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Printed: 08 July 2022 12:03 AM

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

Report Date16 July 2021
ManagerBennelong Australian Equity Partners (BAEP), a Bennelong boutique
Fund NameBennelong Australian Equities Fund
StrategyEquity Long
Latest Return DateJune 2021
Latest Return2.96%
Latest 6 Months15.56%
Latest 12 Months45.82%
Latest 24 Months (pa)24.47%
Annualised Since Inception15.29%
Inception Date30 January 2009
FUM (millions)AU$948.27
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 returned +2.96% in June, a difference of +0.7% compared with the ASX 200 Total Return index, which rose by +2.26%. Over the past 12 months the fund has returned +45.82%, compared with the index, which returned +27.8%, for a difference of +18.02%. Since inception in January, 2009, the fund has returned +15.29% per annum, a difference of +4.64% vs the index which has returned +10.65% over the same period.

Over the past 12 months, the fund's volatility has been 11.08% compared with the index's volatility of 10.42%. Since inception the fund's volatility has been 14.56% vs the index's volatility of 13.59%.

Since inception in the months when the market was positive the fund provided positive returns 93% of the time. It has an up-capture ratio of 143.69% since inception and 148.64 over the past 12 months. Across all other time periods, it has ranged between 150.52% (2 years) and 134.55% (3 years).

It has a down-capture ratio of 96.02% since inception, and ranging between 97.65% (3 years) and 50.11% (12 months).
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