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19 Oct 2021 - Performance Report: Prime Value Emerging Opportunities Fund

By: Australian Fund Monitors

Report Date19 October 2021
ManagerPrime Value Asset Management
Fund NamePrime Value Emerging Opportunities Fund
StrategyEquity Long
Latest Return DateSeptember 2021
Latest Return-0.30%
Latest 6 Months17.15%
Latest 12 Months36.50%
Latest 24 Months (pa)27.49%
Annualised Since Inception16.63%
Inception Date08 October 2015
FUM (millions)AU$72.1
Fund OverviewThe Prime Value Emerging Opportunities Fund invests in companies in the diversified emerging companies sector. The Fund seeks to achieve superior total returns over the medium to long term without the constraints of a benchmark. It is a long only concentrated fund that leverages Prime Value's fundamental research capabilities while minimizing the risk of permanent capital loss.

The Fund is comprised of a concentrated portfolio of securities outside the ASX100. The fund may invest up to 10% in global equities but for this portion typically only invests in New Zealand. Investments are primarily made in ASX listed and other exchange listed Australian securities, however, it may also invest up to 10% in unlisted Australian securities.

The Fund is designed for investors seeking medium to long term capital growth who are prepared to accept fluctuations in short term returns. The suggested minimum investment time frame is 3 years.
Manager CommentsThe Prime Value Emerging Opportunities Fund returned -0.3% in September, an outperformance of +1.55% compared with the ASX 200 Total Return Index which fell by -1.85%. Over the past 12 months, the fund has risen by +36.5% compared with the index which has returned +30.56%, and since inception in October 2015, the fund has returned +16.63% per annum vs the index's +10.87%.

The fund's Sharpe ratio has ranged from a high of 3.23 for performance over the most recent 12 months to a low of 0.91 over the latest 60 months, and is 1.06 for performance since inception. By contrast, the ASX 200 Total Return Index's Sharpe for performance since October 2015 is 0.74.

The fund has a down-capture ratio for returns since inception of 45.39%. Over all other periods, the fund's down-capture ratio has ranged from a high of 71.76% over the most recent 36 months to a low of 16.19% over the latest 12 months. 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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