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Printed: 02 July 2022 2:29 AM

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23 Sep 2021 - Performance Report: Glenmore Australian Equities Fund
By: Australian Fund Monitors

Report Date23 September 2021
ManagerGlenmore Asset Management Pty Ltd
Fund NameGlenmore Australian Equities Fund
StrategyEquity Long
Latest Return DateAugust 2021
Latest Return10.38%
Latest 6 Months32.50%
Latest 12 Months53.69%
Latest 24 Months (pa)20.80%
Annualised Since Inception26.40%
Inception Date06 June 2017
FUM (millions)AU$14.4
Fund OverviewThe Fund is index unaware with an absolute return focus. The Fund seeks to invest in companies generating strong cashflows at attractive valuations. In absence of attractive investments being identified, the fund will hold cash. Glenmore will use a fundamental, research driven investment process to identify undervalued securities.

The main driver of identifying potential investments will be bottom up company analysis, however macro-economic conditions will be considered as part of the investment thesis for each stock.
Manager CommentsThe Glenmore Australian Equities Fund rose by +10.38% in August, an outperformance of +7.88% compared with the ASX 200 Total Return Index which rose by +2.5%. Over the past 12 months, the fund has risen by +53.69% compared with the index which has returned +28.15%, and since inception in June 2017 has returned +26.4% per annum vs the index's +10.76%.

The fund's Sharpe ratio has ranged from a high of 3.39 for performance over the most recent 12 months to a low of 0.8 over the latest 24 months, and is 1.14 for performance since inception. By contrast, the ASX 200 Total Return Index's Sharpe for performance since June 2017 is 0.7.

Since inception in June 2017 in the months where the market was positive, the fund has provided positive returns 92% of the time, contributing to an up-capture ratio for returns since inception of 231.09%. Over all other periods, the fund's up-capture ratio has ranged from a high of 211.43% over the most recent 48 months to a low of 160.09% 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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