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| Strategy | |
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| Fund Overview | The main driver of identifying potential investments will be bottom up company analysis, however macro-economic conditions will be considered as part of the investment thesis for each stock. |
| Manager Comments | The Glenmore Australian Equities Fund has a track record of 5 years and 7 months and has outperformed the ASX 200 Total Return benchmark since inception in June 2017, providing investors with an annualised return of 20.78% compared with the benchmark's return of 7.92% over the same period. On a calendar year basis, the fund has only experienced a negative annual return once in the 5 years and 7 months since its inception. Over the past 12 months, the fund's largest drawdown was -16.18% vs the index's -11.9%, and since inception in June 2017 the fund's largest drawdown was -36.91% vs the index's maximum drawdown over the same period of -26.75%. The fund's maximum drawdown began in October 2019 and lasted 1 year and 1 month, reaching its lowest point during March 2020. The fund had completely recovered its losses by November 2020. The Manager has delivered these returns with 7.12% 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 0.93 since inception. The fund has provided positive monthly returns 91% of the time in rising markets and 35% of the time during periods of market decline, contributing to an up-capture ratio since inception of 233% and a down-capture ratio of 103%. |
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