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Printed: 01 December 2022 6:29 PM


21 Jan 2022 - Performance Report: Longlead Pan-Asian Absolute Return Fund

Report Date21 January 2022
ManagerLonglead Capital Partners
Fund NameLonglead Pan-Asian Absolute Return Fund
StrategyEquity Long/Short
Latest Return DateDecember 2021
Latest Return1.62%
Latest 6 Months3.22%
Latest 12 Months0.09%
Latest 24 Months (pa)
Annualised Since Inception0.09%
Inception Date01 December 2020
FUM (millions)AU$80
Fund OverviewThe Fund will invest substantially all of its assets, to the extent not retained in cash or cash equivalents, in Class G Participating Shares of the Longlead Absolute Return Feeder Fund Ltd, an exempted company incorporated with limited liability in the Cayman Islands, which in turn invests substantially all of its assets in Longlead Absolute Return Master Fund Ltd, an exempted company incorporated with limited liability in the Cayman Islands, which predominantly deploys a long/short investment strategy based on fundamental, bottom up stock selection procedures and employs risk management techniques designed to manage portfolio risk.
Manager CommentsThe Longlead Absolute Return Fund (Master Fund) returned +1.42% in December, taking 12-month performance to +7.36%. The The Longlead Pan-Asian Absolute Return Fund (Feeder Fund) rose +1.62% in December.

The Longlead Absolute Return Fund has a track record of 4 years and 6 months and therefore comparison over all market conditions and against the fund's peers is limited. However, since inception in July 2017, the fund has outperformed the Asia Pacific Index, providing investors with an annualised return of 22.94%, compared with the index's return of 8.26% over the same time period.

On a calendar basis the fund has had 1 negative annual return in the 4 years and 6 months since its inception. Its largest drawdown was -14.88% lasting 13 months, occurring between January 2019 and February 2020 when the index fell by a maximum of -7.32%.

The Manager has delivered higher returns but with higher volatility than the index, resulting in a Sharpe ratio which has fallen below 1 three times and currently sits at 1.45 since inception. The fund has provided positive monthly returns 63% of the time in rising markets, and 63% of the time when the market was negative, contributing to an up capture ratio since inception of 74% and a down capture ratio of -84%.
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