| Fund Type: | Single | Discretionary/Quantitative: |
Discretionary |
| Strategy: | Equity Long | FUM (millions): | AU$161.7m |
| Style: | Value | Fund Inception Date: | Since 30 October 2009 |
| Geographic Mandate: | Australia | Latest Return Date: | March 2024 |
| Fund Domicile: | Australia | Investor Type: | Retail |
| Status: | Open | Reporting Status: | Pending |
| Manager: | Forager Funds | Total FUM for all funds: | AU$496.3m |
|
Manager Overview:
Forager Funds Management was launched by Steven Johnson in 2009 as Intelligent Investor Funds Management, as part of the Intelligent Investor group which provided value investing advice to retail investors through a subscription based publishing business for the previous 10 years.
In 2014 the Intelligent Investor publication was sold to new management, and the investment manager was renamed Forager Funds Management. The investment manager has grown and has six investment staff across both the Australian fund (which is listed on the ASX) and the Global fund. Steven Johnson, Forager's Chief Investment Officer has been a director and shareholder of Forager since inception and was previously a director and shareholder of Intelligent Investor. Prior to that he worked at Macquarie Group and UBS. Steven has a Bachelor of Economics (Econometrics and Finance) from the University of New South Wales and is a CFA charter holder. His experience is focused on value investing, and includes writing research and providing investment recommendations for Intelligent Investor, and as Chief Investment Officer of Forager Funds Management since inception. |
Fund/Strategy Overview:
The Fund is permitted to invest in any ASX-listed security and hold unlisted securities (up to 10%) and as much cash as is deemed appropriate.
The aim to maximise the Fund's expected return whilst taking calculated risks. There is a focus on avoiding permanent capital losses although accept that there are risks of investing in deep value stocks when undertaking research. The Fund is a concentrated portfolio of 20-30 stocks and is structured as an LIT. |
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| Other funds operated by manager: | |||
| Forager International Shares Fund | |||
| Minimum Investment: | Minimum Additional Investment: | Minimum Term: | Investment Frequency: |
| AU$20,000 | AU$1,000 | 1 | Weekly |
| Regular Savings Option: | Regular Savings Min. Amount : |
Regular Savings Max. Amount : |
Regular Savings Freq.: |
| No | |||
| Redemption Notice: | Redemption Frequency: | Notes: | |
| Weekly |
|||
| Distributions: | Distribution Frequency: | Last Distribution Date: | Last Distribution Amount: |
| Yes | Annually | 30 June 2014 | AU$0.08487 |
| Offshore/Onshore: | Fund Structure: | Share Classes: |
Trustee/Responsible Entity: |
| Onshore | LIC | AU$ | The Trust Company (RE Services) |
| Administrator: | Prime Broker: | Custodian: | Legal: |
| White Outsourcing | N/A | White Outsourcing | MinterEllison |
| Management Fee: |
Performance Fee: |
High Water Mark: |
Hurdle: |
| 1% | 10% | Yes | 8% per annum before the deduction of any fees, costs, expenses or taxes |
| Buy Spread: | Sell spread: | Early Redemption Fee: | Fees Notes: |
| 0.250% | 0.250% | No |
| Latest Return Date: | Latest Result: | Fund Inception Date: | Annualised Return: |
| March 2024 | 1.59% | 30 October 2009 | 9.51% |
| Latest 3 Months: | Latest 6 Months: | Latest 12 Months: | Latest 2 Years p.a.: |
| 4.96% | 10.20% | 19.75% | -0.10% |
| Latest 3 Years p.a.: |
Latest 4 Years p.a.: |
Latest 5 Years p.a.: |
Latest 7 Years p.a.: |
| 4.13% | 26.36% | 6.74% | 4.08% |
| % Positive Months (S.I.): |
Average Return: | Average +ve Return: | Average -ve Return: |
| 58.38% | 0.94% | 4.11% | -3.51% |
| Best Month: | Worst Month: | Up Capture Ratio (S.I.): |
Down Capture Ratio (S.I.): |
| 20.57% | -39.71% | 72.98% | 91.36% |
| Largest Drawdown (S.I.): |
Longest Drawdown (S.I.): |
Current Drawdown (%): |
Current Drawdown (Months): |
| -54.17% | 35 months | -12.20% | 27 months |
| Annualised Standard Deviation (S.I.): |
Downside Deviation (S.I.): |
Sortino Ratio (S.I.): |
- |
| 20.14% | 13.84% | 0.49 | - |
| Sharpe Ratio (12 months): |
Sharpe Ratio (3 years): |
Sharpe Ratio (5 years): |
Sharpe Ratio (S.I.): |
| 1.27 | 0.20 | 0.34 | 0.45 |
| Please note, Sharpe and Sortino ratios are calculated using the Australian Risk Free Rate | |||
AFM's Quintile Rankings show performance and Key Performance Indicators (KPI's) of Forager Australian Shares Fund (ASX: FOR) 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.
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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | -1.07 | 4.43 | 1.59 | N/R | N/R | N/R | N/R | N/R | N/R | N/R | N/R | N/R | 4.96 |
| 2023 | 5.95 | -4.62 | -3.85 | 2.61 | 0.34 | 0.34 | 4.18 | 1.51 | -0.54 | -6.45 | 4.76 | 7.14 | 10.86 |
| 2022 | -7.55 | -7.48 | 2.86 | -7.29 | -9.60 | -12.30 | 12.28 | 1.67 | -6.53 | 7.58 | 5.75 | -3.87 | -24.54 |
| 2021 | -3.05 | 4.07 | 1.21 | 13.23 | 0.26 | 1.62 | 5.01 | 2.58 | 0.45 | 1.57 | -1.35 | 2.81 | 31.31 |
| 2020 | 2.46 | -10.97 | -39.71 | 20.57 | 18.04 | -2.16 | 3.70 | 18.80 | 2.00 | 7.79 | 13.22 | 3.56 | 21.62 |
| 2019 | 0.98 | 4.46 | -0.95 | -2.02 | -3.97 | -1.46 | 6.67 | -1.09 | 4.38 | 1.54 | -3.22 | -1.50 | 3.27 |
| 2018 | -0.57 | -3.18 | -2.64 | 2.77 | -0.97 | 1.91 | -0.52 | -1.90 | -2.19 | -6.16 | -3.78 | -3.68 | -19.30 |
| 2017 | 7.20 | 1.29 | 1.60 | 1.16 | 1.16 | 1.00 | 2.32 | -0.95 | 2.69 | 0.95 | 0.21 | 4.06 | 24.92 |
| 2016 | -1.33 | 2.70 | 4.40 | 2.48 | 1.51 | -3.92 | 6.99 | 3.25 | 4.50 | -1.99 | -4.65 | 1.76 | 16.08 |
| 2015 | 0.94 | 3.38 | 4.87 | -2.42 | 3.13 | -2.34 | 7.94 | -4.46 | -1.38 | 12.87 | -2.97 | 0.22 | 20.06 |
| 2014 | 1.05 | 0.48 | -1.28 | -3.44 | 1.28 | -0.15 | 6.70 | 2.56 | -1.23 | -2.06 | -0.21 | -1.15 | 2.21 |
| 2013 | 5.83 | 4.86 | 4.51 | 1.41 | 2.65 | -0.69 | 10.45 | 1.13 | 4.77 | 2.50 | -0.11 | 0.38 | 44.21 |
| 2012 | 1.53 | 8.90 | 5.02 | 2.17 | -0.51 | -2.64 | 8.70 | 0.44 | 2.83 | -3.07 | 4.57 | 0.33 | 31.20 |
| 2011 | 1.58 | 0.47 | -1.49 | 3.40 | -5.39 | -0.83 | -1.00 | -2.61 | -7.20 | 9.89 | -0.02 | -4.62 | -8.55 |
| 2010 | -1.66 | 0.08 | -0.34 | 4.60 | -4.27 | -4.40 | 4.97 | -2.40 | -2.80 | -1.54 | 3.12 | 6.59 | 1.19 |
| 2009 | N/R | N/R | N/R | N/R | N/R | N/R | N/R | N/R | N/R | N/R | -0.69 | 2.52 | 1.81 |
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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023/2024 | 4.18 | 1.51 | -0.54 | -6.45 | 4.76 | 7.14 | -1.07 | 4.43 | 1.59 | N/A | N/A | N/A | 15.91 |
| 2022/2023 | 12.28 | 1.67 | -6.53 | 7.58 | 5.75 | -3.87 | 5.95 | -4.62 | -3.85 | 2.61 | 0.34 | 0.34 | 17.13 |
| 2021/2022 | 5.01 | 2.58 | 0.45 | 1.57 | -1.35 | 2.81 | -7.55 | -7.48 | 2.86 | -7.29 | -9.60 | -12.30 | -27.92 |
| 2020/2021 | 3.70 | 18.80 | 2.00 | 7.79 | 13.22 | 3.56 | -3.05 | 4.07 | 1.21 | 13.23 | 0.26 | 1.62 | 87.09 |
| 2019/2020 | 6.67 | -1.09 | 4.38 | 1.54 | -3.22 | -1.50 | 2.46 | -10.97 | -39.71 | 20.57 | 18.04 | -2.16 | -18.36 |
| 2018/2019 | -0.52 | -1.90 | -2.19 | -6.16 | -3.78 | -3.68 | 0.98 | 4.46 | -0.95 | -2.02 | -3.97 | -1.46 | -19.58 |
| 2017/2018 | 2.32 | -0.95 | 2.69 | 0.95 | 0.21 | 4.06 | -0.57 | -3.18 | -2.64 | 2.77 | -0.97 | 1.91 | 6.50 |
| 2016/2017 | 6.99 | 3.25 | 4.50 | -1.99 | -4.65 | 1.76 | 7.20 | 1.29 | 1.60 | 1.16 | 1.16 | 1.00 | 25.17 |
| 2015/2016 | 7.94 | -4.46 | -1.38 | 12.87 | -2.97 | 0.22 | -1.33 | 2.70 | 4.40 | 2.48 | 1.51 | -3.92 | 18.03 |
| 2014/2015 | 6.70 | 2.56 | -1.23 | -2.06 | -0.21 | -1.15 | 0.94 | 3.38 | 4.87 | -2.42 | 3.13 | -2.34 | 12.31 |
| 2013/2014 | 10.45 | 1.13 | 4.77 | 2.50 | -0.11 | 0.38 | 1.05 | 0.48 | -1.28 | -3.44 | 1.28 | -0.15 | 17.72 |
| 2012/2013 | 8.70 | 0.44 | 2.83 | -3.07 | 4.57 | 0.33 | 5.83 | 4.86 | 4.51 | 1.41 | 2.65 | -0.69 | 36.89 |
| 2011/2012 | -1.00 | -2.61 | -7.20 | 9.89 | -0.02 | -4.62 | 1.53 | 8.90 | 5.02 | 2.17 | -0.51 | -2.64 | 7.75 |
| 2010/2011 | 4.97 | -2.40 | -2.80 | -1.54 | 3.12 | 6.59 | 1.58 | 0.47 | -1.49 | 3.40 | -5.39 | -0.83 | 5.11 |
| 2009/2010 | N/A | N/A | N/A | N/A | -0.69 | 2.52 | -1.66 | 0.08 | -0.34 | 4.60 | -4.27 | -4.40 | -4.40 |
