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22 Sep 2021 - Performance Report: Bennelong Emerging Companies Fund

By: Australian Fund Monitors

Report Date22 September 2021
ManagerBennelong Australian Equity Partners (BAEP), a Bennelong boutique
Fund NameBennelong Emerging Companies Fund
StrategyEquity Long
Latest Return DateAugust 2021
Latest Return5.70%
Latest 6 Months13.45%
Latest 12 Months37.42%
Latest 24 Months (pa)25.88%
Annualised Since Inception30.16%
Inception Date01 November 2017
FUM (millions)AU$95.36
Fund OverviewThe Fund invests in ASX-listed securities of small and micro capitalised companies that are covered by the investment research capabilities of Bennelong Australian Equity Partners ('BAEP').

The Fund may invest in securities expected to be listed on the ASX within 12 months. The Fund may also invest in securities listed, or expected to be listed, on other exchanged where such securities relate to ASX-listed securities
Manager CommentsThe Bennelong Emerging Companies Fund rose by +5.7% in August, an outperformance of +3.2% compared with the ASX 200 Total Return Index which rose by +2.5%. Over the past 12 months, the fund has outperformed the index by +9.27%, and since inception in November 2017 has returned +30.16% per annum, a difference of +19.55% relative to the index which has returned +10.61% on an annualised basis over the same period.

The fund's Sharpe ratio has ranged from a high of 3.14 for performance over the most recent 12 months to a low of 0.82 over the latest 24 months, and is 0.98 for performance since inception. By contrast, the ASX 200 Total Return Index's Sharpe for performance since November 2017 is 0.67.

Since inception in November 2017 in the months where the market was positive, the fund has provided positive returns 85% of the time, contributing to an up-capture ratio for returns since inception of 321.13%. Over all other periods, the fund's up-capture ratio has ranged from a high of 276.99% over the most recent 36 months to a low of 123.55% over the latest 12 months. An up-capture ratio greater than 100% indicates that, on average, the fund has outperformed in the market's positive months over the specified period.
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