DRAFT
Fund Review
DS Capital Growth Fund
Performance as at May 2026
DS Capital, established in 2012 by founders James Davis and Rodney Brott, is a fund manager focused on disciplined capital growth through a robust research infrastructure. James, the Chief Investment Officer, manages the portfolio of the DS Capital Growth Fund alongside his extensive investment management experience. Rodney, the Chief Executive Officer, oversees operations and portfolio management, leveraging his 20 years of expertise in equities and wealth management.
| 1 Year | 3 Years3 | 5 Years3 | 7 Years3 | Inception3,4 | ||
| Total Return | Fund | 0.83% | 10.65% | 4.76% | 8.38% | 11.71% |
| Peer Group1 | 4.88% | 9.84% | 4.48% | 8.49% | 10.83% | |
| Index2 | 6.89% | 11.02% | 8.10% | 8.47% | 9.11% | |
| Volatility | Fund | 13.12% | 11.70% | 13.26% | 15.21% | 12.13% |
| Peer Group1 | 13.56% | 11.33% | 13.36% | 17.14% | 14.09% | |
| Index2 | 9.98% | 10.63% | 12.30% | 14.90% | 13.22% | |
| 1Equity Long - Small/Mid Cap - Australia, 2ASX 200 Total Return, 3Annualised, 4Jan 2013 | ||||||
Strategy Description
The Fund aims to achieve an average annual return of at least 10% while preserving capital, investing in a concentrated portfolio of small and mid-cap companies. It uses both quantitative and qualitative analysis to select industrial businesses, generally avoiding large caps, mining, biotech, and start-ups. The Fund seeks companies with competitive advantages, solid margins, organic growth prospects, a strong market position, and a history of dividend growth. It targets sectors with structural advantages and barriers to entry, requiring a 15% annual pre-tax compound return per holding and prioritising stable, predictable cash flows that can be well understood and valued.Cumulative Performance
Core Details |
PG = Peergroup Average | ||
| APIR: | DSC0001AU | Status: | Open |
| Peer Group: | Equity Long - Small/Mid Cap - Australia | Inception Date: | Jan 2013 |
| Strategy: | Equity Long | Style: | Growth |
| Geography: | Australia | Domicile: | Australia |
| Investors: | Wholesale | Distributions: | Annually |
| Fund Size: | AU$ 368m | Manager FUM: | AU$ 406m |
| Applications: | Monthly, Initial: AU$ 250,000 | Redemptions: | Monthly |
| Management Fee: | 1.50% (PG avg: 1.15%) | Performance Fee: | 20.00% (PG avg: 16.31%) |
| Buy/Sell Spread: | 0%/0% (PG avg: 0.27%/0.27%) | Hurdle: | GAV increase of 7% above HWM |
| Early Redemption Fee | No | High Water Mark: | Yes |
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DS Capital Growth Fund
Performance vs Equity Long - Small/Mid Cap - Australia and ASX 200 Total Return
Since inception in Jan 2013, the Fund has returned 11.71% p.a. vs the Peer Group's return over the same period of 10.83%. Over the past 12 months, the Fund has returned 0.83% vs the Peer Group's 4.88%. For the 3, 5 and 7 year periods, the Fund has returned 10.65%, 4.76% and 8.38% respectively vs the Peer Group's returns of 9.84%, 4.48% and 8.49% respectively. The Fund's returns have been delivered with a volatility of 12.13% p.a. vs the Peer Group's 14.09%.
Only seven years of data shown. Click here to view all data.
| Year | Jan % | Feb % | Mar % | Apr % | May % | Jun % | Jul % | Aug % | Sep % | Oct % | Nov % | Dec % | YTD % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -0.27 | -2.26 | -7.88 | 7.54 | 1.31 | NA | NA | NA | NA | NA | NA | NA | -2.17 |
| 2025 | 1.97 | -3.10 | -5.80 | 1.39 | 3.72 | 5.06 | 2.21 | 1.01 | 0.32 | 0.08 | -2.79 | -2.66 | 0.88 |
| 2024 | 1.79 | 2.71 | 1.62 | -3.13 | 1.23 | 2.27 | 2.02 | 0.77 | 2.02 | 2.30 | 5.70 | -0.18 | 20.61 |
| 2023 | 6.78 | -1.72 | -0.95 | 2.07 | -2.22 | 2.81 | 4.30 | 3.37 | -3.78 | -4.06 | 5.52 | 5.40 | 18.08 |
| 2022 | -7.43 | -3.55 | 4.13 | -4.16 | -5.54 | -6.20 | 8.75 | -0.43 | -8.25 | 3.97 | 1.94 | -2.90 | -19.27 |
| 2021 | -0.09 | 2.20 | -0.16 | 4.69 | -0.34 | 3.13 | 1.93 | 5.38 | -1.97 | 0.56 | 0.49 | 1.35 | 18.30 |
| 2020 | 1.85 | -5.81 | -17.76 | 14.05 | 8.65 | 1.56 | 2.19 | 6.60 | -0.57 | 0.80 | 6.19 | 4.17 | 19.90 |
| 2019 | 2.58 | 3.78 | 1.02 | 5.76 | 2.37 | 0.75 | 1.90 | -0.62 | 2.45 | 1.57 | 2.29 | 0.51 | 27.09 |
| 2018 | -0.42 | -1.31 | -0.36 | 0.64 | 2.18 | 2.12 | 0.17 | 2.64 | -0.71 | -5.35 | -0.39 | -2.57 | -3.58 |
| 2017 | -0.45 | -0.66 | 1.88 | 1.77 | 0.84 | 0.68 | -0.60 | 1.23 | 1.89 | 2.30 | 2.74 | 2.14 | 14.56 |
| 2016 | -0.64 | -1.58 | 1.87 | 0.72 | 5.14 | -2.39 | 4.90 | 0.70 | 0.57 | -2.96 | -1.14 | 1.91 | 6.93 |
| 2015 | 1.76 | 5.95 | 2.34 | 0.93 | 1.31 | -1.66 | 5.22 | -1.40 | 0.98 | 3.87 | 3.50 | 1.97 | 27.43 |
| 2014 | -0.61 | 3.41 | 0.13 | -0.05 | 2.02 | -1.33 | 1.96 | 3.14 | -1.56 | 1.88 | 1.33 | 1.55 | 12.38 |
| 2013 | 3.39 | 2.71 | 2.05 | 2.90 | -0.05 | -1.19 | 4.76 | 2.42 | 3.37 | 3.41 | 0.25 | 0.81 | 27.64 |
| 1 Year | 3 Years | 5 Years | 7 Years | Inception | ||
| Total Return | Fund | 0.83% | 10.65% | 4.76% | 8.38% | 11.71% |
| Peer Group | 4.88% | 9.84% | 4.48% | 8.49% | 10.83% | |
| Index2 | 6.89% | 11.02% | 8.10% | 8.47% | 9.11% | |
| Volatility | Fund | 13.12% | 11.70% | 13.26% | 15.21% | 12.13% |
| Peer Group | 13.56% | 11.33% | 13.36% | 17.14% | 14.09% | |
| Index | 9.98% | 10.63% | 12.30% | 14.90% | 13.22% | |
| Sharpe | Fund | -0.16 | 0.58 | 0.20 | 0.46 | 0.80 |
| Peer Group | 0.14 | 0.53 | 0.17 | 0.43 | 0.66 | |
| Index | 0.34 | 0.66 | 0.46 | 0.47 | 0.57 | |
| Sortino | Fund | -0.31 | 0.77 | 0.18 | 0.55 | 1.12 |
| Peer Group | 0.09 | 0.67 | 0.14 | 0.47 | 0.83 | |
| Index | 0.36 | 0.91 | 0.58 | 0.53 | 0.71 | |
| Largest Drawdown | Fund | -15.03% | -15.03% | -21.56% | -22.53% | -22.53% |
| Peer Group | -14.37% | -14.37% | -23.29% | -29.83% | -29.83% | |
| Index | -7.15% | -7.19% | -11.90% | -26.75% | -26.75% |
Return in Index's 10 Best & 10 Worst Months %
Return in Index's 10 Best & 10 Worst Months %
Annualised Return vs Standard Deviation
DS Capital Growth Fund - Annualised Return vs. Standard Deviation
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DS Capital Growth Fund
Annual Returns
Annual Returns %
Drawdown
Drawdown%
Service Providers
| Trustee/RE: | DS Capital |
| Custodian: | Mainstream Fund Services |
| Administrator: | Mainstream Fund Services |
| Auditor: | KPMG |
| Legal: | SBA Law |
| Prime Broker: | N/A |
Available on Investment Platforms
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Key Staff
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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