| Fund Type: | Single | Discretionary/Quantitative: | Discretionary |
| Strategy: | Equity Long/Short | This Funds FUM (millions): | AU$87.68m |
| Style: | Blend | Fund Inception Date: | Since 21 January 2020 |
| Geographic Mandate: | Australia/Global | Latest Return Date: | August 2026 |
| Fund Domicile: | Australia | Investor Type: | Wholesale |
| Status: | Open | Reporting Status: | Current |
| Manager: | Argonaut Funds Management | Total FUM for all funds: | AU$123.34m |
|
Manager Overview:
Argonaut Funds Management is a high conviction investor in the Australian resources sector. It is based in the tier one mining jurisdiction of Western Australia and operates two resource focused funds. Argonaut Funds Management is part of Argonaut Group, an integrated investment house with corporate, stockbroking & research and special situations financing capability in the Australia/Asian region. The Funds Management activities operate independently from Argonaut Group and have rigorous governance and investment protocols and procedures. Argonaut Funds Management is overseen by a team of professionals with knowledge and expertise in the Australian resources sector. The funds are managed by an investment committee with an average of 26 years industry knowledge and a breadth of experience across a diverse range of disciplines. |
Fund/Strategy Overview:
Argonaut Natural Resources Fund ("ANRF") is an actively managed wholesale fund investing in listed resource and mining service companies. ANRF seeks to create a diversified portfolio of investments which will generate absolute returns in excess of the S&P ASX 300 Resources Index. The Fund typically holds between 10 and 25 separate equity investments. Its portfolio is built around a rigorous investment process that assesses Market conditions and Macro economic influences, then conducts detailed Micro stock specific analysis. At times, ANRF may consider holding higher levels of cash (max 30%) if valuations are full and it is difficult to find attractive investment opportunities. The Fund does not borrow for investment or any other purposes, but it may short sell securities as part of its portfolio protection strategies. |
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| Other funds operated by manager: | |||
| Argonaut Global Gold Fund | |||
| Minimum Investment: | Minimum Additional Investment: | Minimum Term: | Investment Frequency: |
| AU$50,000 | AU$10,000 | Monthly | |
| Regular Savings Option: | Regular Savings Min. Amount: |
Regular Savings Max. Amount: |
Regular Savings Freq.: |
| No | N/A | ||
| Redemption Notice: | Redemption Frequency: | Notes: | |
| 10 Days | Monthly |
||
| Distributions: | Distribution Frequency: | Last Distribution Date: | Last Distribution Amount: |
| Yes | Annually | 30 June 2022 | AU$0.333 |
| Offshore/Onshore: | Fund Structure: | Share Classes: |
Trustee/Responsible Entity: |
| Onshore | Unit Trust | AU$ | Argonaut Funds Management Pty Ltd (ACN 101 152 863) |
| Administrator: | Prime Broker: | Custodian: | Legal: |
| Automic | Argonaut Securities, Canaccord, and RBC | Certane Group Pty Ltd | Steinepreis Paganin |
| Management Fee: |
Performance Fee: |
High Water Mark: |
Hurdle: |
| 1% | 20% | Yes | Above the S&P ASX 300 RES return over the 12-month period between 1 July and 30 June |
| Buy Spread: | Sell spread: | Early Redemption Fee: | Fees Notes: |
| 0.000% | 0.000% | No |
| Latest Return Date: | Latest Result: | Fund Inception Date: | Annualised Return: |
| August 2026 | 11.81% | 21 January 2020 | 30.39% |
| Latest 3 Months: | Latest 6 Months: | Latest 12 Months: | Latest 2 Years p.a.: |
| -3.18% | -3.30% | 59.34% | 43.19% |
| Latest 3 Years p.a.: |
Latest 4 Years p.a.: |
Latest 5 Years p.a.: |
Latest 7 Years p.a.: |
| 24.24% | 20.70% | 25.72% | N/A |
| % Positive Months (S.I.): |
Average Return: | Average +ve Return: | Average -ve Return: |
| 61.25% | 2.44% | 6.39% | -3.93% |
| Best Month: | Worst Month: | Up Capture Ratio (S.I.): |
Down Capture Ratio (S.I.): |
| 16.14% | -15.20% | 123.85% | 71.21% |
| Largest Drawdown (S.I.): |
Longest Drawdown (S.I.): |
Current Drawdown (%): |
Current Drawdown (Months): |
| -19.06% | 14 months | -3.30% | 6 months |
| Annualised Standard Deviation (S.I.): |
Downside Deviation (S.I.): |
Sortino Ratio (S.I.): |
- |
| 22.15% | 11.74% | 2.08 | - |
| Sharpe Ratio (12 months): |
Sharpe Ratio (3 years): |
Sharpe Ratio (5 years): |
Sharpe Ratio (S.I.): |
| 1.59 | 0.91 | 1.02 | 1.21 |
| 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 Argonaut Natural Resources 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.
| Zenith: | Approved, June 2025 |
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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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 13.50 | 6.83 | -11.75 | 7.05 | 5.72 | -9.02 | -4.82 | 11.81 | N/R | N/R | N/R | N/R | 17.25 |
| 2025 | 5.70 | -1.70 | 1.65 | -1.05 | 8.86 | 0.70 | 1.00 | 7.30 | 16.14 | 2.50 | 0.90 | 13.14 | 68.73 |
| 2024 | -6.90 | -1.30 | 7.75 | 1.87 | 0.00 | -6.70 | 0.05 | -3.40 | 7.20 | 3.40 | -2.70 | -3.90 | -5.73 |
| 2023 | 9.91 | -7.95 | 3.62 | -0.54 | -2.38 | 2.35 | 2.00 | -0.20 | -0.09 | -2.41 | -1.71 | 7.30 | 9.05 |
| 2022 | 2.70 | 4.00 | 11.60 | -2.30 | -2.30 | -15.20 | 6.20 | 9.60 | -3.30 | 1.80 | 8.00 | -1.85 | 17.19 |
| 2021 | -0.09 | 1.90 | -5.27 | 12.12 | 2.52 | -3.38 | 10.40 | 2.70 | 3.90 | 8.60 | 5.90 | 10.30 | 60.06 |
| 2020 | -1.29 | -3.90 | -9.98 | 15.21 | 6.64 | 0.56 | 8.53 | 5.07 | -0.53 | 2.77 | 11.07 | 12.58 | 53.79 |
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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026/2027 | -4.82 | 11.81 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 6.42 |
| 2025/2026 | 1.00 | 7.30 | 16.14 | 2.50 | 0.90 | 13.14 | 13.50 | 6.83 | -11.75 | 7.05 | 5.72 | -9.02 | 62.27 |
| 2024/2025 | 0.05 | -3.40 | 7.20 | 3.40 | -2.70 | -3.90 | 5.70 | -1.70 | 1.65 | -1.05 | 8.86 | 0.70 | 14.76 |
| 2023/2024 | 2.00 | -0.20 | -0.09 | -2.41 | -1.71 | 7.30 | -6.90 | -1.30 | 7.75 | 1.87 | 0.00 | -6.70 | -1.49 |
| 2022/2023 | 6.20 | 9.60 | -3.30 | 1.80 | 8.00 | -1.85 | 9.91 | -7.95 | 3.62 | -0.54 | -2.38 | 2.35 | 26.53 |
| 2021/2022 | 10.40 | 2.70 | 3.90 | 8.60 | 5.90 | 10.30 | 2.70 | 4.00 | 11.60 | -2.30 | -2.30 | -15.20 | 44.18 |
| 2020/2021 | 8.53 | 5.07 | -0.53 | 2.77 | 11.07 | 12.58 | -0.09 | 1.90 | -5.27 | 12.12 | 2.52 | -3.38 | 56.13 |
| 2019/2020 | N/A | N/A | N/A | N/A | N/A | N/A | -1.29 | -3.90 | -9.98 | 15.21 | 6.64 | 0.56 | 5.50 |
