| Report Date | |
| Manager | |
| Fund Name | |
| Strategy | |
| Latest Return Date | |
| Latest Return | |
| Latest 6 Months | |
| Latest 12 Months | |
| Latest 24 Months (pa) | |
| Annualised Since Inception | |
| Inception Date | |
| FUM (millions) | |
| Fund Overview | The Fund aims to produce returns after management fees and expenses of RBA Cash Rate + 4.0-5.0% p.a. over rolling five-year periods. Furthermore, the Fund aims to achieve these returns with volatility that is a fraction of the Australian equity market, in order to smooth returns for investors. |
| Manager Comments | The Fund's capacity protect investors' capital in falling and volatile markets is highlighted by the following statistics (since inception): Sortino ratio of 1.03 vs the Index's 0.54, maximum drawdown of -8.77% vs the Index's -26.75%, and down-capture ratio of 13.25%. The Fund's underlying managers prioritise fundamentals and generally invest in cash generative businesses that have a runway for sustainably growing earnings (and short businesses with the opposite characteristics). NWQ noted this approach has the potential to generate sustainable long-term returns but can be susceptible to short-term rotations away from high-quality or growth businesses and into low-quality or deep value businesses, as occurred in November. NWQ added that these rotations are typically temporary (lasting between 1-3 months) and are generally followed by periods of strong performance for the Fund, as was seen in 2013 and 2017. |
| More Information |
