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Performance Report: Equitable Investors Dragonfly Fund
17 Mar 2022 - FundMonitors.com
The Equitable Investors Dragonfly Fund has a track record of 4 years and 6 months and therefore comparison over all market conditions and against its peers is limited. Since inception in September 2017, the fund has returned +0.31% per annum.
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17 Mar 2022 - Performance Report: Equitable Investors Dragonfly Fund
By: FundMonitors.com
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| Fund Overview | The Fund is an open ended, unlisted unit trust investing predominantly in ASX listed companies. Hybrid, debt & unlisted investments are also considered. The Fund is focused on investing in growing or strategic businesses and generating returns that, to the extent possible, are less dependent on the direction of the broader sharemarket. The Fund may at times change its cash weighting or utilise exchange traded products to manage market risk. Investments will primarily be made in micro-to-mid cap companies listed on the ASX. Larger listed businesses will also be considered for investment but are not expected to meet the manager's investment criteria as regularly as smaller peers. |
| Manager Comments | The Equitable Investors Dragonfly Fund has a track record of 4 years and 6 months and therefore comparison over all market conditions and against its peers is limited. Since inception in September 2017, the fund has returned +0.31% per annum, a difference of -8.58% relative to the index which has returned +8.89% on an annualised basis over the same period. The Manager has delivered these returns with 7.91% 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 0.09 since inception. The fund has provided positive monthly returns 57% of the time in rising markets and 29% of the time during periods of market decline, contributing to an up-capture ratio since inception of 61% and a down-capture ratio of 109%. |
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Performance Report: Insync Global Capital Aware Fund
17 Mar 2022 - FundMonitors.com
Over the past 12 months, the Insync Global Capital Aware Fund has risen by +8.61%, and since inception in October 2009 has returned +11.20% with an annualised volatility of 10.95%.
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17 Mar 2022 - Performance Report: Insync Global Capital Aware 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. The fund uses Put Options to help buffer the depth and duration that sharp, severe negative market impacts would otherwide have on the value of the fund during these events. 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 Capital Aware Fund has a track record of 12 years and 5 months and has underperformed the Global Equity Index since inception in October 2009, providing investors with an annualised return of 11.2% compared with the index's return of 11.37% 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 5 months since its inception. Over the past 12 months, the fund's largest drawdown was -15.61% vs the index's -7.46%, and since inception in October 2009 the fund's largest drawdown was -15.61% vs the index's maximum drawdown over the same period of -13.59%. The fund's maximum drawdown began in January 2022 and has lasted 1 month, reaching its lowest point during February 2022. During this period, the index's maximum drawdown was -7.46%. The Manager has delivered these returns with 0.71% 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 0.83 since inception. The fund has provided positive monthly returns 81% of the time in rising markets and 23% of the time during periods of market decline, contributing to an up-capture ratio since inception of 59% and a down-capture ratio of 76%. |
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Performance Report: Paragon Australian Long Short Fund
16 Mar 2022 - FundMonitors.com
The Paragon Australian Long Short Fund has a track record of 9 years and has outperformed the ASX 200 Total Return Index since inception in March 2013, providing investors with an annualised return of 11.26% compared with the index's...
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16 Mar 2022 - Performance Report: Paragon Australian Long Short Fund
By: FundMonitors.com
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| Fund Overview | Paragon's unique investment style, comprising thematic led idea generation followed with an in depth research effort, results in a concentrated portfolio of high conviction stocks. Conviction in bottom up analysis drives the investment case and ultimate position sizing: * Both quantitative analysis - probability weighted high/low/base case valuations - and qualitative analysis - company meetings, assessing management, the business model, balance sheet strength and likely direction of returns - collectively form Paragon's overall view for each investment case. * Paragon will then allocate weighting to each investment opportunity based on a risk/reward profile, capped to defined investment parameters by market cap, which are continually monitored as part of Paragon's overall risk management framework. The objective of the Paragon Fund is to produce absolute returns in excess of 10% p.a. over a 3-5 year time horizon with a low correlation to the Australian equities market. |
| Manager Comments | On a calendar year basis, the fund has only experienced a negative annual return once in the 9 years since its inception. Over the past 12 months, the fund's largest drawdown was -27.05% vs the index's -6.35%, and since inception in March 2013 the fund's largest drawdown was -45.11% vs the index's maximum drawdown over the same period of -26.75%. The fund's maximum drawdown began in January 2018 and lasted 2 years and 7 months, reaching its lowest point during March 2020. The fund had completely recovered its losses by August 2020. The Manager has delivered these returns with 11.37% 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 0.49 since inception. The fund has provided positive monthly returns 68% of the time in rising markets and 46% of the time during periods of market decline, contributing to an up-capture ratio since inception of 90% and a down-capture ratio of 82%. |
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Performance Report: Cyan C3G Fund
16 Mar 2022 - FundMonitors.com
The Cyan C3G Fund has a track record of 7 years and 7 months and has outperformed the ASX Small Ordinaries Total Return Index since inception in August 2014, providing investors with an annualised return of 12.29% compared with the index's...
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16 Mar 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 are one or more of: 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 the Fund's performance. However, companies in which the Fund invests may be leveraged. |
| Manager Comments | The Cyan C3G Fund has a track record of 7 years and 7 months and has outperformed the ASX Small Ordinaries Total Return Index since inception in August 2014, providing investors with an annualised return of 12.29% compared with the index's return of 7.99% over the same period. On a calendar year basis, the fund has only experienced a negative annual return once in the 7 years and 7 months since its inception. Over the past 12 months, the fund's largest drawdown was -18.68% vs the index's -9.15%, and since inception in August 2014 the fund's largest drawdown was -36.45% vs the index's maximum drawdown over the same period of -29.12%. The fund's maximum drawdown began in October 2019 and lasted 1 year and 4 months, reaching its lowest point during March 2020. The fund had completely recovered its losses by February 2021. The Manager has delivered these returns with 0.26% 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 0.71 since inception. The fund has provided positive monthly returns 85% of the time in rising markets and 39% of the time during periods of market decline, contributing to an up-capture ratio since inception of 67% and a down-capture ratio of 64%. |
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Performance Report: Bennelong Long Short Equity Fund
16 Mar 2022 - FundMonitors.com
The Bennelong Long Short Equity Fund has a track record of 20 years and 1 month and has outperformed the ASX 200 Total Return Index since inception in February 2002, providing investors with an annualised return of 13.11% compared with the...
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16 Mar 2022 - Performance Report: Bennelong Long Short Equity Fund
By: FundMonitors.com
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| Fund Overview | In a typical environment the Fund will hold around 70 stocks comprising 35 pairs. Each pair contains one long and one short position each of which will have been thoroughly researched and are selected from the same market sector. Whilst in an ideal environment each stock's position will make a positive return, it is the relative performance of the pair that is important. As a result the Fund can make positive returns when each stock moves in the same direction provided the long position outperforms the short one in relative terms. However, if neither side of the trade is profitable, strict controls are required to ensure losses are limited. The Fund uses no derivatives and has no currency exposure. The Fund has no hard stop loss limits, instead relying on the small average position size per stock (1.5%) and per pair (3%) to limit exposure. Where practical pairs are always held within the same sector to limit cross sector risk, and positions can be held for months or years. The Bennelong Market Neutral Fund, with same strategy and liquidity is available for retail investors as a Listed Investment Company (LIC) on the ASX. |
| Manager Comments | The Bennelong Long Short Equity Fund has a track record of 20 years and 1 month and has outperformed the ASX 200 Total Return Index since inception in February 2002, providing investors with an annualised return of 13.11% compared with the index's return of 8.1% over the same period. Over the past 12 months, the fund's largest drawdown was -20.36% vs the index's -6.35%, and since inception in February 2002 the fund's largest drawdown was -27.86% vs the index's maximum drawdown over the same period of -47.19%. The fund's maximum drawdown began in September 2020 and has lasted 1 year and 5 months, reaching its lowest point during February 2022. During this period, the index's maximum drawdown was -15.05%. The Manager has delivered these returns with 0.09% 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 0.76 since inception. The fund has provided positive monthly returns 64% of the time in rising markets and 62% of the time during periods of market decline, contributing to an up-capture ratio since inception of 5% and a down-capture ratio of -128%. |
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Performance Report: Bennelong Twenty20 Australian Equities Fund
15 Mar 2022 - FundMonitors.com
The Bennelong Twenty20 Australian Equities Fund returned -1.86% in February, a difference of -4% compared with the ASX 200 Total Return Index which rose by +2.14%. The fund has outperformed the index since inception in November 2009,...
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15 Mar 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 4 months and has outperformed the ASX 200 Total Return Index since inception in November 2009, providing investors with an annualised return of 10.64% compared with the index's return of 7.91% over the same period. Over the past 12 months, the fund's largest drawdown was -10.54% vs the index's -6.35%, 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 0.55% 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 0.65 since inception. The fund has provided positive monthly returns 95% 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 120% and a down-capture ratio of 97%. |
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Performance Report: Surrey Australian Equities Fund
14 Mar 2022 - FundMonitors.com
The Surrey Australian Equities Fund has a track record of 3 years and 9 months and has provided investors with an annualised return of 6.98% since its inception in June 2018. Since inception in the months where the market was positive, the...
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14 Mar 2022 - Performance Report: Surrey Australian Equities Fund
By: FundMonitors.com
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| Fund Overview | The Investment Manager follows a defined investment process which is underpinned by detailed bottom up fundamental analysis, overlayed with sectoral and macroeconomic research. This is combined with an extensive company visitation program where we endeavour to meet with company management and with other stakeholders such as suppliers, customers and industry bodies to improve our information set. Surrey Asset Management defines its investment process as Qualitative, Quantitative and Value Latencies (QQV). In essence, the Investment Manager thoroughly researches an investment's qualitative and quantitative characteristics in an attempt to find value latencies not yet reflected in the share price and then clearly defines a roadmap to realisation of those latencies. Developing this roadmap is a key step in the investment process. By articulating a clear pathway as to how and when an investment can realise what the Investment Manager sees as latent value, defines the investment proposition and lessens the impact of cognitive dissonance. This is undertaken with a philosophical underpinning of fact-based investing, transparency, authenticity and accountability. |
| Manager Comments | The Surrey Australian Equities Fund has a track record of 3 years and 9 months and therefore comparison over all market conditions and against its peers is limited. However, the fund has underperformed the ASX 200 Total Return Index since inception in June 2018, providing investors with an annualised return of 6.98% compared with the index's return of 8.33% over the same period. On a calendar year basis, the fund hasn't experienced any negative annual returns in the 3 years and 9 months since its inception. Over the past 12 months, the fund's largest drawdown was -15.32% vs the index's -6.35%, and since inception in June 2018 the fund's largest drawdown was -26.75% vs the index's maximum drawdown over the same period of -26.75%. The fund's maximum drawdown began in February 2020 and lasted 6 months, reaching its lowest point during March 2020. The fund had completely recovered its losses by August 2020. The Manager has delivered these returns with 4.87% more volatility than the index, contributing to a Sharpe ratio which has fallen below 1 three times over the past three years and which currently sits at 0.4 since inception. The fund has provided positive monthly returns 81% 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 110% and a down-capture ratio of 112%. |
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Performance Report: Bennelong Emerging Companies Fund
14 Mar 2022 - FundMonitors.com
The Bennelong Emerging Companies Fund returned -0.49% in February, a difference of -2.63% compared with the ASX 200 Total Return Index which rose by +2.14%. The fund has outperformed the index since inception in November 2017, providing...
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14 Mar 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 4 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 24.45% compared with the index's return of 8.27% over the same period. On a calendar year basis, the fund has experienced a negative annual return on 2 occasions in the 4 years and 4 months since its inception. Over the past 12 months, the fund's largest drawdown was -11.38% vs the index's -6.35%, 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 14.98% 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 0.86 since inception. The fund has provided positive monthly returns 81% 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 286% and a down-capture ratio of 117%. |
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Performance Report: ASCF High Yield Fund
11 Mar 2022 - FundMonitors.com
The ASCF High Yield Fund rose by +0.5% in February, an outperformance of +1.71% compared with the Bloomberg AusBond Composite 0+ Yr Index which fell by -1.21%. The fund has outperformed the index since inception in March 2017, providing...
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11 Mar 2022 - Performance Report: ASCF High Yield Fund
By: FundMonitors.com
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| Fund Overview | Does not require full valuations on loans <65% LVR. Borrowing rates are from 12% per annum on 1st mortgage loans and 16% per annum on 2nd mortgage/caveat loans. Pays investors between 5.55% - 6.25% per annum depending on their investment term. |
| Manager Comments | The ASCF High Yield Fund has a track record of 5 years and has outperformed the Bloomberg AusBond Composite 0+ Yr Index since inception in March 2017, providing investors with an annualised return of 8.73% compared with the index's return of 2.73% over the same period. On a calendar year basis, the fund hasn't experienced any negative annual returns in the 5 years since its inception. The fund hasn't had any negative monthly returns and therefore hasn't experienced a drawdown. Since the fund's inception, the index's largest drawdown was -5.39%. The Manager has delivered these returns with 3.37% less volatility than the index, contributing to a Sharpe ratio which has consistently remained above 1 over the past five years and which currently sits at 23.78 since inception. 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 87% and a down-capture ratio of -92%. |
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Performance Report: Airlie Australian Share Fund
11 Mar 2022 - FundMonitors.com
Over the past 12 months, the Airlie Australian Share Fund has risen by +19.37% compared with the ASX 200 Total Return Index which has returned +10.19%, for a difference of +9.18%. The fund has outperformed the index since inception in June...
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11 Mar 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 3 years and 9 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 11.71% compared with the index's return of 8.33% over the same period. On a calendar year basis, the fund hasn't experienced any negative annual returns in the 3 years and 9 months since its inception. Over the past 12 months, the fund's largest drawdown was -6.79% vs the index's -6.35%, 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 0.35% less volatility than the index, contributing to a Sharpe ratio which has fallen below 1 two times over the past three years and which currently sits at 0.75 since inception. The fund has provided positive monthly returns 97% of the time in rising markets and 14% of the time during periods of market decline, contributing to an up-capture ratio since inception of 109% and a down-capture ratio of 92%. |
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