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Printed: 08 December 2022 12:25 AM

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13 Dec 2021 - Performance Report: Bennelong Concentrated Australian Equities Fund
By: Australian Fund Monitors

Report Date13 December 2021
ManagerBennelong Australian Equity Partners (BAEP), a Bennelong boutique
Fund NameBennelong Concentrated Australian Equities Fund
StrategyEquity Long
Latest Return DateOctober 2021
Latest Return1.56%
Latest 6 Months17.95%
Latest 12 Months39.09%
Latest 24 Months (pa)24.94%
Annualised Since Inception17.83%
Inception Date30 January 2009
FUM (millions)AU$2029.66
Fund OverviewThe Bennelong Concentrated Australian Equities Fund is a portfolio of BAEP's best high-conviction picks. It aims to grow investment value over the long term via a combination of capital growth and income, by investing in a diversified portfolio of Australian shares. It typically holds 20-35 stocks, primarily from the S&P/ASX 300 Accumulation Index.
Manager CommentsThe Bennelong Concentrated Australian Equities Fund rose +0.28% in November, outperforming the ASX200 Total Return Index by +0.82% and taking 12-month performance to +31.84% vs the index's +15.48%.

The Bennelong Concentrated Australian Equities Fund has a track record of 12 years and 11 months and has consistently outperformed the ASX 200 Total Return Index since inception in February 2009, providing investors with a return of 17.73%, compared with the index's return of 10.38% over the same time period.

On a calendar basis the fund has had 2 negative annual returns in the 12 years and 11 months since its inception. Its largest drawdown was -24.11% lasting 6 months, occurring between February 2020 and August 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 1.03 since inception. The fund has provided positive monthly returns 92% of the time in rising markets, and 20% of the time when the market was negative, contributing to an up capture ratio since inception of 165% and a down capture ratio of 91%.
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