K2 Global Equities Fund (Hedge Fund), (ASX code: KII), is an exchange traded managed fund (ETMF). With ASX listing, it provides investors with an easy option to add global diversification to their share portfolios. The Fund provides exposure to a long/short portfolio of global equities, however has historically had a long bias. An investment in KII is suitable for those investors seeking exposure to an actively managed portfolio of global equities with ASX liquidity. The fund has underperformed since listing but has a limited history having listed in July 2015. It is a mirror of the K2 Global High Alpha Fund, established in 2009, which provides a longer-term view of the performance of the investment strategy. This fund has significantly outperformed since establishment delivering a portfolio return of 19.6% p.a compared to the benchmark index (MSCI AC World Index $AUD) return of 10.4%p.a. The Independent Investment Research (IIR) initiation report provides more details of the fund including performance analysis and our investment rating for KII.