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Printed: 02 July 2022 3:42 AM

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26 Jul 2021 - Performance Report: Insync Global Capital Aware Fund
By: Australian Fund Monitors

Report Date26 July 2021
ManagerInsync Fund Managers
Fund NameInsync Global Capital Aware Fund
StrategyEquity Long
Latest Return DateJune 2021
Latest Return9.56%
Latest 6 Months13.14%
Latest 12 Months21.84%
Latest 24 Months (pa)20.58%
Annualised Since Inception12.58%
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 +9.56% in June, a difference of +5.02% compared with the Global Equity index, which rose by +4.54%. Over the past 12 months the fund has returned +21.84%, compared with the index, which returned +28.22%, for a difference of -6.38%. Since inception in October, 2009, the fund has returned +12.58% per annum, a difference of +0.6% vs the index which has returned +11.98% over the same period.

Over the past 12 months, the fund's volatility has been 12.89% compared with the index's volatility of 7.95%. Since inception the fund's volatility has been 10.18% vs the index's volatility of 10.19%.

Since inception in the months when the market was positive the fund provided positive returns 80% of the time.

The fund has a down-capture ratio of 61.74% since inception, and ranging between 280.24% (12 months) and 55.08% (2 years). Its Sortino ratio (which excludes volatility in positive months) vs its index has ranged from a maximum of 4.03 over the most recent 12 months, to a low of 1.92 since inception. Collectively, this highlights the fund's capacity to protect investors' capital in falling and volatile markets over the long-term.
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