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Printed: 02 July 2022 2:44 AM

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19 Aug 2021 - Performance Report: Prime Value Emerging Opportunities Fund
By: Australian Fund Monitors

Report Date19 August 2021
ManagerPrime Value Asset Management
Fund NamePrime Value Emerging Opportunities Fund
StrategyEquity Long
Latest Return DateJuly 2021
Latest Return0.59%
Latest 6 Months13.82%
Latest 12 Months37.97%
Latest 24 Months (pa)26.58%
Annualised Since Inception16.17%
Inception Date08 October 2015
FUM (millions)AU$59.79
Fund OverviewThe Prime Value Emerging Opportunities Fund invests in companies in the diversified emerging companies sector. The Fund seeks to achieve superior total returns over the medium to long term without the constraints of a benchmark. It is a long only concentrated fund that leverages Prime Value's fundamental research capabilities while minimizing the risk of permanent capital loss.

The Fund is comprised of a concentrated portfolio of securities outside the ASX100. The fund may invest up to 10% in global equities but for this portion typically only invests in New Zealand. Investments are primarily made in ASX listed and other exchange listed Australian securities, however, it may also invest up to 10% in unlisted Australian securities.

The Fund is designed for investors seeking medium to long term capital growth who are prepared to accept fluctuations in short term returns. The suggested minimum investment time frame is 3 years.
Manager CommentsThe Prime Value Emerging Opportunities Fund rose by +0.59% in July, and over the past 12 months has risen by +37.97% compared with the index's +28.56%. Since inception in October 2015, the fund has returned +16.17% per annum, a difference of +5.08% relative to the index which has returned +11.09% on an annualised basis over the same period.

The fund's Sharpe ratio has ranged from a high of 3.32 for performance over the most recent 12 months to a low of 0.91 over the latest 60 months, and is 1.03 for performance since inception. By contrast, the ASX 200 Total Return Index's Sharpe for performance since October 2015 is 0.75.

The fund's down-capture ratio for returns since inception is 45.74%. Over all other periods, the fund's down-capture ratio has ranged from a high of 68.03% over the most recent 36 months to a low of -4.64% over the latest 12 months. A down-capture ratio less than 100% indicates that, on average, the fund has outperformed in the market's negative months over the specified period, and negative down-capture ratio indicates that, on average, the fund delivered positive returns in the months the market fell.

Over the past 12 months, the fund hasn't had any negative monthly returns and therefore hasn't experienced a drawdown. Over the same period, the index's largest drawdown was -3.66%. Since inception in October 2015, the fund's largest drawdown was -23.79% vs the index's maximum drawdown over the same period of -26.75%.
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