|Latest Return Date|
|Latest 6 Months|
|Latest 12 Months|
|Latest 24 Months (pa)|
|Annualised Since Inception|
The Fund is long-only with a bottom-up focus. It has a concentrated portfolio of 15-35 stocks (target 25). Maximum cash holding of 10% with an aim to be fully invested.
Airlie employs a prudent investment approach that identifies companies based on their financial strength, attractive durable business characteristics and the quality of their management teams. Airlie invests in these companies when their view of their fair value exceeds the prevailing market price.
It is jointly managed by Matt Williams and Emma Fisher. Matt has over 25 years' investment experience and formerly held the role of Head of Equities and Portfolio Manager at Perpetual Investments. Emma has over 8 years' investment experience and has previously worked as an investment analyst within the Australian equities team at Fidelity International and, prior to that, at Nomura Securities.
The fund's returns over the past 12 months have been achieved with a volatility of 10.71% vs the index's 10.33%. The annualised volatility of the fund's returns since inception in June 2018 is 16.28% vs the index's 16.71%. Over the past 24 and 36 month periods, the fund's returns have had an annualised volatility of 18.97% and 16.86% respectively, lower than the index's annualised volatility over both periods; 19.72% (24 months), 17.34% (36 months).
Since inception in June 2018 in the months where the market was positive, the fund has provided positive returns 100% of the time, contributing to an up-capture ratio for returns since inception of 112.96%. Over all other periods, the fund's up-capture ratio has ranged from a high of 123.44% over the most recent 24 months to a low of 112.28% over the latest 36 months. An up-capture ratio greater than 100% indicates that, on average, the fund has outperformed in the market's positive months.
The fund's down-capture ratio for returns since inception is 95.6%. Over all other periods, the fund's down-capture ratio has ranged from a high of 95.6% over the most recent 36 months to a low of 88.36% over the latest 24 months. A down-capture ratio less than 100% indicates that, on average, the fund has outperformed in the market's negative months.