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Printed: 06 July 2022 11:53 PM

News

01 Oct 2021 - Performance Report: Insync Global Capital Aware Fund
By: Australian Fund Monitors

Report Date01 October 2021
ManagerInsync Fund Managers
Fund NameInsync Global Capital Aware Fund
StrategyEquity Long
Latest Return DateAugust 2021
Latest Return2.26%
Latest 6 Months24.72%
Latest 12 Months20.27%
Latest 24 Months (pa)20.57%
Annualised Since Inception13.00%
Inception Date07 October 2009
FUM (millions)AU$79.82
Fund OverviewThe fund aims to outperform the MSCI All Country World ex-Australia Net Total Return Index (in Australian Dollars) over a full market cycle before the cost of protection while providing downside protection for severe market falls.

Insync invests in a concentrated portfolio of high quality companies that possess long 'runways' of future growth benefitting from Megatrends. Megatrends are multiyear structural and disruptive changes that transform the way we live our daily lives and result from a convergence of different underlying trends including innovation, politics, demographics, social attitudes and lifestyles. They provide important tailwinds to individual stocks and sectors, that reside within them. Insync believe this delivers exponential earnings growth ahead of market expectations.

The fund uses Put Options to help buffer the depth and duration that sharp, severe negative market impacts would otherwide have on the value of the fund during these events.

Insync screens the universe of 40,000 listed global companies to just 150 that it views as superior. This includes profitability, balance sheet performance, shareholder focus and valuations. 20-40 companies are then chosen for the portfolio. These reflect the best outcomes from further analysis using a proprietary DCF valuation, implied growth modelling, and free cash flow yield; alongside management, competitor, and industry scrutiny.

The Fund may hold some cash (maximum of 5%), derivatives, currency contracts for hedging purposes, and American and/or Global Depository Receipts. It is however, for all intents and purposes, a 'long-only' fund, remaining fully invested irrespective of market cycles.
Manager CommentsThe Insync Global Capital Aware Fund rose by +2.26% in August. Over the past 12 months, the fund has risen by +20.27%, and since inception in October 2009, the fund has returned +13% per annum.

The fund's Sharpe ratio has ranged from a high of 1.57 for performance over the most recent 12 months to a low of 1.38 over the latest 36 months, and is 1.03 for performance since inception. By contrast, the Global Equity Index's Sharpe for performance since October 2009 is 0.97.

The fund's Sortino ratio (which excludes volatility in positive months) has ranged from a high of 3.76 for performance over the most recent 12 months to a low of 2.8 over the latest 36 months, and is 2.01 for performance since inception. By contrast, the Global Equity Index's Sortino for performance since October 2009 is 1.59.

The fund's down-capture ratio for returns since inception is 61.74%. 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.
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