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Printed: 06 July 2022 10:52 PM

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25 Jun 2021 - Performance Report: Bennelong Australian Equities Fund
By: Australian Fund Monitors

Report Date25 June 2021
ManagerBennelong Australian Equity Partners (BAEP), a Bennelong boutique
Fund NameBennelong Australian Equities Fund
StrategyEquity Long
Latest Return DateMay 2021
Latest Return1.90%
Latest 6 Months14.52%
Latest 12 Months43.52%
Latest 24 Months (pa)24.81%
Annualised Since Inception15.13%
Inception Date30 January 2009
FUM (millions)AU$891.58
Fund OverviewBennelong Australian Equity Partners (BAEP) is a boutique asset manager offering Australian equities solutions for institutional and retail clients. The business was founded in 2008 by Paul Cuddy and Mark East, in partnership with Bennelong Funds Management. Prior to establishing BAEP, Paul and Mark were Co-Heads of Australian Equities at ING Investment Management.

The Bennelong Australian Equities Fund seeks quality investment opportunities which are under-appreciated and have the potential to deliver positive earnings.

The investment process combines bottom-up fundamental analysis with proprietary investment tools that are used to build and maintain high quality portfolios that are risk aware. The investment team manages an extensive company/industry contact program which helps identify and verify various investment opportunities.

The companies within the portfolio are primarily selected from, but not limited to, the S&P/ASX 300 Index. The Fund may invest in securities listed on other exchanges where such securities relate to the ASX-listed securities. The Fund typically holds between 25-60 stocks with a maximum net targeted position of an individual stock of 6%.
Manager CommentsThe Bennelong Australian Equities Fund rose +1.90% in May, taking 12-month performance to +43.52% vs the ASX200 Accumulation Index's +28.23%. Since inception in February 2009, the Fund has returned +15.13% p.a. vs the Index's +10.52%.

The Fund's Sharpe and Sortino ratios (since inception), 0.88 and 1.25 respectively, by contrast with the Index's Sharpe of 0.63 and Sortino of 0.81, highlight its capacity to produce superior risk-adjusted returns while avoiding the market's downside volatility over the long-term.

The Fund's up-capture ratio (since inception) of 143% indicates that, on average, the Fund has significantly outperformed during the market's positive months. The Fund has achieved up-capture ratios greater than 132% over all time periods.
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