Fund Monitors Pty Ltd

www.fundmonitors.com
© Copyright 2022
Printed: 05 July 2022 11:33 PM

News

09 May 2022 - Performance Report: DS Capital Growth Fund
By: FundMonitors.com

Report Date09 May 2022
ManagerDS Capital
Fund NameDS Capital Growth Fund
StrategyEquity Long
Latest Return DateApril 2022
Latest Return-4.16%
Latest 6 Months-9.25%
Latest 12 Months-1.23%
Latest 24 Months (pa)18.51%
Annualised Since Inception14.25%
Inception Date01 January 2013
FUM (millions)AU$377
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 -4.16% in April, a difference of -3.31% compared with the ASX 200 Total Return Index which fell by -0.85%.

The DS Capital Growth Fund has a track record of 9 years and 4 months and has outperformed the ASX 200 Total Return Index since inception in January 2013, providing investors with an annualised return of 14.25% compared with the index's return of 9.58% over the same period.

On a calendar year basis, the fund has only experienced a negative annual return once in the 9 years and 4 months since its inception. Over the past 12 months, the fund's largest drawdown was -10.9% 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 fund had completely recovered its losses by August 2020.

The Manager has delivered these returns with 1.97% 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 1.1 since inception. The fund has provided positive monthly returns 89% of the time in rising markets and 35% of the time during periods of market decline, contributing to an up-capture ratio since inception of 66% and a down-capture ratio of 55%.
More Information

Australian Fund Monitors Pty Ltd
A.C.N. 122 226 724
AFSL 324476

Email: [email protected]