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Printed: 07 July 2022 11:42 PM

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04 Oct 2021 - Performance Report: Insync Global Quality Equity Fund
By: Australian Fund Monitors

Report Date04 October 2021
ManagerInsync Fund Managers
Fund NameInsync Global Quality Equity Fund
StrategyEquity Long
Latest Return DateAugust 2021
Latest Return2.63%
Latest 6 Months26.28%
Latest 12 Months23.71%
Latest 24 Months (pa)20.26%
Annualised Since Inception15.02%
Inception Date01 July 2018
FUM (millions)AU$70.19
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.

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.

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 Quality Equity Fund rose by +2.63% in August. Over the past 12 months, the fund has risen by +23.71%, and since inception in October 2009, the fund has returned +15.02% per annum, a difference of +2.7% relative to the index which has returned +12.32% on an annualised basis over the same period.

The fund's Sharpe ratio has ranged from a high of 1.77 for performance over the most recent 12 months to a low of 1.26 over the latest 36 months, and is 1.14 for performance since inception. By contrast, the Global Equity Index's Sharpe for performance since October 2009 is 0.97.

Since inception in October 2009 in the months where the market was positive, the fund has provided positive returns 81% of the time, contributing to an up-capture ratio for returns since inception of 80.13%. Over all other periods, the fund's up-capture ratio has ranged from a high of 125.14% over the most recent 36 months to a low of 88.37% 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.

The fund's down-capture ratio for returns since inception is 69.16%. 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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