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Printed: 01 December 2023 7:43 AM


16 Dec 2022 - Performance Report: Bennelong Australian Equities Fund


Report Date16 December 2022
ManagerBennelong Australian Equity Partners
Fund NameBennelong Australian Equities Fund
StrategyEquity Long
Latest Return DateNovember 2022
Latest Return2.63%
Latest 6 Months-1.76%
Latest 12 Months-25.40%
Latest 24 Months (pa)-1.18%
Annualised Since Inception12.08%
Inception Date30 January 2009
FUM (millions)AU$999.989
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 +2.63% in November, a difference of -3.95% compared with the ASX 200 Total Return benchmark which rose by +6.58%.

The Bennelong Australian Equities Fund has a track record of 13 years and 10 months and has outperformed the ASX 200 Total Return benchmark since inception in February 2009, providing investors with an annualised return of 12.08% compared with the benchmark's return of 9.98% over the same period.

On a calendar year basis, the fund has only experienced a negative annual return once in the 13 years and 10 months since its inception. Over the past 12 months, the fund's largest drawdown was -28.95% 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 11 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 1.44% more volatility than the benchmark, contributing to a Sharpe ratio which has fallen below 1 five times over the past five years and which currently sits at 0.69 since inception. The fund has provided positive monthly returns 91% 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 123% and a down-capture ratio of 99%.
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