DRAFT
Fund Review
Laureola Australia Feeder Fund
Performance as at Apr 2024
Laureola Advisors, founded in 2012 by Tony Bremness, is a specialist investment management firm focused on conservative risk-mitigated exposure to life settlements. The team has managed transactions over USD 1 billion in life insurance policies. Laureola Advisors, Inc. is approved by the BVI Financial Services Commission. Managing Director Tony Bremness plays a key role, contributing industry insights and expertise across alternative investment platforms, particularly in life settlements.
| 1 Year | 3 Years3 | 5 Years3 | 7 Years3 | Inception3,4 | ||
| Total Return | Fund | -3.26% | 0.23% | N/A | N/A | 0.67% |
| Peer Group1 | 8.39% | 8.21% | N/A | N/A | 9.21% | |
| Index2 | -0.73% | -2.13% | N/A | N/A | -2.13% | |
| Volatility | Fund | 2.33% | 3.42% | N/A | N/A | 3.13% |
| Peer Group1 | 2.29% | 3.43% | N/A | N/A | 3.80% | |
| Index2 | 5.76% | 6.39% | N/A | N/A | 6.00% | |
| 1Alternatives, 2Bloomberg AusBond Composite 0+ Yr Index, 3Annualised, 4Jul 2020 | ||||||
Strategy Description
The Laureola BVI Fund focuses on Life Settlements, involving the purchase of resold life insurance policies, effectively providing finance backed by the policyholder's life insurance. The financing is repaid upon policy maturity through the death benefit. Risk mitigation is achieved through science-driven policy due diligence, active insured monitoring, and investor-aligned fund design. Investors should note potential liquidity issues and current limitations and delays in the redemption process. After the closure of the Australian Feeder Fund in April 2024, its investors were transitioned to the Laureola BVI Fund.Cumulative Performance
Core Details |
PG = Peergroup Average | ||
| APIR: | Status: | Closed | |
| Peer Group: | Alternatives | Inception Date: | Jul 2020 |
| Strategy: | Life Settlements | Style: | N/A |
| Geography: | USA | Domicile: | Australia |
| Investors: | Wholesale | Distributions: | N/A |
| Fund Size: | US$ 25.5m | Manager FUM: | US$ 80m |
| Applications: | Monthly, Initial: AU$ 100,000 | Redemptions: | Monthly |
| Management Fee: | 2.00% (PG avg: 1.39%) | Performance Fee: | 20.00% (PG avg: 14.52%) |
| Buy/Sell Spread: | 0%/0% (PG avg: 0.34%/0.10%) | Hurdle: | 6% net realised |
| Early Redemption Fee | Yes | High Water Mark: | Yes |
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Laureola Australia Feeder Fund
Performance vs Alternatives and Bloomberg AusBond Composite 0+ Yr Index
Since inception in Jul 2020, the Fund has returned 0.67% p.a. vs the Peer Group's return over the same period of 9.21%. Over the past 12 months, the Fund has returned -3.26% vs the Peer Group's 8.39%. For the 3-year period, the Fund has returned 0.23% vs the Peer Group's return of 8.21% p.a. The Fund's returns have been delivered with a volatility of 3.13% p.a. vs the Peer Group's 3.8%.
| Year | Jan % | Feb % | Mar % | Apr % | May % | Jun % | Jul % | Aug % | Sep % | Oct % | Nov % | Dec % | YTD % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | -0.91 | -0.77 | -0.48 | -0.63 | NA | NA | NA | NA | NA | NA | NA | NA | -2.76 |
| 2023 | 0.17 | -0.68 | 0.25 | -0.61 | -0.45 | -0.62 | -0.55 | -0.70 | 0.69 | 1.53 | -0.23 | -0.17 | -1.39 |
| 2022 | -0.17 | -2.40 | 0.76 | 0.67 | -0.80 | -1.40 | -0.79 | 2.26 | 0.19 | -0.05 | -0.71 | 2.06 | -0.47 |
| 2021 | -0.15 | 0.29 | -0.03 | 0.22 | 0.29 | 0.25 | 0.14 | 1.97 | -0.07 | 0.82 | 0.24 | 1.75 | 5.84 |
| 2020 | NA | NA | NA | NA | NA | NA | -0.80 | 1.02 | 0.40 | 0.25 | -0.03 | 0.74 | 1.57 |
Notes:
The Laureola Australia Feeder Fund is the localised feeder fund to the Laureola Investment Master BVI Fund and is the AUD hedged class, launched in July 2020. Returns of the Master BVI Fund are prior to Jul 2020 are shown on the Master Fund's Profile. Investors should be aware that Life Settlements can suffer from liquidity issues, and that Laureola's redemption process is currently subject to delays and limitations.
| 1 Year | 3 Years | 5 Years | 7 Years | Inception | ||
| Total Return | Fund | -3.26% | 0.23% | N/A | N/A | 0.67% |
| Peer Group | 8.39% | 8.21% | N/A | N/A | 9.21% | |
| Index2 | -0.73% | -2.13% | N/A | N/A | -2.13% | |
| Volatility | Fund | 2.33% | 3.42% | N/A | N/A | 3.13% |
| Peer Group | 2.29% | 3.43% | N/A | N/A | 3.80% | |
| Index | 5.76% | 6.39% | N/A | N/A | 6.00% | |
| Sharpe | Fund | -3.16 | -0.54 | N/A | N/A | -0.32 |
| Peer Group | 1.75 | 1.65 | N/A | N/A | 1.84 | |
| Index | -0.82 | -0.66 | N/A | N/A | -0.63 | |
| Sortino | Fund | -2.55 | -0.75 | N/A | N/A | -0.46 |
| Peer Group | 7.73 | 4.39 | N/A | N/A | 5.31 | |
| Index | -1.04 | -0.86 | N/A | N/A | -0.81 | |
| Largest Drawdown | Fund | -3.14% | -4.56% | N/A | N/A | -4.56% |
| Peer Group | -0.07% | -2.16% | N/A | N/A | -2.16% | |
| Index | -4.04% | -12.94% | N/A | N/A | -13.20% |
Return in Index's 10 Best & 10 Worst Months %
Return in Index's 10 Best & 10 Worst Months %
Annualised Return vs Standard Deviation
Laureola Australia Feeder Fund - Annualised Return vs. Standard Deviation
Please view https://fundmonitors.com/disclaimer.php for the full disclaimer. The content is updated monthly and only the current version should be used.
Laureola Australia Feeder Fund
Annual Returns
Annual Returns %
Drawdown
Drawdown%
Service Providers
| Trustee/RE: | Emerging Manager Platform Ltd |
| Custodian: | Bank of Utah |
| Administrator: | Apex Fund Services |
| Auditor: | Deloitte & Touche |
| Legal: | Conyers Dill & Pearman, Morgan Lewis & Bockius LLPOne |
| Prime Broker: | N/A |
Available on Investment Platforms
OLIVIA123
Key Staff
Tony Bremness
Managing Director / CIO
Years at Firm: 14
Alex Lee
Director - Investor Relations (Australia and New Zealand)
Years at Firm: 7
About AFM's Fund Reviews and Star Ratings
AFM's proprietary Star Rating system provides a quantitative ranking of performance and risk of funds in its peer group relative to similar funds. Funds must have a minimum 1 year track record.
Star Ratings for Performance reflects annualised return. Risk is a combination of downside deviation, maximum drawdown and longest drawdown, which are allocated in reverse.
| AFM Star Rating | Relative performance band compared to funds in the same Peer Group |
|---|---|
| ★ ★ ★ ★ ★ | Premium: The fund is in the top 10% of all funds in its peer group. |
| ★ ★ ★ ★ ☆ | Top Quartile: The fund ranges between 75 and 90% of all funds in its peer group. |
| ★ ★ ★ ☆ ☆ | Second Quartile: The fund ranges between 50 and 75% of all funds in its peer group. |
| ★ ★ ☆ ☆ ☆ | Third Quartile: The fund ranges between 25 and 50% of all funds in its peer group. |
| ★ ☆ ☆ ☆ ☆ | Fourth Quartile: The fund is in the lowest 25% of all funds in its peer group. |
All performances, rankings and Star Ratings are updated monthly. Past performance does not guarantee future performance.
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Disclaimer
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