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Performance Report: Bennelong Kardinia Absolute Return Fund
27 Sep 2022 - FundMonitors.com
The Bennelong Kardinia Absolute Return Fund rose by +0.05% in August. The fund has outperformed the ASX 200 Total Return Index since inception in May 2006, providing investors with an annualised return of 7.61% compared with the index's...
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27 Sep 2022 - Performance Report: Bennelong Kardinia Absolute Return Fund
By: FundMonitors.com
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| Fund Overview | There is a slight bias to large cap stocks on the long side of the portfolio, although in a rising market the portfolio will tend to hold smaller caps, including resource stocks, more frequently. On the short side, the portfolio is particularly concentrated, with stock selection limited by both liquidity and the difficulty of borrowing stock in smaller cap companies. Short positions are only taken when there is a high conviction view on the specific stock. The Fund uses derivatives in a limited way, mainly selling short dated covered call options to generate additional income. These typically have less than 30 days to expiry, and are usually 5% to 10% out of the money. ASX SPI futures and index put options can be used to hedge the portfolio's overall net position. The Fund's discretionary investment strategy commences with a macro view of the economy and direction to establish the portfolio's desired market exposure. Following this detailed sector and company research is gathered from knowledge of the individual stocks in the Fund's universe, with widespread use of broker research. Company visits, presentations and discussions with management at CEO and CFO level are used wherever possible to assess management quality across a range of criteria. |
| Manager Comments | The Bennelong Kardinia Absolute Return Fund has a track record of 16 years and 4 months and has outperformed the ASX 200 Total Return Index since inception in May 2006, providing investors with an annualised return of 7.61% compared with the index's return of 6.16% over the same period. On a calendar year basis, the fund has experienced a negative annual return on 2 occasions in the 16 years and 4 months since its inception. Over the past 12 months, the fund's largest drawdown was -10.52% vs the index's -11.9%, and since inception in May 2006 the fund's largest drawdown was -11.71% vs the index's maximum drawdown over the same period of -47.19%. The fund's maximum drawdown began in June 2018 and lasted 2 years and 6 months, reaching its lowest point during December 2018. The fund had completely recovered its losses by December 2020. During this period, the index's maximum drawdown was -26.75%. The Manager has delivered these returns with 6.6% less 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 0.63 since inception. The fund has provided positive monthly returns 87% of the time in rising markets and 32% of the time during periods of market decline, contributing to an up-capture ratio since inception of 15% and a down-capture ratio of 55%. |
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Performance Report: Airlie Australian Share Fund
26 Sep 2022 - FundMonitors.com
The Airlie Australian Share Fund rose by +2.79% in August, an outperformance of +1.61% compared with the ASX 200 Total Return Index which rose by +1.18%. The fund has outperformed the ASX 200 Total Return Index since inception in June...
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26 Sep 2022 - Performance Report: Airlie Australian Share Fund
By: FundMonitors.com
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| Fund Overview | The Fund is long-only with a bottom-up focus. It has a concentrated portfolio of 15-35 stocks (target 25). The fund has a maximum cash holding of 10% with an aim to be fully invested. Airlie employs a prudent investment approach that identifies companies based on their financial strength, attractive durable business characteristics and the quality of their management teams. Airlie invests in these companies when their view of their fair value exceeds the prevailing market price. It is jointly managed by Matt Williams and Emma Fisher. Matt has over 25 years' investment experience and formerly held the role of Head of Equities and Portfolio Manager at Perpetual Investments. Emma has over 8 years' investment experience and has previously worked as an investment analyst within the Australian equities team at Fidelity International and, prior to that, at Nomura Securities. |
| Manager Comments | The Airlie Australian Share Fund has a track record of 4 years and 3 months and therefore comparison over all market conditions and against its peers is limited. However, the fund has outperformed the ASX 200 Total Return Index since inception in June 2018, providing investors with an annualised return of 10.07% compared with the index's return of 7.5% over the same period. On a calendar year basis, the fund hasn't experienced any negative annual returns in the 4 years and 3 months since its inception. Over the past 12 months, the fund's largest drawdown was -16.29% vs the index's -11.9%, and since inception in June 2018 the fund's largest drawdown was -23.8% 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 the same level of volatility as the index, contributing to a Sharpe ratio which has fallen below 1 four times over the past four years and which currently sits at 0.63 since inception. The fund has provided positive monthly returns 97% of the time in rising markets and 12% of the time during periods of market decline, contributing to an up-capture ratio since inception of 111% and a down-capture ratio of 97%. |
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Performance Report: Bennelong Emerging Companies Fund
21 Sep 2022 - FundMonitors.com
The Bennelong Emerging Companies Fund returned -1.38% in August. The fund has outperformed the ASX 200 Total Return Index since inception in November 2017, providing investors with an annualised return of 17.84% compared with the index's...
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21 Sep 2022 - Performance Report: Bennelong Emerging Companies Fund
By: FundMonitors.com
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| Manager Comments | The Bennelong Emerging Companies Fund has a track record of 4 years and 10 months and therefore comparison over all market conditions and against its peers is limited. However, the fund has outperformed the ASX 200 Total Return Index since inception in November 2017, providing investors with an annualised return of 17.84% compared with the index's return of 7.54% over the same period. On a calendar year basis, the fund has only experienced a negative annual return once in the 4 years and 10 months since its inception. Over the past 12 months, the fund's largest drawdown was -31.43% vs the index's -11.9%, and since inception in November 2017 the fund's largest drawdown was -41.74% vs the index's maximum drawdown over the same period of -26.75%. The fund's maximum drawdown began in December 2019 and lasted 10 months, reaching its lowest point during March 2020. The fund had completely recovered its losses by October 2020. The Manager has delivered these returns with 14.99% more volatility than the index, contributing to a Sharpe ratio which has fallen below 1 four times over the past four years and which currently sits at 0.67 since inception. The fund has provided positive monthly returns 79% of the time in rising markets and 32% of the time during periods of market decline, contributing to an up-capture ratio since inception of 275% and a down-capture ratio of 125%. |
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Performance Report: Digital Asset Fund (Digital Opportunities Class)
20 Sep 2022 - FundMonitors.com
The Digital Asset Fund (Digital Opportunities Class) rose by +0.15% in August, an outperformance of +10.89% compared with the S&P Cryptocurrency Broad Digital Market Index which fell by -10.74%. The fund has outperformed the index since...
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20 Sep 2022 - Performance Report: Digital Asset Fund (Digital Opportunities Class)
By: FundMonitors.com
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| Fund Overview | The Fund offers a choice of three investment classes, each of which adopts a different investment strategy: - The Digital Opportunities Class identifies and trades low risk arbitrage opportunities between different exchanges and a number of digital assets; - The Digital Index Class tracks the performance of a basket of digital assets; - The Bitcoin Index Class tracks the performance of Bitcoin. Digital Opportunities Class: This class appeals to investors seeking an active exposure to the digital asset markets with no directional bias. The Digital Opportunities Class employs a high frequency inspired Market Neutral strategy trading 24/7 which uses a systematic approach designed to offer uncorrelated returns to the underlying highly volatile cryptocurrency markets. The strategy systematically exploits low-risk arbitrage opportunities across the most liquid and active digital asset markets on the most respected exchanges. When appropriate the Fund may obtain leverage, including through borrowing cash, securities and other instruments, and entering into derivative transactions and repurchase agreements. DAFM has a currency hedging policy in place for the Units in the Fund. Units in the Fund will be hedged against exposure to assets denominated in US dollars through a trading account with spot, forwards and options as directed by DAFM. |
| Manager Comments | The Digital Asset Fund (Digital Opportunities Class) has a track record of 1 year and 4 months and therefore comparison over all market conditions and against its peers is limited. However, the fund has outperformed the S&P Cryptocurrency Broad Digital Market Index since inception in May 2021, providing investors with an annualised return of 41.3% compared with the index's return of -49.28% over the same period. 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 -71.98%. Since inception in May 2021, the fund's largest drawdown was 0% vs the index's maximum drawdown over the same period of -71.98%. The Manager has delivered these returns with 53.37% less volatility than the index, contributing to a Sharpe ratio for performance over the past 12 months of 3.05 and for performance since inception of 1.61. 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 6% and a down-capture ratio of -48%. |
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Performance Report: Bennelong Twenty20 Australian Equities Fund
20 Sep 2022 - FundMonitors.com
The Bennelong Twenty20 Australian Equities Fund returned -0.75% in August. The fund has outperformed the ASX 200 Total Return Index since inception in November 2009, providing investors with an annualised return of 9.64% compared with the...
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20 Sep 2022 - Performance Report: Bennelong Twenty20 Australian Equities Fund
By: FundMonitors.com
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| Manager Comments | The Bennelong Twenty20 Australian Equities Fund has a track record of 12 years and 10 months and has outperformed the ASX 200 Total Return Index since inception in November 2009, providing investors with an annualised return of 9.64% compared with the index's return of 7.65% over the same period. On a calendar year basis, the fund has experienced a negative annual return on 2 occasions in the 12 years and 10 months since its inception. Over the past 12 months, the fund's largest drawdown was -21.68% 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 0.69% 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 0.58 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 118% and a down-capture ratio of 98%. |
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Performance Report: Insync Global Quality Equity Fund
19 Sep 2022 - FundMonitors.com
The Insync Global Quality Equity Fund returned -4.59% in August. The fund's strategy has outperformed the Global Equity Index since inception in October 2009, providing investors with an annualised return of 11.55% compared with the...
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19 Sep 2022 - Performance Report: Insync Global Quality Equity Fund
By: FundMonitors.com
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| Fund Overview | Insync invests in a concentrated portfolio of high quality companies that possess long 'runways' of future growth benefitting from Megatrends. Megatrends are multiyear structural and disruptive changes that transform the way we live our daily lives and result from a convergence of different underlying trends including innovation, politics, demographics, social attitudes and lifestyles. They provide important tailwinds to individual stocks and sectors, that reside within them. Insync believe this delivers exponential earnings growth ahead of market expectations. Insync screens the universe of 40,000 listed global companies to just 150 that it views as superior. This includes profitability, balance sheet performance, shareholder focus and valuations. 20-40 companies are then chosen for the portfolio. These reflect the best outcomes from further analysis using a proprietary DCF valuation, implied growth modelling, and free cash flow yield; alongside management, competitor, and industry scrutiny. The Fund may hold some cash (maximum of 5%), derivatives, currency contracts for hedging purposes, and American and/or Global Depository Receipts. It is however, for all intents and purposes, a 'long-only' fund, remaining fully invested irrespective of market cycles. |
| Manager Comments | The Insync Global Quality Equity Fund's strategy has a track record of 12 years and 11 months and has outperformed the Global Equity Index since inception in October 2009, providing investors with an annualised return of 11.55% compared with the index's return of 10.4% over the same period. On a calendar year basis, the fund has only experienced a negative annual return once in the 12 years and 11 months since its inception. Over the past 12 months, the fund's largest drawdown was -27.21% vs the index's -15.77%, and since inception in October 2009 the fund's largest drawdown was -27.21% vs the index's maximum drawdown over the same period of -15.77%. The fund's maximum drawdown began in January 2022 and has lasted 7 months, reaching its lowest point during June 2022. The Manager has delivered these returns with 1.59% 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 0.8 since inception. The fund has provided positive monthly returns 82% of the time in rising markets and 20% of the time during periods of market decline, contributing to an up-capture ratio since inception of 85% and a down-capture ratio of 88%. |
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Performance Report: Cyan C3G Fund
16 Sep 2022 - FundMonitors.com
The Cyan C3G Fund returned -4.8% in August. The fund has a track record of 8 years and 1 month and has outperformed the ASX Small Ordinaries Total Return Index since inception in August 2014, providing investors with an annualised return...
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16 Sep 2022 - Performance Report: Cyan C3G Fund
By: FundMonitors.com
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| Fund Overview | Cyan C3G Fund is based on the investment philosophy which can be defined as a comprehensive, clear and considered process focused on delivering growth. These are identified through stringent filter criteria and a rigorous research process. The Manager uses a proprietary stock filter in order to eliminate a large proportion of investments due to both internal characteristics (such as gearing levels or cash flow) and external characteristics (such as exposure to commodity prices or customer concentration). Typically, the Fund looks for businesses that fit one or more of the following criteria: a) under researched, b) fundamentally undervalued, c) have a catalyst for re-rating. The Manager seeks to achieve this investment outcome by actively managing a portfolio of Australian listed securities. When the opportunity to invest in suitable securities cannot be found, the manager may reduce the level of equities exposure and accumulate a defensive cash position. Whilst it is the company's intention, there is no guarantee that any distributions or returns will be declared, or that if declared, the amount of any returns will remain constant or increase over time. The Fund does not invest in derivatives and does not use debt to leverage performance. However, companies in which the Fund invests may be leveraged. |
| Manager Comments | The Cyan C3G Fund has a track record of 8 years and 1 month and has outperformed the ASX Small Ordinaries Total Return Index since inception in August 2014, providing investors with an annualised return of 7.34% compared with the index's return of 6.64% over the same period. On a calendar year basis, the fund has only experienced a negative annual return once in the 8 years and 1 month since its inception. Over the past 12 months, the fund's largest drawdown was -43.77% vs the index's -23.76%, and since inception in August 2014 the fund's largest drawdown was -43.77% vs the index's maximum drawdown over the same period of -29.12%. The fund's maximum drawdown began in November 2021 and has lasted 9 months, reaching its lowest point during June 2022. During this period, the index's maximum drawdown was -23.88%. The Manager has delivered these returns with 1.31% 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 0.41 since inception. The fund has provided positive monthly returns 84% of the time in rising markets and 36% of the time during periods of market decline, contributing to an up-capture ratio since inception of 60% and a down-capture ratio of 81%. |
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Performance Report: Altor AltFi Income Fund
15 Sep 2022 - FundMonitors.com
The Altor AltFi Income Fund rose by +0.73% in August, an outperformance of +3.27% compared with the Bloomberg AusBond Composite 0+ Yr Index which fell by -2.54%. The fund has outperformed the index since inception in April 2018, providing...
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15 Sep 2022 - Performance Report: Altor AltFi Income Fund
By: FundMonitors.com
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| Fund Overview | The Fund invests in a diversified portfolio of private credit instruments across a number of small to medium enterprises. Investors will receive cash distributions on a quarterly basis and will gain further capital upside through free attaching equity exposure on some of the debt investments the Fund makes. The Fund does not provide credit facilities to property or property linked investments. The fund is managed by Altor Credit Partners. The investment committee comprises Harley Dalton and Ben Harrison. |
| Manager Comments | The Altor AltFi Income Fund has a track record of 4 years and 5 months and therefore comparison over all market conditions and against its peers is limited. However, the fund has outperformed the Bloomberg AusBond Composite 0+ Yr Index since inception in April 2018, providing investors with an annualised return of 11.57% compared with the index's return of 0.64% over the same period. On a calendar year basis, the fund hasn't experienced any negative annual returns in the 4 years and 5 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 April 2018, the fund's largest drawdown was -0.03% vs the index's maximum drawdown over the same period of -12.4%. The fund's maximum drawdown began in March 2020 and lasted 1 month, reaching its lowest point during March 2020. The fund had completely recovered its losses by April 2020. During this period, the index's maximum drawdown was -0.28%. The Manager has delivered these returns with 2.27% less volatility than the index, contributing to a Sharpe ratio which has consistently remained above 1 over the past four years and which currently sits at 3.96 since inception. The fund has provided positive monthly returns 100% of the time in rising markets and 95% of the time during periods of market decline, contributing to an up-capture ratio since inception of 114% and a down-capture ratio of -74%. |
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Performance Report: Glenmore Australian Equities Fund
15 Sep 2022 - FundMonitors.com
The Glenmore Australian Equities Fund rose by +5.18% in August, an outperformance of +4% compared with the ASX 200 Total Return Index which rose by +1.18%. The fund has outperformed the index since inception in June 2017, providing...
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15 Sep 2022 - Performance Report: Glenmore Australian Equities Fund
By: FundMonitors.com
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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 3 months and has outperformed the ASX 200 Total Return Index since inception in June 2017, providing investors with an annualised return of 22.84% compared with the index's return of 7.91% over the same period. On a calendar year basis, the fund hasn't experienced any negative annual returns in the 5 years and 3 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 7.52% more volatility than the index, contributing to a Sharpe ratio which has fallen below 1 four times over the past five years and which currently sits at 1 since inception. The fund has provided positive monthly returns 90% of the time in rising markets and 38% of the time during periods of market decline, contributing to an up-capture ratio since inception of 249% and a down-capture ratio of 102%. |
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Performance Report: Collins St Value Fund
15 Sep 2022 - FundMonitors.com
The Collins St Value Fund returned -2.13% in August. The fund has outperformed the ASX 200 Total Return Index since inception in February 2016, providing investors with an annualised return of 16.17% compared with the index's return of...
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15 Sep 2022 - Performance Report: Collins St Value Fund
By: FundMonitors.com
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| Fund Overview | The managers of the fund intend to maintain a concentrated portfolio of investments in ASX listed companies that they have investigated and consider to be undervalued. They will assess the attractiveness of potential investments using a number of common industry based measures, a proprietary in-house model and by speaking with management, industry experts and competitors. Once the managers form a view that an investment offers sufficient upside potential relative to the downside risk, the fund will seek to make an investment. If no appropriate investment can be identified the managers are prepared to hold cash and wait for the right opportunities to present themselves. |
| Manager Comments | The Collins St Value Fund has a track record of 6 years and 7 months and has outperformed the ASX 200 Total Return Index since inception in February 2016, providing investors with an annualised return of 16.17% compared with the index's return of 9.49% over the same period. On a calendar year basis, the fund hasn't experienced any negative annual returns in the 6 years and 7 months since its inception. Over the past 12 months, the fund's largest drawdown was -11.41% vs the index's -11.9%, and since inception in February 2016 the fund's largest drawdown was -27.46% vs the index's maximum drawdown over the same period of -26.75%. The fund's maximum drawdown began in February 2020 and lasted 7 months, reaching its lowest point during March 2020. The fund had completely recovered its losses by September 2020. The Manager has delivered these returns with 3.38% more volatility than the index, contributing to a Sharpe ratio which has fallen below 1 three times over the past five years and which currently sits at 0.89 since inception. The fund has provided positive monthly returns 83% of the time in rising markets and 63% of the time during periods of market decline, contributing to an up-capture ratio since inception of 76% and a down-capture ratio of 42%. |
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