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31 Jan 2022 - Performance Report: Laureola Australia Feeder Fund


Report Date31 January 2022
ManagerLaureola Advisors
Fund NameLaureola Australia Feeder Fund
StrategyLife Settlements
Latest Return DateDecember 2021
Latest Return0.16%
Latest 6 Months4.21%
Latest 12 Months6.04%
Latest 24 Months (pa)7.79%
Annualised Since Inception15.12%
Inception Date01 May 2013
FUM (millions)US$63.7
Fund OverviewThe Laureola Investment Fund's strategy is to provide investors with exposure to the returns of life settlements in a risk mitigated manner.

Life Settlements are resold life insurance policies and can be thought of as a form of finance extended to an individual backed by the person's life insurance policy. This financing is repaid upon maturity by collecting the death benefit from the insurance company.

Risk mitigation measures implemented by Laureola include science-driven due diligence of policies, active monitoring of insured through a vertically integrated operation, and investor aligned fund design.
Manager CommentsThe Laureola Master Fund rose +0.16% in December against the Bloomberg AusBond Composite 0+ Yr Index's +0.09%. Over the past 12 months, the fund has returned +7.81% vs the index's +2.86%. The Laureola Australian Feeder Fund rose +1.8% in December.

The Laureola Master Fund has a track record of 8 years and 9 months and has consistently outperformed the Bloomberg AusBond Composite 0+ Yr Index since inception in May 2013, providing investors with a return of 15.12%, compared with the index's return of 3.71% over the same time period.

On a calendar basis the fund has never had a negative annual return in the 8 years and 9 months since its inception. Its largest drawdown was -4.9% lasting 10 months, occurring between December 2018 and October 2019.

The Manager has delivered higher returns but with higher volatility than the index, resulting in a Sharpe ratio which has never fallen below 1 and currently sits at 2.42 since inception. The fund has provided positive monthly returns 97% of the time in rising markets, and 100% of the time when the market was negative, contributing to an up capture ratio since inception of 160% and a down capture ratio of -258%.
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