010.
The portfolio was audited by Deloitte for the 06/07 financial year. Click here to view the Deloitte report.

The equity curve above shows the daily value of the portfolio (blue line) compared to the daily value of the ALL-ORDS Index (grey line). The equity curve includes unrealised profits or losses at any given time and also includes dividends and interest earned during the life of the portfolio, when the portfolio was mainly in cash from following the SPA3 risk management rules.

The table shown below illustrates the performance as at 6th April 2010 of our publicly traded and audited SPA3 hEdge portfolio whereby all actions are traded in real time. The portfolio includes brokerage and slippage to simulate the trading of a real customer portfolio.

* The SPA3 hEdge Public Portfolio includes brokerage at online brokerage rates.
Full trade history for closed trades is available by clicking on the link below.
**The SPA3 hEdge rules have been used for hedging the portfolio during High Risk market periods over the life of the portfolio. The SPA3 hEdge closed trades can be viewed by clicking on the link below.
*** Maximum drawdown for the Publicly Audited Portfolio during the life of the portfolio to date is 21.01%.
The maximum drawdown for the ALL-ORDS Accumulation Index is 50.72% and the maximum drawdown for the ALL-ORDS is 53.99%.

Research shows that the average return of high and medium risk Managed Funds are similar to the ALL-ORDS Index.  Low risk equity Managed Funds and Super Managed Funds underperform the ALL-ORDS Index. That is why we have used the ALL-ORDS Index as a benchmark against which to measure SPA3 performance even though most investors’ performance, whether via Managed Funds or direct investment in the market, would be less than the performance of the ALL-ORDS.

SPA3 hEdge Public Portfolio Historical Trades
The historical trades shown in the downloadable spreadsheet exclude unrealised profit or loss at any given time in the life of the portfolio. They also exclude dividends and interest earned during High Risk periods when the portfolio was mainly in cash.
Click the link below to view the full history of trades and hedges from 25 January, 2001 to 31st May, 2010.