AFM Fund Profile — Cyan C3G Fund

Fund & Manager Details

Key Facts

Fund Type: Single Discretionary/Quantitative: Discretionary
Strategy: Equity Long FUM (millions): AU$15m
Style: Blend Fund Inception Date: Since 24 July 2014
Geographic Mandate: Australia Latest Return Date: March 2024
Fund Domicile: Australia Investor Type: Wholesale
Status: Open Reporting Status: Current

Manager Details and Fund Description

Manager: Cyan Investment Management Total FUM for all funds: AU$35m
Manager Overview:

Cyan Investment Management Pty Ltd (Cyan) is a Melbourne based boutique funds management business established in 2013. The portfolio managers, who are also the major shareholders and directors of Cyan, are Graeme Carson and Dean Fergie, have over 50 years of combined industry experience.

Dean Fergie (Founding Director and Portfolio Manager) was previously the founder and a major shareholder of OC Funds Ltd (formerly Opis Capital Limited), a boutique Australian equities fund manager. During his tenure, OC's funds returned an average annualised excess performance 5% p.a. above their respective benchmarks, and funds under management grew to over $350m across more than 1000 individual clients. Fergie was also responsible for the company's funds obtaining strong ratings from the major investment consultants such as Lonsec, Mercers, Standard and Poors, Zenith and Van Eyk, and the funds were added to numerous financial planning networks' "Approved Product Lists" or APL's. Fergie holds formal qualifications including Master of Applied Finance and Bachelor of Engineering (Civil), and is a Graduate of the Australian Institute of Company Directors. He currently also sits on the Investment Committee of Canterbury Funds Management.

Graeme Carson (Founding Director and Portfolio Manager) has over 25 years' experience in Australian Financial markets, having held roles in both stockbroking and funds management. The majority of his career has been focused on researching and valuing ASX listed companies of all sizes across many different sectors. Carson has worked for companies including Macquarie Bank, Bankers Trust and Bell Potter Securities, and has developed a passion for identifying and analysing high quality companies offering unrealised value for investors. His formal qualifications include a Bachelor of Business from Monash University in Melbourne.

Fund/Strategy Overview:
The Cyan C3G Fund operates as a wholesale unregistered managed investment scheme under a unit trust structure. The Fund primarily invests in ASX listed companies outside the ASX 100, and typically holds between 20 - 40 stocks.

Cyan C3G Fund is based on the investment philosophy which can be defined as a comprehensive, clear and considered process focused on delivering growth. These are identified through stringent filter criteria and a rigorous research process. The Manager uses a proprietary stock filter in order to eliminate a large proportion of investments due to both internal characteristics (such as gearing levels or cash flow) and external characteristics (such as exposure to commodity prices or customer concentration).

Typically, the Fund looks for businesses that fit one or more of the following criteria:

a) under researched,
b) fundamentally undervalued,
c) have a catalyst for re-rating.

The Manager seeks to achieve this investment outcome by actively managing a portfolio of Australian listed securities. When the opportunity to invest in suitable securities cannot be found, the manager may reduce the level of equities exposure and accumulate a defensive cash position. Whilst it is the company's intention, there is no guarantee that any distributions or returns will be declared, or that if declared, the amount of any returns will remain constant or increase over time. The Fund does not invest in derivatives and does not use debt to leverage performance. However, companies in which the Fund invests may be leveraged.

Investment Details

Investment Terms

Minimum Investment: Minimum Additional Investment: Minimum Term: Investment Frequency:
AU$100,000 AU$5,000 Monthly
Regular Savings Option: Regular Savings Min. Amount : Regular Savings Max. Amount : Regular Savings Freq.:
No  
Redemption Notice: Redemption Frequency: Notes:
5 Days Monthly
Distributions: Distribution Frequency: Last Distribution Date: Last Distribution Amount:
Yes Annually 01 July 2018 AU$0.09

Structure

Offshore/Onshore: Fund Structure: Share Classes: Trustee/Responsible Entity:
Onshore Unit Trust AU$ Cyan Investment Management
Administrator: Prime Broker: Custodian: Legal:
Apex Fund Services Not Applicable Sandhurst Trustees Steinepreis Paganin

Fund Fees

Management Fee: Performance Fee: High Water Mark: Hurdle:
1.5% 20% Yes 2.5% per Calendar Quarter
Buy Spread: Sell spread: Early Redemption Fee: Fees Notes:
0.300% 0.300% No The highest Unit Price (adjusted for di...

Performance & Risk

Returns

Latest Return Date: Latest Result: Fund Inception Date: Annualised Return:
March 2024 1.60% 24 July 2014 1.42%
Latest 3 Months: Latest 6 Months: Latest 12 Months: Latest 2 Years p.a.:
-4.26% -7.62% -19.58% -31.11%
Latest 3 Years p.a.: Latest 4 Years p.a.: Latest 5 Years p.a.: Latest 7 Years p.a.:
-24.72% -9.63% -12.45% -6.57%

Performance Statistics

% Positive Months (S.I.): Average Return: Average +ve Return: Average -ve Return:
57.76% 0.26% 3.50% -4.17%
Best Month: Worst Month: Up Capture Ratio (S.I.): Down Capture Ratio (S.I.):
12.21% -20.69% 33.23% 88.53%
Largest Drawdown (S.I.): Longest Drawdown (S.I.): Current Drawdown (%): Current Drawdown (Months):
-61.90% 29 months -61.29% 29 months

Risk

Annualised Standard Deviation (S.I.): Downside Deviation (S.I.): Sortino Ratio (S.I.): -
18.26% 13.67% -0.01 -
Sharpe Ratio (12 months): Sharpe Ratio (3 years): Sharpe Ratio (5 years): Sharpe Ratio (S.I.):
-1.97 -1.52 -0.54 0.08
Please note, Sharpe and Sortino ratios are calculated using the Australian Risk Free Rate

Ranking, Research & Availability

Fund Quintile in its Peer Group (Equity Long - Small/Mid Cap - Australia) as at March 2024

AFM's Quintile Rankings show performance and Key Performance Indicators (KPI's) of Cyan C3G 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
Cyan C3G Fund
ASX200 Total Return

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

Performance Report: Cyan C3G Fund
22 Apr 2024 - FundMonitors.com
The Cyan C3G Fund rose by 1.60% in March. Top contributors included Vinyl, Zoom2U and Quickstep, while Acusensus was the main detractor. Cyan noted in their latest report that, overall, recent company results, stock performances and...
Read more...
Performance Report: Cyan C3G Fund
22 Mar 2024 - FundMonitors.com
The Cyan C3G Fund returned -3.59% in February. Top contributors during the month included Playside Studios, Silk Logistics and Big River Industries, while key detractors included Alcidion and Acusensus. Cyan noted they are seeing improved...
Read more...
Performance Report: Cyan C3G Fund
16 Feb 2024 - FundMonitors.com
The Cyan C3G Fund returned -2.3% in January. Positive contributors included Playside Studios, Zoom2u, Touch Ventures, Readcloud and Acusensus, while the key detractors were Alcidion, Quickstep, Entyr and Swift Networks. Cyan noted in their...
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 %
2024 -2.26 -3.59 1.60 N/R N/R N/R N/R N/R N/R N/R N/R N/R -4.26
2023 -0.73 -7.73 -5.38 -1.98 -3.51 -8.07 7.15 -3.39 -3.28 -3.75 -1.51 1.79 -27.20
2022 -9.76 -7.96 0.26 -3.68 -14.03 -16.74 11.81 -4.82 -8.39 2.04 -0.63 -0.09 -43.30
2021 1.48 2.59 -3.07 2.22 -2.82 1.40 1.83 0.78 3.38 3.14 -2.23 0.18 8.94
2020 -0.26 -11.93 -20.69 8.94 9.16 0.50 9.90 11.65 -5.19 -2.02 12.21 1.35 7.93
2019 4.02 0.61 3.18 2.07 2.81 1.12 5.18 0.10 8.62 -1.64 -3.20 -4.19 19.54
2018 -0.28 1.57 -2.01 -5.28 3.41 0.05 2.32 0.65 -2.18 -6.23 -1.89 -4.18 -13.63
2017 1.90 0.10 1.20 1.90 0.20 2.40 2.30 3.60 3.20 6.12 2.40 4.24 33.71
2016 -0.84 -3.56 2.22 7.89 5.73 -0.35 5.80 1.60 1.70 -2.10 -2.50 -1.00 14.79
2015 1.90 6.26 4.57 1.76 0.66 0.33 5.07 -2.30 11.39 4.15 2.27 4.50 48.10
2014 N/R N/R N/R N/R N/R N/R N/R 2.40 -0.20 -0.29 -0.59 3.75 5.10

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 7.15 -3.39 -3.28 -3.75 -1.51 1.79 -2.26 -3.59 1.60 N/A N/A N/A -7.51
2022/2023 11.81 -4.82 -8.39 2.04 -0.63 -0.09 -0.73 -7.73 -5.38 -1.98 -3.51 -8.07 -25.57
2021/2022 1.83 0.78 3.38 3.14 -2.23 0.18 -9.76 -7.96 0.26 -3.68 -14.03 -16.74 -38.47
2020/2021 9.90 11.65 -5.19 -2.02 12.21 1.35 1.48 2.59 -3.07 2.22 -2.82 1.40 31.76
2019/2020 5.18 0.10 8.62 -1.64 -3.20 -4.19 -0.26 -11.93 -20.69 8.94 9.16 0.50 -13.14
2018/2019 2.32 0.65 -2.18 -6.23 -1.89 -4.18 4.02 0.61 3.18 2.07 2.81 1.12 1.76
2017/2018 2.30 3.60 3.20 6.12 2.40 4.24 -0.28 1.57 -2.01 -5.28 3.41 0.05 20.50
2016/2017 5.80 1.60 1.70 -2.10 -2.50 -1.00 1.90 0.10 1.20 1.90 0.20 2.40 11.49
2015/2016 5.07 -2.30 11.39 4.15 2.27 4.50 -0.84 -3.56 2.22 7.89 5.73 -0.35 41.42
2014/2015 N/A 2.40 -0.20 -0.29 -0.59 3.75 1.90 6.26 4.57 1.76 0.66 0.33 22.30