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Printed: 07 July 2022 11:12 PM

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15 Jul 2021 - Performance Report: Airlie Australian Share Fund
By: Australian Fund Monitors

Report Date15 July 2021
ManagerAirlie Funds Management
Fund NameAirlie Australian Share Fund
StrategyEquity Long
Latest Return DateJune 2021
Latest Return2.88%
Latest 6 Months16.33%
Latest 12 Months33.71%
Latest 24 Months (pa)16.57%
Annualised Since Inception13.26%
Inception Date01 June 2018
FUM (millions)AU$87.98
Fund OverviewThe Fund aims to provide investors with long-term capital growth and regular income through investment in Australian equities.

The Fund is long-only with a bottom-up focus. It has a concentrated portfolio of 15-35 stocks (target 25). Maximum cash holding of 10% with an aim to be fully invested.

Airlie employs a prudent investment approach that identifies companies based on their financial strength, attractive durable business characteristics and the quality of their management teams. Airlie invests in these companies when their view of their fair value exceeds the prevailing market price.

It is jointly managed by Matt Williams and Emma Fisher. Matt has over 25 years' investment experience and formerly held the role of Head of Equities and Portfolio Manager at Perpetual Investments. Emma has over 8 years' investment experience and has previously worked as an investment analyst within the Australian equities team at Fidelity International and, prior to that, at Nomura Securities.
Manager CommentsThe Airlie Australian Share Fund returned +2.88% in June, a difference of +0.62% compared with the ASX 200 Total Return index, which rose by +2.26%. Over the past 12 months the fund has returned +33.71%, compared with the index, which returned +27.8%, for a difference of +5.91%. Since inception in June, 2018, the fund has returned +13.26% per annum, a difference of +2.8% vs the index which has returned +10.46% over the same period.

Over the past 12 months, the fund's volatility has been 10.99% compared with the index's volatility of 10.42%. Since inception the fund's volatility has been 16.65% vs the index's volatility of 17.13%.

Since inception in the months when the market was positive the fund provided positive returns 100% of the time. It has an up-capture ratio of 109.14% since inception and 117.72% over the past 12 months. It has a down-capture ratio of 95.6% since inception, and 93.45% over the most recent 12 months. This indicates that the fund has typically outperformed in both the market's positive and negative months since its inception.
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