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Printed: 13 April 2024 10:46 PM


21 Nov 2022 - Performance Report: Bennelong Australian Equities Fund


Report Date21 November 2022
ManagerBennelong Australian Equity Partners
Fund NameBennelong Australian Equities Fund
StrategyEquity Long
Latest Return DateOctober 2022
Latest Return4.31%
Latest 6 Months-11.45%
Latest 12 Months-26.94%
Latest 24 Months (pa)0.82%
Annualised Since Inception11.95%
Inception Date30 January 2009
FUM (millions)AU$982.52
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 rose by +4.31% in October, a difference of -1.73% compared with the ASX 200 Total Return Index which rose by +6.04%.

The Bennelong Australian Equities Fund has a track record of 13 years and 9 months and has outperformed the ASX 200 Total Return Index since inception in February 2009, providing investors with an annualised return of 11.95% compared with the index's return of 9.53% over the same period.

On a calendar year basis, the fund has only experienced a negative annual return once in the 13 years and 9 months since its inception. Over the past 12 months, the fund's largest drawdown was -30.31% vs the index's -11.9%, and since inception in February 2009 the fund's largest drawdown was -30.31% vs the index's maximum drawdown over the same period of -26.75%. The fund's maximum drawdown began in December 2021 and has so far lasted 10 months, reaching its lowest point during September 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 0.68 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 128% and a down-capture ratio of 99%.
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