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Printed: 07 July 2022 9:29 PM


26 Jul 2021 - Performance Report: Frazis Fund
By: Australian Fund Monitors

Report Date26 July 2021
ManagerFrazis Capital Partners
Fund NameFrazis Fund
StrategyEquity Long/Short
Latest Return DateJune 2021
Latest Return14.30%
Latest 6 Months15.98%
Latest 12 Months93.00%
Latest 24 Months (pa)63.68%
Annualised Since Inception31.58%
Inception Date01 July 2018
FUM (millions)AU$87
Fund OverviewThe Frazis Fund is a thematic long/short global equity fund, with a macro overlay. The portfolio pairs high conviction, concentrated, long-term equity investments, with asymmetric, proprietary hedging strategies, to create a unique and highly differentiated return profile.

The manager follows a disciplined, process-driven, and thematic strategy focused on five core investment strategies:

1) Growth stocks that are really value stocks;
2) Traditional deep value;
3) The life sciences;
4) Miners and drillers expanding production into supply deficits;
5) Global special situations;

The manager uses a macro overlay to manage exposure, hedging in three ways:

1) Direct shorts
2) Upside exposure to the VIX index
3) Index optionality
Manager CommentsThe Frazis Fund returned +14.3% in June, a difference of +9.76% compared with the Global Equity index, which rose by +4.54%. Over the past 12 months the fund has returned +93%, compared with the index, which returned +28.22%, for a difference of +64.78%. Since inception in July, 2018, the fund has returned +31.58% per annum, a difference of +17.39% vs the index which has returned +14.2% over the same period.

Over the past 12 months, the fund's volatility has been 31.48% compared with the index's volatility of 7.95%. Since inception the fund's volatility has been 36.66% vs the index's volatility of 11.81%.

Since inception in the months when the market was positive the fund provided positive returns 83% of the time. It has an up-capture ratio of 241.31% since inception and 262.09% over the past 12 months. Across all other time periods, it has ranged between 349.4% (2 years) and 241.31% (3 years).
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