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Printed: 05 February 2023 8:39 AM

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31 Jan 2023 - Performance Report: Bennelong Twenty20 Australian Equities Fund

By: FundMonitors.com

Report Date31 January 2023
ManagerBennelong Australian Equity Partners
Fund NameBennelong Twenty20 Australian Equities Fund
StrategyEquity Long
Latest Return DateDecember 2022
Latest Return-5.33%
Latest 6 Months4.44%
Latest 12 Months-18.01%
Latest 24 Months (pa)0.39%
Annualised Since Inception9.12%
Inception Date02 December 2015
FUM (millions)AU$71.62
Fund OverviewThe Bennelong Twenty20 Australian Equities Fund provides exposure to the S&P/ASX300 universe through a combination of actively managed ex-20 stocks and a passive exposure to the top 20 stocks. It aims to give investors a cost-effective opportunity to access BAEP's proven ex-20 strategy combined with an index position in the top 20.
Manager CommentsThe Bennelong Twenty20 Australian Equities Fund returned -5.33% in December, a difference of -2.12% compared with the ASX 200 Total Return benchmark which fell by -3.21%.

The Bennelong Twenty20 Australian Equities Fund has a track record of 13 years and 2 months and has outperformed the ASX 200 Total Return benchmark since inception in November 2009, providing investors with an annualised return of 9.12% compared with the benchmark's return of 7.67% over the same period.

On a calendar year basis, the fund has experienced a negative annual return on 3 occasions in the 13 years and 2 months since its inception. Over the past 12 months, the fund's largest drawdown was -16.99% vs the index's -11.9%, and since inception in November 2009 the fund's largest drawdown was -26.09% vs the index's maximum drawdown over the same period of -26.75%. The fund's maximum drawdown began in February 2020 and lasted 9 months, reaching its lowest point during March 2020. The fund had completely recovered its losses by November 2020.

The Manager has delivered these returns with 0.67% 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 0.54 since inception. The fund has provided positive monthly returns 94% of the time in rising markets and 7% of the time during periods of market decline, contributing to an up-capture ratio since inception of 114% and a down-capture ratio of 99%.
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