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Printed: 06 July 2022 10:37 PM

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29 Jun 2022 - Performance Report: Bennelong Concentrated Australian Equities Fund
By: FundMonitors.com

Report Date29 June 2022
ManagerBennelong Australian Equity Partners
Fund NameBennelong Concentrated Australian Equities Fund
StrategyEquity Long
Latest Return DateMay 2022
Latest Return-7.01%
Latest 6 Months-26.45%
Latest 12 Months-15.97%
Latest 24 Months (pa)7.80%
Annualised Since Inception14.34%
Inception Date30 January 2009
FUM (millions)AU$1581.62
Fund OverviewThe Bennelong Concentrated Australian Equities Fund is a portfolio of BAEP's best high-conviction picks. 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 20-35 stocks, primarily from the S&P/ASX 300 Accumulation Index.
Manager CommentsThe Bennelong Concentrated Australian Equities Fund returned -7.01% in May, a difference of -4.41% compared with the ASX 200 Total Return Index which fell by -2.6%.

The Bennelong Concentrated 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 14.34% compared with the index's return of 10.09% over the same period.

On a calendar year basis, the fund has experienced a negative annual return on 2 occasions in the 13 years and 4 months since its inception. Over the past 12 months, the fund's largest drawdown was -26.45% vs the index's -6.35%, and since inception in February 2009 the fund's largest drawdown was -26.45% vs the index's maximum drawdown over the same period of -26.75%. The fund's maximum drawdown began in December 2021 and has lasted 5 months, reaching its lowest point during May 2022. During this period, the index's maximum drawdown was -6.35%.

The Manager has delivered these returns with 1.93% 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 0.81 since inception. The fund has provided positive monthly returns 90% of the time in rising markets and 19% of the time during periods of market decline, contributing to an up-capture ratio since inception of 137% and a down-capture ratio of 96%.
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