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Printed: 29 February 2024 1:54 AM


16 Jun 2022 - Performance Report: Bennelong Australian Equities Fund


Report Date16 June 2022
ManagerBennelong Australian Equity Partners
Fund NameBennelong Australian Equities Fund
StrategyEquity Long
Latest Return DateMay 2022
Latest Return-7.49%
Latest 6 Months-24.06%
Latest 12 Months-13.19%
Latest 24 Months (pa)11.62%
Annualised Since Inception12.71%
Inception Date30 January 2009
FUM (millions)AU$1060.07
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 -7.49% in May, a difference of -4.89% compared with the ASX 200 Total Return Index which fell by -2.6%.

The Bennelong Australian Equities Fund has a track record of 13 years and 4 months and has outperformed the ASX 200 Total Return Index since inception in February 2009, providing investors with an annualised return of 12.71% compared with the index's return of 10.09% over the same period.

On a calendar year basis, the fund has only experienced a negative annual return once in the 13 years and 4 months since its inception. Over the past 12 months, the fund's largest drawdown was -24.06% 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 fund had completely recovered its losses by August 2020.

The Manager has delivered these returns with 1.46% more volatility than the index, contributing to a Sharpe ratio which has fallen below 1 five times over the past five years and which currently sits at 0.74 since inception. The fund has provided positive monthly returns 91% of the time in rising markets and 17% of the time during periods of market decline, contributing to an up-capture ratio since inception of 129% and a down-capture ratio of 99%.
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