NEWS
Performance Report: 4D Global Infrastructure Fund
11 Mar 2022 - FundMonitors.com
The 4D Global Infrastructure Fund returned -1.76% in February, a difference of -0.56% compared with the S&P Global Infrastructure TR (AUD) Index which fell by -1.2%. The fund has outperformed the index since inception in March 2016,...
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11 Mar 2022 - Performance Report: 4D Global Infrastructure Fund
By: FundMonitors.com
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| Fund Overview | The fund is managed as a single portfolio including regulated utilities in gas, electricity and water, transport infrastructure such as airports, ports, road and rail, as well as communication assets such as the towers and satellite sectors. The portfolio is intended to have exposure to both developed and emerging market opportunities, with country risk assessed internally before any investment is considered. The maximum absolute position of an individual stock is 7% of the fund. |
| Manager Comments | The 4D Global Infrastructure Fund has a track record of 6 years and has outperformed the S&P Global Infrastructure TR (AUD) Index since inception in March 2016, providing investors with an annualised return of 9.33% compared with the index's return of 8.3% over the same period. On a calendar year basis, the fund has experienced a negative annual return on 2 occasions in the 6 years since its inception. Over the past 12 months, the fund's largest drawdown was -3.9% vs the index's -1.2%, and since inception in March 2016 the fund's largest drawdown was -19.77% vs the index's maximum drawdown over the same period of -24.67%. The fund's maximum drawdown began in February 2020 and has lasted 2 years, reaching its lowest point during September 2020. The Manager has delivered these returns with 0.53% less 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 0.73 since inception. The fund has provided positive monthly returns 95% 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 101% and a down-capture ratio of 95%. |
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Performance Report: Bennelong Concentrated Australian Equities Fund
10 Mar 2022 - FundMonitors.com
Over the past 12 months, the Bennelong Concentrated Australian Equities Fund has risen by +3.15%. The fund has outperformed the ASX 200 Total Return Index since inception in February 2009, providing investors with an annualised return of...
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10 Mar 2022 - Performance Report: Bennelong Concentrated Australian Equities Fund
By: FundMonitors.com
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| Manager Comments | The Bennelong Concentrated Australian Equities Fund has a track record of 13 years and 1 month and has outperformed the ASX 200 Total Return Index since inception in February 2009, providing investors with an annualised return of 15.6% compared with the index's return of 10.02% over the same period. The Manager has delivered these returns with 1.8% 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 0.89 since inception. The fund has provided positive monthly returns 90% 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 143% and a down-capture ratio of 93%. |
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Performance Report: L1 Capital Long Short Fund (Monthly Class)
9 Mar 2022 - FundMonitors.com
The L1 Capital Long Short Fund (Monthly Class) rose by +7% in February, an outperformance of +4.86% compared with the ASX 200 Total Return Index which rose by +2.14%. The fund has outperformed the index since inception in September 2014,...
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9 Mar 2022 - Performance Report: L1 Capital Long Short Fund (Monthly Class)
By: FundMonitors.com
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| Fund Overview | L1 Capital uses a combination of discretionary and quantitative methods to identify securities with the potential to provide attractive risk-adjusted returns. The discretionary element of the investment process entails regular meetings with company management and other stakeholders as well as frequent reading and analysis of annual reports and other relevant publications and communications. The quantitative element of the investment process makes use of bottom-up research to maintain financial models such as the Discounted Cashflow model (DCF) which is used as a means of assessing the intrinsic value of a given security. Stocks with the best combination of qualitative factors and valuation upside are used as the basis for portfolio construction. The process is iterative and as business trends, industry structure, management quality or valuation changes, stock weights are adjusted accordingly. |
| Manager Comments | The L1 Capital Long Short Fund (Monthly Class) has a track record of 7 years and 6 months and has outperformed the ASX 200 Total Return Index since inception in September 2014, providing investors with an annualised return of 23.61% compared with the index's return of 7.37% over the same period. Over the past 12 months, the fund's largest drawdown was -7.21% vs the index's -6.35%, and since inception in September 2014 the fund's largest drawdown was -39.11% vs the index's maximum drawdown over the same period of -26.75%. The fund's maximum drawdown began in February 2018 and lasted 2 years and 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 6.7% 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 1.07 since inception. The fund has provided positive monthly returns 79% of the time in rising markets and 64% of the time during periods of market decline, contributing to an up-capture ratio since inception of 100% and a down-capture ratio of 3%. |
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Performance Report: Bennelong Australian Equities Fund
9 Mar 2022 - FundMonitors.com
The Bennelong Australian Equities Fund has a track record of 13 years and 1 month and has outperformed the ASX 200 Total Return Index since inception in February 2009, providing investors with an annualised return of 13.85% compared with...
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9 Mar 2022 - Performance Report: Bennelong Australian Equities Fund
By: FundMonitors.com
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| Manager Comments | The Bennelong Australian Equities Fund has a track record of 13 years and 1 month and has outperformed the ASX 200 Total Return Index since inception in February 2009, providing investors with an annualised return of 13.85% compared with the index's return of 10.02% over the same period. Over the past 12 months, the fund's largest drawdown was -15.96% vs the index's -6.35%, and since inception in February 2009 the fund's largest drawdown was -24.32% 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 1.34% 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 0.81 since inception. The fund has provided positive monthly returns 91% of the time in rising markets and 18% of the time during periods of market decline, contributing to an up-capture ratio since inception of 135% and a down-capture ratio of 97%. |
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Performance Report: Quay Global Real Estate Fund (Unhedged)
8 Mar 2022 - FundMonitors.com
Over the past 12 months, the Quay Global Real Estate Fund (Unhedged) has risen by +20.78%. The fund has outperformed the index since inception in January 2016, providing investors with an annualised return of 8.92% compared with the...
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8 Mar 2022 - Performance Report: Quay Global Real Estate Fund (Unhedged)
By: FundMonitors.com
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| Fund Overview | The Fund will invest in a number of global listed real estate companies, groups or funds. The investment strategy is to make investments in real estate securities at a price that will deliver a real, after inflation, total return of 5% per annum (before costs and fees), inclusive of distributions over a longer-term period. The Investment Strategy is indifferent to the constraints of any index benchmarks and is relatively concentrated in its number of investments. The Fund is expected to own between 20 and 40 securities, and from time to time up to 20% of the portfolio maybe invested in cash. The Fund is $A un-hedged. |
| Manager Comments | The Manager has delivered these returns with 8.35% less 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 0.69 since inception. The fund has provided positive monthly returns 76% of the time in rising markets and 25% of the time during periods of market decline, contributing to an up-capture ratio since inception of 41% and a down-capture ratio of 56%. The Quay Global Real Estate Fund (Unhedged) returned -4.89% in February, a difference of -6.31% compared with the S&P/ASX 200 A-REIT Index which rose by +1.42%. Over the past 12 months, the fund has risen by +20.78% compared with the index which has returned +23.93%, for a difference of -3.15%. |
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Performance Report: Bennelong Kardinia Absolute Return Fund
8 Mar 2022 - FundMonitors.com
The Bennelong Kardinia Absolute Return Fund has a track record of 15 years and 10 months and has outperformed the ASX 200 Total Return Index since inception in May 2006, providing investors with an annualised return of 8.03% compared with...
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8 Mar 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 Manager has delivered these returns with 6.42% less 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 0.67 since inception. The fund has provided positive monthly returns 86% of the time in rising markets and 33% of the time during periods of market decline, contributing to an up-capture ratio since inception of 17% and a down-capture ratio of 52%. The Bennelong Kardinia Absolute Return Fund returned -1.72% in February, a difference of -3.86% compared with the ASX 200 Total Return Index which rose by +2.14%. Over the past 12 months, the fund has returned -3.08% compared with the index which has returned +10.19%, for a difference of -13.27%. |
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Performance Report: DS Capital Growth Fund
7 Mar 2022 - FundMonitors.com
Over the past 12 months, the DS Capital Growth Fund has risen by +3.45% and since inception in January 2013 has outperformed the ASX 200 Total Return Index, providing investors with an annualised return of 14.56% compared with the index's...
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7 Mar 2022 - Performance Report: DS Capital Growth Fund
By: FundMonitors.com
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| Fund Overview | The investment team looks for industrial businesses that are simple to understand, generally avoiding large caps, pure mining, biotech and start-ups. They also look for: - Access to management; - Businesses with a competitive edge; - Profitable companies with good margins, organic growth prospects, strong market position and a track record of healthy dividend growth; - Sectors with structural advantage and barriers to entry; - 15% p.a. pre-tax compound return on each holding; and - A history of stable and predictable cash flows that DS Capital can understand and value. |
| Manager Comments | The DS Capital Growth Fund has a track record of 9 years and 2 months and has outperformed the ASX 200 Total Return Index since inception in January 2013, providing investors with an annualised return of 14.56% compared with the index's return of 9.07% over the same period. The Manager has delivered these returns with 2.01% less volatility than the index, contributing to a Sharpe ratio which currently sits at 1.13 since inception. The fund has provided positive monthly returns 89% 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 68% and a down-capture ratio of 51%. |
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Performance Report: AIM Global High Conviction Fund
4 Mar 2022 - FundMonitors.com
Over the past 12 months, the AIM Global High Conviction Fund has risen by +19.25% compared with the Global Equity Index which has returned +14.14%, for a difference of +5.11%. The fund has outperformed the index since inception in July...
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4 Mar 2022 - Performance Report: AIM Global High Conviction Fund
By: FundMonitors.com
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| Fund Overview | AIM are 'business-first' rather than 'security-first' investors, and see themselves as part owners of the businesses they invest in. AIM look for the following characteristics in the businesses they want to own: - Strong competitive advantages that enable consistently high returns on capital throughout an economic cycle, combined with the ability to reinvest surplus capital at high marginal returns. - A proven ability to generate and grow cash flows, rather than accounting based earnings. - A strong balance sheet and sensible capital structure to reduce the risk of failure when the economic cycle ends or an unexpected crisis occurs. - Honest and shareholder-aligned management teams that understand the principles behind value creation and have a proven track record of capital allocation. They look to buy businesses that meet these criteria at attractive valuations, and then intend to hold them for long periods of time. AIM intend to own between 15 and 25 businesses at any given point. They do not seek to generate returns by constantly having to trade in and out of businesses. Instead, they believe the Fund's long-term return will approximate the underlying economics of the businesses they own. They are bottom-up, fundamental investors. They are cognizant of macro-economic conditions and geo-political risks, however, they do not construct the Fund to take advantage of such events. AIM intend for the portfolio to be between 90% and 100% invested in equities. AIM do not engage in shorting, nor do they use leverage to enhance returns. The Fund's investable universe is global, and AIM look for businesses that have a market capitalisation of at least $7.5bn to guarantee sufficient liquidity to investors. |
| Manager Comments | The AIM Global High Conviction Fund has a track record of 2 years and 8 months and therefore comparison over all market conditions and against its peers is limited. However, the fund has outperformed the Global Equity Index since inception in July 2019, providing investors with an annualised return of 14.08% compared with the index's return of 11.68% over the same period. The Manager has delivered these returns with 0.68% more volatility than the index, contributing to a Sharpe ratio for performance over the past 12 months of 1.37 and for performance since inception of 1.16. The fund has provided positive monthly returns 90% of the time in rising markets and 0% of the time during periods of market decline, contributing to an up-capture ratio since inception of 112% and a down-capture ratio of 98%. |
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Performance Report: Laureola Australia Feeder Fund
28 Feb 2022 - FundMonitors.com
The Laureola Master Fund returned -0.06% in January, an outperformance of +0.96% compared with the Bloomberg AusBond Composite 0+ Yr Index which fell by -1.02%. The fund has outperformed the index since inception in May 2013, providing...
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28 Feb 2022 - Performance Report: Laureola Australia Feeder Fund
By: FundMonitors.com
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| Fund Overview | Life Settlements are resold life insurance policies and can be thought of as a form of finance extended to an individual backed by the person's life insurance policy. This financing is repaid upon maturity by collecting the death benefit from the insurance company. Risk mitigation measures implemented by Laureola include science-driven due diligence of policies, active monitoring of insured through a vertically integrated operation, and investor aligned fund design. |
| Manager Comments | The Laureola Master Fund has a track record of 8 years and 9 months and has outperformed the Bloomberg AusBond Composite 0+ Yr Index since inception in May 2013, providing investors with an annualised return of 14.96% compared with the index's return of 3.55% over the same period. On a calendar year basis, the fund has only experienced a negative annual return once in the 8 years and 9 months since the start of its track record. Over the past 12 months, the fund's largest drawdown was -0.06% vs the index's -5.02%, and since inception in May 2013 the fund's largest drawdown was -4.9% vs the index's maximum drawdown over the same period of -5.31%. The fund's maximum drawdown began in December 2018 and lasted 10 months, reaching its lowest point during December 2018. The fund had completely recovered its losses by October 2019. The Manager has delivered these returns with 2.06% more 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 2.4 since inception. The fund has provided positive monthly returns 97% of the time in rising markets and 97% of the time during periods of market decline, contributing to an up-capture ratio since inception of 160% and a down-capture ratio of -249%. |
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Performance Report: Delft Partners Global High Conviction Strategy
28 Feb 2022 - FundMonitors.com
The Delft Partners Global High Conviction Strategy returned -0.78% in January, an outperformance of +1.04% compared with the Global Equity Index which fell by -1.82%. The strategy has outperformed the index since inception in August 2011,...
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28 Feb 2022 - Performance Report: Delft Partners Global High Conviction Strategy
By: FundMonitors.com
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| Fund Overview | The quantitative model is proprietary and designed in-house. The critical elements are Valuation, Momentum, and Quality (VMQ) and every stock in the global universe is scored and ranked. Verification of the quant model scores is then cross checked by fundamental analysis in which a company's Accounting policies, Governance, and Strategic positioning is evaluated. The manager believes strategy is suited to investors seeking returns from investing in global companies, diversification away from Australia and a risk aware approach to global investing. It should be noted that this is a strategy in an IMA format and is not offered as a fund. An IMA solution can be a more cost and tax effective solution, for clients who wish to own fewer stocks in a long only strategy. |
| Manager Comments | The Delft Partners Global High Conviction Strategy has a track record of 10 years and 6 months and has outperformed the Global Equity Index since inception in August 2011, providing investors with an annualised return of 15.7% compared with the index's return of 14.59% over the same period. On a calendar year basis, the strategy has experienced a negative annual return on 3 occasions in the 10 years and 6 months since the start of its track record. Over the past 12 months, the strategy's largest drawdown was -4.36% vs the index's -3.04%, and since inception in August 2011 the strategy's largest drawdown was -13.33% vs the index's maximum drawdown over the same period of -13.19%. The strategy's maximum drawdown began in February 2020 and lasted 1 year, reaching its lowest point during July 2020. The strategy had completely recovered its losses by February 2021. The Manager has delivered these returns with 1.46% 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 1.16 since inception. The strategy has provided positive monthly returns 88% 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 100% and a down-capture ratio of 93%. |
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