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27 Sep 2022 - Performance Report: ASCF High Yield Fund


Report Date27 September 2022
ManagerAustralian Secure Capital Fund
Fund NameASCF High Yield Fund
StrategyPrivate Debt/Mortgage
Latest Return DateAugust 2022
Latest Return0.53%
Latest 6 Months3.26%
Latest 12 Months6.78%
Latest 24 Months (pa)7.32%
Annualised Since Inception8.53%
Inception Date01 March 2017
FUM (millions)AU$136.964
Fund OverviewASCF High Yield Fund provides short term 1st and/or 2nd mortgage loans to a maximum Loan to Valuation Ratio (LVR) of 80% for a maximum term of 12 months on residential and commercial property.

Does not require full valuations on loans <65% LVR.

Borrowing rates are from 12% per annum on 1st mortgage loans and 16% per annum on 2nd mortgage/caveat loans.

Pays investors between 5.55% - 6.25% per annum depending on their investment term.
Manager CommentsThe ASCF High Yield Fund rose by +0.53% in August, an outperformance of +3.07% compared with the Bloomberg AusBond Composite 0+ Yr Index which fell by -2.54%.

The ASCF High Yield Fund has a track record of 5 years and 6 months and has outperformed the Bloomberg AusBond Composite 0+ Yr Index since inception in March 2017, providing investors with an annualised return of 8.53% compared with the index's return of 1.19% over the same period.

On a calendar year basis, the fund hasn't experienced any negative annual returns in the 5 years and 6 months since its inception. Over the past 12 months, the fund hasn't had any negative monthly returns and therefore hasn't experienced a drawdown. Over the same period, the index's largest drawdown was -10.78%. Since inception in March 2017, the fund's largest drawdown was 0% vs the index's maximum drawdown over the same period of -12.4%.

The Manager has delivered these returns with 4.08% less volatility than the index, contributing to a Sharpe ratio which has consistently remained above 1 over the past five years and which currently sits at 21.32 since inception. The fund has provided positive monthly returns 100% of the time in rising markets and 100% of the time during periods of market decline, contributing to an up-capture ratio since inception of 79% and a down-capture ratio of -74%.
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