Fund Monitors Pty Ltd

www.fundmonitors.com
© Copyright 2022
Printed: 05 July 2022 10:32 PM

News

02 Jul 2021 - Performance Report: Bennelong Concentrated Australian Equities Fund
By: Australian Fund Monitors

Report Date02 July 2021
ManagerBennelong Australian Equity Partners (BAEP), a Bennelong boutique
Fund NameBennelong Concentrated Australian Equities Fund
StrategyEquity Long
Latest Return DateMay 2021
Latest Return3.53%
Latest 6 Months15.39%
Latest 12 Months38.30%
Latest 24 Months (pa)24.08%
Annualised Since Inception17.24%
Inception Date30 January 2009
FUM (millions)AU$1665.24
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 overriding objective of the Concentrated Australian Equities Fund is to seek investment opportunities which are under-appreciated and have the potential to deliver positive earnings, while satisfying our stringent quality criteria. Bennelong's investment process combines bottom-up fundamental analysis together with proprietary investment tools which are used to build and maintain high quality portfolios that are risk aware.

The portfolio typically consists of 20-35 high-conviction stocks from the S&P/ASX 300 Index.

The Fund may invest in securities listed on other exchanges where such securities relate to ASX-listed securities. Derivative instruments are mainly used to replicate underlying positions and hedge market and company specific risks.
Manager CommentsThe Bennelong Concentrated Australian Equities Fund returned +3.53% in May, a difference of +1.19% compared with the ASX 200 Total Return index, which rose by +2.34%. Over the past 12 months the fund has returned +38.3%, compared with the index's +28.23%. Since inception in January, 2009, the fund has returned +17.24% per annum, a difference of +6.71% vs the index which has returned +10.52% over the same period.

Over the past 12 months, the fund's volatility has been 10.62% compared with the index's volatility of 10.43%. Since inception the fund's volatility has been 14.95% vs the index's volatility of 13.63%.

The fund's Sortino ratio (which excludes volatility in positive months) vs the index has ranged from a maximum of 16.81 over the most recent 12 months, to a low of 0.77 over the past 3 years. Since inception the fund's Sortino ratio has been 1.44 vs the index's 0.81.

Since inception in the months when the market was positive the fund provided positive returns 92% of the time. Over all other time periods its best result has been 100% over 2 years. It has an up-capture ratio ranging between 153.31% (since inception) and 109.55% (3 years), and over the most recent 12 months has provided an up-capture ratio of 123.87%.
More Information

Australian Fund Monitors Pty Ltd
A.C.N. 122 226 724
AFSL 324476

Email: [email protected]