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18 Nov 2021 - Performance Report: Bennelong Emerging Companies Fund

By: Australian Fund Monitors

Report Date18 November 2021
ManagerBennelong Australian Equity Partners (BAEP), a Bennelong boutique
Fund NameBennelong Emerging Companies Fund
StrategyEquity Long
Latest Return DateOctober 2021
Latest Return1.16%
Latest 6 Months13.18%
Latest 12 Months41.46%
Latest 24 Months (pa)21.61%
Annualised Since Inception30.40%
Inception Date01 November 2017
FUM (millions)AU$111.89
Fund OverviewThe Bennelong Emerging Companies Fund provides exposure to small-cap and micro-cap stocks listed on the ASX. As these stocks are often less well known and researched, BAEP aims to be disciplined in focusing on higher quality and lower risk options that they believe have solid growth prospects.
Manager CommentsThe Bennelong Emerging Companies Fund rose +1.16% in October, outperforming the ASX200 Total Return Index by +1.26% and taking 12-month performance to +41.46% vs the Index's +27.96%.

The Bennelong Emerging Companies Fund has a track record of 4 years and therefore comparison over all market conditions and against the fund's peers is limited. However, since inception in November 2017, the fund has outperformed the ASX 200 Total Return Index, providing investors with an annualised return of 30.4%, compared with the index's return of 9.6% over the same time period.

On a calendar basis the fund has had 1 negative annual return in the 4 years since its inception. Its largest drawdown was -41.74% lasting 10 months, occurring between December 2019 and October 2020 when the index fell by a maximum of -26.75%.

The Manager has delivered higher returns but with higher volatility than the index, resulting in a Sharpe ratio which has fallen below 1 once and currently sits at 1.01 since inception. The fund has provided positive monthly returns 85% of the time in rising markets, and 36% of the time when the market was negative, contributing to an up capture ratio since inception of 321% and a down capture ratio of 119%.
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