AFM Fund Profile — Laureola Australia Feeder Fund

Fund & Manager Details

Key Facts

Fund Type: Single Discretionary/Quantitative: Discretionary
Strategy: Life Settlements FUM (millions): US$57m
Style: N/A Fund Inception Date: Since 01 May 2013
Geographic Mandate: USA Latest Return Date: May 2022
Fund Domicile: Australia Investor Type: Wholesale
Status: Open Reporting Status: Current

Manager Details and Fund Description

Manager: Laureola Advisors Total FUM for all funds: US$70m
Manager Overview:
Laureola Advisors is specialist investment management firm offering conservative risk mitigated exposure to life settlements. The Laureola Advisors team has transacted over USD 1 billion in face value of life insurance policies.

Laureola Advisors was founded in 2012 by Tony Bremness to take advantage of the opportunities in the Life Settlements asset class. The Principals have invested their own capital in the fund.

Tony Bremness is a Partner, Managing Director, and portfolio manager at Laureola Advisors Inc. Mr Bremness is a frequent speaker at Alternative Investment Conferences, with a focus on Life Settlements. He graduated with an MBA (1985 McGill University, Canada) and has been awarded the CFA accreditation (1991).

Laureola Advisors, Inc. is a BVI Financial Services Commission approved investment manager, Approved Investment Manager number IBR/AIM/15/0124.
Fund/Strategy Overview:
The Laureola Investment Fund's strategy is to provide investors with exposure to the returns of life settlements in a risk mitigated manner.

Life Settlements are resold life insurance policies and can be thought of as a form of finance extended to an individual backed by the person's life insurance policy. This financing is repaid upon maturity by collecting the death benefit from the insurance company.

Risk mitigation measures implemented by Laureola include science-driven due diligence of policies, active monitoring of insured through a vertically integrated operation, and investor aligned fund design.

Investment Details

Investment Terms

Minimum Investment: Minimum Additional Investment: Minimum Term: Investment Frequency:
AU$100,000 US$25,000 Monthly
Regular Savings Option: Regular Savings Minimum Amount : Regular Savings Maximum Amount : Regular Savings Frequency :
No  
Redemption Notice: Redemption Frequency: Notes:
120 Days Monthly
3 year soft lock with redemption penalt...
Distributions: Distribution Frequency: Last Distribution Date: Last Distribution Amount:
No n/a n/a n/a

Structure

Offshore/Onshore: Fund Structure: Share Classes: Trustee/Responsible Entity:
Onshore Company AU$, US$ Emerging Manager Platform Ltd
Administrator: Prime Broker: Custodian: Legal:
Apex Fund Services N/A Bank of Utah Conyers Dill & Pearman, Morgan Lewis & Bockius LLPOne

Fund Fees

Management Fee: Performance Fee: High Water Mark: Hurdle:
2% 20% Yes 6% net realised
Buy Spread: Sell spread: Early Redemption Fee: Fees Notes:
% % Yes

Performance & Risk

Fund Inception Date: 01 May 2013 Annualised Return: 14.15%

Key Performance

Latest Result: Latest 3 Months: Latest 6 Months: Latest 12 Months:
-0.35% 0.58% -1.66% 2.74%
Latest 24 Months p.a.: Latest 36 Months p.a.: Latest 48 Months p.a.: Latest 60 Months p.a.:
5.13% 6.52% 4.71% 7.50%
% Positive Months (Since Inception): Average Return: Average +ve Return: Average -ve Return:
92.66% 1.12% 1.29% -1.33%
Best Month: Worst Month: Up Capture Ratio (Since Inception): Down Capture Ratio (Since Inception):
7.30% -4.90% 159.98% -188.65%
Largest Drawdown (Since Inception): Longest Drawdown (Since Inception): Current Drawdown (%): Current Drawdown (Months):
-4.90% 10 months -1.82% 5 months

Risk

Annualised Standard Deviation (Since Inception): Downside Deviation (Since Inception): Sortino Ratio (Since Inception): -
5.44% 1.85% 6.44 -
Sharpe Ratio (12 months): Sharpe Ratio (36 Months): Sharpe Ratio (60 Months): Sharpe Ratio (Since Inception):
0.77 2.31 1.78 2.25
Please note, Sharpe and Sortino ratios are calculated using the Australian Risk Free Rate

Ranking, Research & Availability

Fund quintile in it's Peer group (Alternatives).

AFM's Quintile Rankings show performance and Key Performance Indicators (KPI's) of Laureola Australia Feeder Fund compared to a peer group of funds with a similar strategy and geographic mandate. Each green square places a fund in one quintile (or 20%) of its peer group - five indicating that the fund is in the top (best) quintile for the corresponding KPI.

As a reference point the equivalent "quintile" performance of the peer group's underlying market index is also indicated by the red dot.

1 Year
3 Year
5 Year
7 Year
Laureola Australia Feeder Fund
Barclay Hedge Global Macro Index

External Research and Ratings: As reported by each Fund Manager.

No external fund ratings provided

Availability:As reported by each Fund Manager.

Available on Investment Platforms:
OLIVIA123

News & Insights

Rate Hike Volatility: Winter Comes in June for Crypto
08 Jul 2022 - Laureola Advisors
The S&P 500 was flat in May but at the time of writing is down 5.8% in June and -22.9% ytd. Most financial assets are down negative double digits ytd: Nasdaq -31%, 10-year US Treasuries -15%, and Bitcoin -56%.
Read more...
Investment environment snapshot
29 Jun 2022 - Laureola Advisors
The S&P declined 8.8% in April and by late May was down over 12% ytd. The Nasdaq was down 22% ytd. and Bitcoin down 38% ytd. The 10 yr Treasury finished at 2.9%; the yield has doubled in 18 mos.
Read more...
Performance Report: Laureola Australia Feeder Fund
24 Jun 2022 - FundMonitors.com
The Laureola Master Fund returned -0.35% in May, an outperformance of +0.54% compared with the Bloomberg AusBond Composite 0+ Yr Index which fell by -0.89%. The fund has outperformed the index since inception in May 2013, providing...
Read more...

Fund Documents

Manager's Report

Product disclosure/IM



Fund Performance

Historical Performance (all figures shown here are net of fees unless otherwise stated)

Year Jan % Feb % Mar % Apr % May % Jun % Jul % Aug % Sep % Oct % Nov % Dec % YTD %
2022 -0.06 -2.33 0.96 -0.02 -0.35 N/R N/R N/R N/R N/R N/R N/R -1.82
2021 0.01 0.43 0.09 0.37 0.43 0.41 0.42 2.12 0.09 1.03 0.34 0.16 6.04
2020 0.80 0.30 0.35 0.43 1.30 0.69 2.22 1.29 0.39 0.34 0.15 0.93 9.57
2019 0.50 0.70 0.20 0.20 0.20 0.50 0.70 1.60 0.00 1.40 0.40 1.20 7.85
2018 0.70 1.80 2.60 1.60 2.00 1.00 0.80 0.30 0.30 0.00 0.30 -4.90 6.48
2017 0.20 0.30 0.50 1.00 1.20 0.30 0.90 0.80 1.00 2.00 2.00 2.20 13.10
2016 0.20 0.40 0.70 3.00 1.60 1.40 0.10 0.10 0.50 1.10 1.00 4.00 14.96
2015 -0.30 6.00 0.20 0.10 0.50 2.50 5.90 0.40 0.80 1.30 7.30 3.70 31.91
2014 0.40 1.10 1.70 1.70 1.00 0.90 0.70 2.40 0.80 5.80 0.60 0.20 18.60
2013 N/R N/R N/R N/R 1.90 6.00 3.00 0.60 3.90 1.90 1.90 3.40 24.85

Historical Financial Year Performance (all figures shown here are are percentage per month net of fees unless otherwise stated)

Year Jul % Aug % Sep % Oct % Nov % Dec % Jan % Feb % Mar % Apr % May % Jun % FYTD %
2021/2022 0.42 2.12 0.09 1.03 0.34 0.16 -0.06 -2.33 0.96 -0.02 -0.35 N/A 2.32
2020/2021 2.22 1.29 0.39 0.34 0.15 0.93 0.01 0.43 0.09 0.37 0.43 0.41 7.28
2019/2020 0.70 1.60 0.00 1.40 0.40 1.20 0.80 0.30 0.35 0.43 1.30 0.69 9.55
2018/2019 0.80 0.30 0.30 0.00 0.30 -4.90 0.50 0.70 0.20 0.20 0.20 0.50 -1.03
2017/2018 0.90 0.80 1.00 2.00 2.00 2.20 0.70 1.80 2.60 1.60 2.00 1.00 20.24
2016/2017 0.10 0.10 0.50 1.10 1.00 4.00 0.20 0.30 0.50 1.00 1.20 0.30 10.73
2015/2016 5.90 0.40 0.80 1.30 7.30 3.70 0.20 0.40 0.70 3.00 1.60 1.40 29.86
2014/2015 0.70 2.40 0.80 5.80 0.60 0.20 -0.30 6.00 0.20 0.10 0.50 2.50 21.04
2013/2014 3.00 0.60 3.90 1.90 1.90 3.40 0.40 1.10 1.70 1.70 1.00 0.90 23.67
2012/2013 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 1.90 6.00 8.01

General Notes

The Laureola Australia Feeder Fund is the localised feeder fund to the Laureola Investment Master Fund and is the AUD hedged class.

Returns shown above are for the Master fund. For the AUD hedged feeder fund's returns, please refer to the latest report