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Printed: 06 July 2022 10:29 PM

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07 Mar 2022 - Performance Report: DS Capital Growth Fund
By: FundMonitors.com

Report Date07 March 2022
ManagerDS Capital
Fund NameDS Capital Growth Fund
StrategyEquity Long
Latest Return DateFebruary 2022
Latest Return-3.55%
Latest 6 Months-10.37%
Latest 12 Months3.45%
Latest 24 Months (pa)14.90%
Annualised Since Inception14.56%
Inception Date01 January 2013
FUM (millions)AU$378
Fund OverviewThe Fund aims to deliver an average return of at least 10% p.a. through the economic cycle, with a focus on capital preservation. The Fund comprises a concentrated portfolio of small and mid-cap investments selected through a process of quantitative and qualitative analysis.

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.
Manager CommentsThe DS Capital Growth Fund returned -3.55% in February, a difference of -5.69% compared with the ASX 200 Total Return Index which rose by +2.14%. Over the past 12 months, the fund has risen by +3.45% compared with the index which has returned +10.19%, for a difference of -6.74%.

The DS Capital Growth Fund has a track record of 9 years and 2 months and has outperformed the ASX 200 Total Return Index since inception in January 2013, providing investors with an annualised return of 14.56% compared with the index's return of 9.07% over the same period.

The Manager has delivered these returns with 2.01% less volatility than the index, contributing to a Sharpe ratio which currently sits at 1.13 since inception. The fund has provided positive monthly returns 89% 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 68% and a down-capture ratio of 51%.
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