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Printed: 08 July 2022 12:37 AM


20 Jul 2021 - Performance Report: Glenmore Australian Equities Fund
By: Australian Fund Monitors

Report Date20 July 2021
ManagerGlenmore Asset Management Pty Ltd
Fund NameGlenmore Australian Equities Fund
StrategyEquity Long
Latest Return DateJune 2021
Latest Return6.15%
Latest 6 Months15.04%
Latest 12 Months52.57%
Latest 24 Months (pa)17.01%
Annualised Since Inception23.61%
Inception Date06 June 2017
FUM (millions)AU$14.4
Fund OverviewThe Fund is index unaware with an absolute return focus. The Fund seeks to invest in companies generating strong cashflows at attractive valuations. In absence of attractive investments being identified, the fund will hold cash. Glenmore will use a fundamental, research driven investment process to identify undervalued securities.

The main driver of identifying potential investments will be bottom up company analysis, however macro-economic conditions will be considered as part of the investment thesis for each stock.
Manager CommentsThe Glenmore Australian Equities Fund returned +6.15% in June, a difference of +3.89% compared with the ASX 200 Total Return index, which rose by +2.26%. Over the past 12 months the fund has returned +52.57%, compared with the index, which returned +27.8%, for a difference of +24.77%. Since inception in June, 2017, the fund has returned +23.61% per annum, a difference of +13.35% vs the index which has returned +10.26% over the same period.

The fund's Sharpe ratio has ranged from a high of 3.15 over the most recent 12 months, to a low of 0.69 over the past 2 years. Since inception the fund's Sharpe ratio has been 1.03 vs the index which has a Sharpe ratio of 0.66.

The fund's Sortino ratio (which excludes volatility in positive months) vs its index has ranged from a maximum of 26.48 over the most recent 12 months, to a low of 0.7 over the past 2 years. Since inception the fund's Sortino ratio has been 1.26 vs the index's 0.75.

Since inception in the months when the market was positive the fund provided positive returns 91% of the time. It has an up-capture ratio ranging between 207.09% (since inception) and 159.24% (2 years), and over the most recent 12 months has provided an up-capture ratio of 158.46%.
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