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Printed: 07 July 2022 11:50 PM

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25 Jun 2021 - Performance Report: Insync Global Capital Aware Fund
By: Australian Fund Monitors

Report Date25 June 2021
ManagerInsync Fund Managers
Fund NameInsync Global Capital Aware Fund
StrategyEquity Long
Latest Return DateMay 2021
Latest Return-1.05%
Latest 6 Months3.20%
Latest 12 Months8.55%
Latest 24 Months (pa)18.62%
Annualised Since Inception11.80%
Inception Date07 October 2009
FUM (millions)AU$66.29
Fund OverviewInsync's investment strategy is driven by fundamentals combined with active risk management with the aim of to investing in high quality, large cap global companies at attractive prices. Insync looks for companies that can consistently pay rising dividends and earn high returns on invested capital. Insync aims to provide investors with long term capital growth and some income. The Global Capital Aware Fund is a concentrated portfolio of large cap global companies with downside protection.

Insync employs four simple screens to narrow the universe of over 40,000 listed companies globally to a focus group of high quality companies that it believes have the potential to consistently grow their profits and dividends. These screens are size of the company, balance sheet performance, valuation and dividend quality. Companies that pass this due diligence process are then valued using dividend discount models, free cash flow yield and proprietary implied growth and expected return models. The end result is a high conviction portfolio of typically 15-30 stocks.

The principal investments will be in shares of companies listed on international stock exchanges (including the US, Europe and Asia). The Fund may also hold cash, derivatives (for example futures, options and swaps), currency contracts, American Depository Receipts and Global Depository Receipts. The Fund may also invest in various types of international pooled investment vehicles.

At times, Insync may consider holding higher levels of cash if valuations are full and it is difficult to find attractive investment opportunities. When Insync believes markets to be overvalued, it may hold part of its resources in cash, or use derivatives as a way of reducing its equity exposure. Insync may use options, futures and other derivatives to reduce risk or gain exposure to underlying physical investments. The Fund may purchase put options on market indices or specific stocks to hedge against losses caused by declines in the prices of stocks in its portfolio.
Manager CommentsThe Insync Global Capital Aware Fund returned -1.05% in May, and over the past 12 months has returned 8.55%. Since inception in September 2009, the fund has returned +11.8% per annum vs the index's +11.65% over the same period. The fund's returns since inception have been achieved with an annualised volatility of 9.9% vs the index's 10.17%.

The fund's Sharpe ratio has ranged from a high of 1.45 over the past 2 years, to a low of 0.82 over the most recent 12 months. Since inception the fund's Sharpe ratio has been 0.94 vs the index's 0.91.

The fund's Sortino ratio (which excludes volatility in positive months) vs the index has ranged from a maximum of 3.14 over the past 2 years, to a low of 1.48 over the most recent 12 months. Since inception the fund's Sortino ratio has been 1.77 vs the index's 1.46.

The fund has a down-capture ratio of -3.64% since inception. Over all time periods, it has achieved down-capture ratios ranging between 37.2% (3 years) and -7.37% (12 months).

The largest drawdown the fund has experienced since inception is -10.98% vs the Index's -13.59% over the same period.
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