Milford Australian Absolute Growth Fund receives 'recommended' rating

Rating house Zenith Investment Partners, has rated the Milford Australian Absolute Growth Fund 'recommended' in its first review of the product.

The fund is benchmark unaware and invests in a diversified portfolio of Australian equities, but can also invest in global equities, fixed income, cash and derivatives.

"Unlike a traditional long-only Australian equities fund, Milford employs a long/short investment strategy that provides it with greater flexibility to meet the fund's investment objective and add value for investors over the long term," Zenith noted in its review.

"Zenith believes Milford's investment process that emphasises capital preservation, is differentiated from peers".

Zenith says the fund is most appropriate for investors who have a lower tolerance for equity risk.