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Printed: 06 July 2022 10:58 PM


23 Jul 2021 - Performance Report: Delft Partners Global High Conviction Strategy
By: Australian Fund Monitors

Report Date23 July 2021
ManagerDelft Partners
Fund NameDelft Partners Global High Conviction Strategy
StrategyEquity Long
Latest Return DateJune 2021
Latest Return1.55%
Latest 6 Months19.82%
Latest 12 Months30.48%
Latest 24 Months (pa)13.58%
Annualised Since Inception15.98%
Inception Date15 July 2011
FUM (millions)AU$10.8
Fund OverviewThe Global High Conviction Strategy seeks to outperform the MSCI World Index by 3-5% p.a. over rolling 5 year periods. The Fund invests in companies listed on major global developed market exchanges by combining 'fundamental' analysis with quantitative stock selection tools. There is typically a bias to large caps and a 'value' tilt resulting in higher dividend yield than the index.

The quantitative model is proprietary and designed in-house. The critical elements are Valuation, Momentum, and Quality (VMQ) and every stock in the global universe is scored and ranked. Verification of the quant model scores is then cross checked by fundamental analysis in which a company's Accounting policies, Governance, and Strategic positioning is evaluated.

The manager believes strategy is suited to investors seeking returns from investing in global companies, diversification away from Australia and a risk aware approach to global investing. It should be noted that this is a strategy in an IMA format and is not offered as a fund. An IMA solution can be a more cost and tax effective solution, for clients who wish to own fewer stocks in a long only strategy.
Manager CommentsThe Delft Partners Global High Conviction Strategy returned +1.55% in June. Over the past 12 months the strategy has returned +30.48%, compared with AFM's Global Equity Index, which returned +28.22%, for a difference of +2.26%. Since inception in July 2011, the strategy has returned +15.98% per annum, a difference of +1.24% vs the index which has returned +14.74% over the same period.

The strategy's Sharpe and Sortino ratios since inception are 1.16 and 2.18 respectively, highlighting its capacity to achieve superior risk-adjusted returns while avoiding the market's downside volatility.

Since inception in the months when the market was positive the strategy provided positive returns 88% of the time.It has an up-capture ratio of 102.6% since inception and 104.16 over the past 12 months.
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