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Printed: 17 June 2024 4:38 AM


15 Aug 2022 - Performance Report: Bennelong Emerging Companies Fund


Report Date15 August 2022
ManagerBennelong Australian Equity Partners
Fund NameBennelong Emerging Companies Fund
StrategyEquity Long
Latest Return DateJuly 2022
Latest Return12.29%
Latest 6 Months-13.54%
Latest 12 Months-13.73%
Latest 24 Months (pa)13.01%
Annualised Since Inception18.53%
Inception Date01 November 2017
FUM (millions)AU$96.92
Fund OverviewThe Bennelong Emerging Companies Fund provides exposure to small-cap and micro-cap stocks listed on the ASX. As these stocks are often less well known and researched, BAEP aims to be disciplined in focusing on higher quality and lower risk options that they believe have solid growth prospects.
Manager CommentsThe Bennelong Emerging Companies Fund rose by +12.29% in July, an outperformance of +6.54% compared with the ASX 200 Total Return Index which rose by +5.75%.

The Bennelong Emerging Companies Fund has a track record of 4 years and 9 months and therefore comparison over all market conditions and against its peers is limited. However, the fund has outperformed the ASX 200 Total Return Index since inception in November 2017, providing investors with an annualised return of 18.53% compared with the index's return of 7.42% over the same period.

On a calendar year basis, the fund has only experienced a negative annual return once in the 4 years and 9 months since its inception. Over the past 12 months, the fund's largest drawdown was -31.43% vs the index's -11.9%, and since inception in November 2017 the fund's largest drawdown was -41.74% vs the index's maximum drawdown over the same period of -26.75%. The fund's maximum drawdown began in December 2019 and lasted 10 months, reaching its lowest point during March 2020. The fund had completely recovered its losses by October 2020.

The Manager has delivered these returns with 15.08% more volatility than the index, contributing to a Sharpe ratio which has fallen below 1 four times over the past four years and which currently sits at 0.69 since inception. The fund has provided positive monthly returns 82% of the time in rising markets and 32% of the time during periods of market decline, contributing to an up-capture ratio since inception of 285% and a down-capture ratio of 125%.
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