|Latest Return Date|
|Latest 6 Months|
|Latest 12 Months|
|Latest 24 Months (pa)|
|Annualised Since Inception|
The investment team looks for industrial businesses that are simple to understand, generally avoiding large caps, pure mining, biotech and start-ups.
They also look for:
- Access to management;
- Businesses with a competitive edge;
- Profitable companies with good margins, organic growth prospects, strong market position and a track record of healthy dividend growth;
- Sectors with structural advantage and barriers to entry;
- 15% p.a. pre-tax compound return on each holding; and
- A history of stable and predictable cash flows that DS Capital can understand and value.
The DS Capital Growth Fund has a track record of 9 years and 1 month and has outperformed the ASX 200 Total Return Index since inception in January 2013, providing investors with an annualised return of 15.16% compared with the index's return of 8.91% over the same period.
On a calendar year basis, the fund has experienced a negative annual return on 2 occasions in the 9 years and 1 month since the start of its track record. Over the past 12 months, the fund's largest drawdown was -7.43% vs the index's -6.35%, and since inception in January 2013 the fund's largest drawdown was -22.53% 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 2.12% less 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 1.18 since inception. The fund has provided positive monthly returns 90% of the time in rising markets and 36% of the time during periods of market decline, contributing to an up-capture ratio since inception of 72% and a down-capture ratio of 51%.