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28 Feb 2022 - Performance Report: Laureola Australia Feeder Fund


Report Date28 February 2022
ManagerLaureola Advisors
Fund NameLaureola Australia Feeder Fund
StrategyLife Settlements
Latest Return DateJanuary 2022
Latest Return-0.06%
Latest 6 Months3.72%
Latest 12 Months5.97%
Latest 24 Months (pa)7.33%
Annualised Since Inception14.96%
Inception Date01 May 2013
FUM (millions)US$62
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 returned -0.06% in January, an outperformance of +0.96% compared with the Bloomberg AusBond Composite 0+ Yr Index which fell by -1.02%.

The Laureola Master Fund has a track record of 8 years and 9 months and has outperformed the Bloomberg AusBond Composite 0+ Yr Index since inception in May 2013, providing investors with an annualised return of 14.96% compared with the index's return of 3.55% over the same period.

On a calendar year basis, the fund has only experienced a negative annual return once in the 8 years and 9 months since the start of its track record. Over the past 12 months, the fund's largest drawdown was -0.06% vs the index's -5.02%, and since inception in May 2013 the fund's largest drawdown was -4.9% vs the index's maximum drawdown over the same period of -5.31%. The fund's maximum drawdown began in December 2018 and lasted 10 months, reaching its lowest point during December 2018. The fund had completely recovered its losses by October 2019.

The Manager has delivered these returns with 2.06% more volatility than the index, contributing to a Sharpe ratio which has consistently remained above 1 over the past five years and which currently sits at 2.4 since inception. The fund has provided positive monthly returns 97% of the time in rising markets and 97% of the time during periods of market decline, contributing to an up-capture ratio since inception of 160% and a down-capture ratio of -249%.
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