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Printed: 21 June 2024 10:35 AM


13 Sep 2022 - Performance Report: Bennelong Australian Equities Fund


Report Date13 September 2022
ManagerBennelong Australian Equity Partners
Fund NameBennelong Australian Equities Fund
StrategyEquity Long
Latest Return DateAugust 2022
Latest Return-1.70%
Latest 6 Months-9.95%
Latest 12 Months-23.40%
Latest 24 Months (pa)3.86%
Annualised Since Inception12.44%
Inception Date30 January 2009
FUM (millions)AU$1033.23
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 -1.7% in August, a difference of -2.88% compared with the ASX 200 Total Return Index which rose by +1.18%.

The Bennelong Australian Equities Fund has a track record of 13 years and 7 months and has outperformed the ASX 200 Total Return Index since inception in February 2009, providing investors with an annualised return of 12.44% compared with the index's return of 9.7% over the same period.

On a calendar year basis, the fund has only experienced a negative annual return once in the 13 years and 7 months since its inception. Over the past 12 months, the fund's largest drawdown was -29.91% vs the index's -11.9%, and since inception in February 2009 the fund's largest drawdown was -29.91% 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 8 months, reaching its lowest point during June 2022. During this period, the index's maximum drawdown was -11.9%.

The Manager has delivered these returns with 1.53% 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 0.71 since inception. The fund has provided positive monthly returns 90% 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 130% and a down-capture ratio of 99%.
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