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Printed: 05 July 2022 10:34 PM

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22 Jul 2021 - Performance Report: Atlantic Pacific Australian Equity Fund
By: Australian Fund Monitors

Report Date22 July 2021
ManagerAPSEC Funds Management
Fund NameAtlantic Pacific Australian Equity Fund
StrategyEquity Long/Short
Latest Return DateJune 2021
Latest Return2.92%
Latest 6 Months-4.34%
Latest 12 Months-2.56%
Latest 24 Months (pa)8.06%
Annualised Since Inception8.24%
Inception Date01 June 2013
FUM (millions)AU$42.87
Fund OverviewThe Fund will invest in a diversified portfolio of small to large cap Australian listed securities, and securities in respect of which listing has been proposed. Cash, cash equivalents, convertible notes and derivatives may also be included.

The primary objective of the Atlantic Pacific Australian Equity Fund is to generate a mixture of capital and income returns for investors with a high risk profile, over a 5 to 7 year investment period.

The Investment Manager believes that markets are fundamentally inefficient and that active investment management will result in higher than 'benchmark' returns. The Fund has adopted the S&P/ASX200 Accumulation Index as the benchmark for its performance. The Investment Manager also believes that, on review of many markets globally, no individual style or method of investing will always ensure outperformance in terms of return on investment.

In light of this, the Investment Manager may adopt a 'value', 'growth' or 'momentum' style bias, for example, depending on where the market is in its investment cycle. Further, the Investment Manager believes that actual and forecasted events underpin absolute and relative price movements of securities.

The Investment Manager will utilise a number of frameworks to assist in positioning the Fund's portfolio of investments. These include fundamental research, quantitative analysis, and macro and catalyst research.
Manager CommentsThe Atlantic Pacific Australian Equity Fund returned +2.92% in June, a difference of +0.66% compared with the ASX 200 Total Return index, which rose by +2.26%. Since inception in June, 2013, the fund has returned +8.24% per annum.

Over the past 12 months, the fund's volatility has been 8.97% compared with the index's volatility of 10.42%. Since inception the fund's volatility has been 10.04% vs the index's volatility of 13.62%, and over all other time periods the fund's volatility has been lower than the ASX 200 Total Return index.

The Fund has a down-capture ratio of 21.15% since inception, and ranging between -14.64% (5 years) and -44.21% (12 months). Since inception the fund's largest drawdown of -7.72% compared with the index which had a maximum drawdown of -26.75%. Collectively, this highlights the Fund's capacity to significantly outperform in falling markets.
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