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Printed: 03 March 2024 9:45 AM


9 Feb 2022 - Performance Report: Bennelong Australian Equities Fund


Report Date09 February 2022
ManagerBennelong Funds Management
Fund NameBennelong Australian Equities Fund
StrategyEquity Long
Latest Return DateJanuary 2022
Latest Return-10.21%
Latest 6 Months-3.58%
Latest 12 Months10.04%
Latest 24 Months (pa)14.69%
Annualised Since Inception14.36%
Inception Date30 January 2009
FUM (millions)AU$1079.84
Fund OverviewThe Bennelong Australian Equities Fund is a high conviction 'core' fund. 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 25-50 stocks across the spectrum of the Australian share market (primarily from the S&P/ASX 300 Accumulation Index).
Manager CommentsThe Bennelong Australian Equities Fund returned -10.21% in January, a difference of -3.86% compared with the ASX 200 Total Return Index which fell by -6.35%. Over the past 12 months, the fund has risen by +10.04% compared with the index which has returned +9.44%, for a difference of +0.6%.

The Fund has a track record of 13 years and has outperformed the ASX 200 Total Return Index since inception in February 2009, providing investors with an annualised return of 14.36% compared with the index's return of 9.91% over the same period.

On a calendar year basis, the fund has experienced a negative annual return on 2 occasions in the 13 years since the start of its track record. Over the past 12 months, the fund's largest drawdown was -11.93% vs the index's -6.35%, and since inception in February 2009 the fund's largest drawdown was -24.32% vs the index's maximum drawdown over the same period of -26.75%. The fund's maximum drawdown began in February 2020 and lasted 6 months, reaching its lowest point during March 2020.

The Manager has delivered these returns with 1.26% more volatility than the index, contributing to a Sharpe ratio which has fallen below 1 four times over the past five years and which currently sits at 0.84 since inception. The fund has provided positive monthly returns 92% of the time in rising markets and 18% of the time during periods of market decline, contributing to an up-capture ratio since inception of 145% and a down-capture ratio of 97%.
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