Index Used: | All Countries World Index (AUD) | Discretionary/Quantitative: | Combination |
Peer Group: | Equity Long - Large Cap - Global | FUM (millions): | AU$ 115.9m |
Investment Style: | Growth | Fund Inception Date: | May 2015 |
Geographic Mandate: | Global | Latest Return Date: | February 2024 |
Investor Type: | Wholesale & Retail | Status: | Open |
Minimum Investment: | AU$ 25,000 | Investment Frequency: | Daily |
The Bell Global Equities Fund invests in a globally diversified portfolio of listed shares. The Fund employs a long only investment strategy with a fundamental bottom up approach to stock picking. The Fund invests in a portfolio of global equity securities and aims to generally follow a strategic asset allocation guideline of 0 to 10% in cash and 90 to 100% in global equity securities. The Fund may hold derivatives if the RE considers doing so the most appropriate way to gain an exposure to underlying securities.
Management Fee: | 0.76% | Performance Fee: | 0% |
Buy Spread: | 0.14% | Sell spread: | 14% |
High Water Mark: | Hurdle: | N/A |
Offshore/Onshore: | Onshore | Fund Structure: | Unit Trust |
Share Classes: | AU$ | Trustee/RE: | Bell Asset Management |
Administrator: | Bell Asset Management | Prime Broker: | N/A |
Custodian: | National Australia Bank Limited | Legal: | N/A |
The Bell Global Equities Fund (Platform Class) has a track record of 7 years and 8 months and has underperformed the All Countries World (AUD) benchmark since inception in July 2016, providing investors with an annualised return of 12.31% compared with the benchmark's return of 12.7% over the same period.
The Manager has delivered these returns with 0.74% more volatility than the benchmark, contributing to a Sharpe ratio which has fallen below 1 four times over the past five years and which currently sits at 0.95 since inception. The fund has provided positive monthly returns 91% of the time in rising markets and 17% of the time during periods of market decline, contributing to an up-capture ratio since inception of 99% and a down-capture ratio of 101%.
The Bell Global Equities Fund (Platform Class) rose by +3.91% in February, a difference of -1.41% compared with the All Countries World (AUD) benchmark which rose by +5.32%. Over the past 12 months, the fund's best monthly return was +5.07% compared with the benchmark's best return of +5.32%, and its worst monthly return was -4.37% vs the benchmark's worst return over the same period of -3.27%.
Year | Jan % | Feb % | Mar % | Apr % | May % | Jun % | Jul % | Aug % | Sep % | Oct % | Nov % | Dec % | YTD % |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2024 | 3.75 | 3.91 | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | 7.81 |
2023 | 2.80 | 0.32 | 5.07 | 3.62 | -0.52 | 2.07 | 0.12 | 1.97 | -4.37 | -1.87 | 3.22 | 2.02 | 15.02 |
2022 | -4.14 | -5.45 | -2.18 | -2.62 | -1.79 | -2.61 | 7.68 | -4.35 | -3.59 | 7.21 | 3.53 | -4.77 | -13.33 |
2021 | -1.78 | -0.01 | 6.87 | 4.87 | 0.54 | 4.90 | 6.73 | 2.70 | -4.34 | 2.14 | 3.60 | 2.87 | 32.50 |
2020 | 5.06 | -3.82 | -7.10 | 3.77 | 4.11 | -2.34 | 2.43 | 0.47 | 0.98 | -1.80 | 5.38 | -0.65 | 5.82 |
2019 | 3.37 | 5.59 | 3.02 | 3.81 | -2.42 | 4.67 | 2.42 | 1.80 | 0.59 | -0.40 | 4.68 | -1.74 | 28.10 |
2018 | 1.62 | -0.34 | 0.16 | 2.24 | 0.74 | 3.76 | 2.26 | 5.00 | 0.55 | -5.10 | -0.56 | -3.17 | 6.95 |
2017 | -2.12 | 2.18 | 2.22 | 4.51 | 3.62 | -3.86 | -2.51 | 0.63 | 1.99 | 3.57 | 4.40 | -1.52 | 13.41 |
2016 | NA | NA | NA | NA | NA | NA | 2.56 | -0.11 | -3.23 | -2.97 | 4.35 | 3.58 | 3.99 |
Only seven years of data shown. Click here to view all data.
Over the past 12 months, the fund has risen by +20.24% compared with the benchmark which has returned +27.56%, for a difference of -7.32%. Since inception in July 2016, the fund has returned +12.31% per annum, a difference of -0.39% relative to the benchmark which has returned +12.7% on an annualised basis over the same period.
On a cumulative basis (assuming reinvestment of distributions), $100 invested since inception would have become $243. The same amount invested in the benchmark over the same period would have become $250.
The fund's returns over the past 12 months have been achieved with a volatility of 9.14% vs the index's 9.78%. The annualised volatility of the fund's returns since inception in July 2016 is 11.51% vs the index's 10.77%. Over all other periods, the fund's returns have been more volatile than the benchmark.
The fund's Sharpe ratio has ranged from a high of 1.64 for performance over the most recent 12 months to a low of 0.52 over the latest 24 months, and is 0.95 for performance since inception. By contrast, the All Countries World (AUD) Index's Sharpe for performance since July 2016 is 1.04.
Since inception in July 2016 in the months where the market was positive, the fund has provided positive returns 91% of the time, contributing to an up-capture ratio for returns since inception of 98.79%. Over all other periods, the fund's up-capture ratio has ranged from a high of 110.39% over the most recent 36 months to a low of 71.23% over the latest 12 months. An up-capture ratio greater than 100% indicates that, on average, the fund has outperformed in the market's positive months.
Since inception in July 2016 in the months where the market was negative, the fund has provided positive returns 17% of the time, contributing to a down-capture ratio for returns since inception of 101.32%. Over all other periods, the fund's down-capture ratio has ranged from a high of 110.42% over the most recent 36 months to a low of 69.31% over the latest 12 months. A down-capture ratio less than 100% indicates that, on average, the fund has outperformed in the market's negative months.
The fund's Sortino ratio (which excludes volatility in positive months) has ranged from a high of 2.77 for performance over the most recent 12 months to a low of 0.76 over the latest 24 months, and is 1.5 for performance since inception. By contrast, the All Countries World (AUD) Index's Sortino for performance since July 2016 is 1.62.
Over the past 12 months, the fund's largest drawdown was -6.16% vs the index's -6.22%, and since inception in July 2016 the fund's largest drawdown was -18% vs the index's maximum drawdown over the same period of -16.02%.
The performance of the Bell Global Equities Fund (Platform Class) ranked it in the first or second quintile for all KPIs over 3 & 7 years. Over 5 years the fund ranked in the second quintile for all KPIs except Total Return, while it ranked in the second quintile for Volatility, Sortino and Downside Deviation over 1 year.
Over the past 12 months, the fund has risen by +20.24% compared with the peer group which has returned an average of +23.03%, for a difference of -2.79%.
The fund's returns over the past 12 months have been achieved with a volatility of 9.14% vs the peer group's average volatility of 9.64%. The annualised volatility of the fund's returns since inception in July 2016 is 11.51% vs the peer group's 11.58%. Over all other periods, the fund's volatility relative to the peer group has been varied.