Index Used: | Bloomberg AusBond Composite 0+ Yr Index | Discretionary/Quantitative: | Discretionary |
Peer Group: | Fixed Income - Debt | FUM (millions): | AU$ 44.7926m |
Investment Style: | N/A | Fund Inception Date: | March 2017 |
Geographic Mandate: | Australia | Latest Return Date: | March 2024 |
Investor Type: | Retail | Status: | Open |
Minimum Investment: | AU$ 5,000 | Investment Frequency: | Daily |
ASCF Select Income Fund provides short term 1st mortgage loans to a maximum Loan to Valuation Ratio (LVR) of 80% for a maximum term of 12 months on residential and commercial property. Does not require full valuations on loans <65% LVR. Borrowing rates are from 9.95% per annum. Pays investors between 6.25% - 7.25% per annum depending on their investment term.
ASCF Select Income Fund provides short term 1st mortgage loans to a maximum Loan to Valuation Ratio (LVR) of 80% for a maximum term of 12 months on residential and commercial property. Does not require full valuations on loans <65% LVR. Borrowing rates are from 9.95% per annum. Pays investors between 6.25% - 7.25% per annum depending on their investment term.
Management Fee: | % | Performance Fee: | % |
Buy Spread: | 0% | Sell spread: | 0% |
High Water Mark: | Hurdle: | N/A |
Offshore/Onshore: | Onshore | Fund Structure: | Unit Trust |
Share Classes: | AU$ | Trustee/RE: | Australian Secure Capital Fund Ltd |
Administrator: | N/A | Prime Broker: | N/A |
Custodian: | Certane CT Pty Ltd | Legal: | McMahon Clarke |
The ASCF Select Income Fund has a track record of 7 years and 1 month and has outperformed the Bloomberg AusBond Composite 0+ Yr benchmark since inception in March 2017, providing investors with an annualised return of 6.23% compared with the benchmark's return of 1.63% over the same period.
The Manager has delivered these returns with 4.64% less volatility than the benchmark, contributing to a Sharpe ratio which has consistently remained above 1 over the past five years and which currently sits at 10.78 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 44% and a down-capture ratio of -56%.
The ASCF Select Income Fund rose by +0.59% in March, a difference of -0.53% compared with the Bloomberg AusBond Composite 0+ Yr benchmark which rose by +1.12%. Over the past 12 months, the fund's best monthly return was +0.59% compared with the benchmark's best return of +3.01%, and its worst monthly return was +0.47% vs the benchmark's worst return over the same period of -1.95%.
Year | Jan % | Feb % | Mar % | Apr % | May % | Jun % | Jul % | Aug % | Sep % | Oct % | Nov % | Dec % | YTD % |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2024 | 0.58 | 0.55 | 0.59 | NA | NA | NA | NA | NA | NA | NA | NA | NA | 1.73 |
2023 | 0.45 | 0.42 | 0.48 | 0.47 | 0.50 | 0.50 | 0.53 | 0.54 | 0.53 | 0.56 | 0.54 | 0.56 | 6.25 |
2022 | 0.47 | 0.43 | 0.45 | 0.44 | 0.46 | 0.43 | 0.43 | 0.43 | 0.41 | 0.41 | 0.43 | 0.45 | 5.38 |
2021 | 0.53 | 0.47 | 0.52 | 0.51 | 0.52 | 0.50 | 0.51 | 0.51 | 0.49 | 0.50 | 0.47 | 0.48 | 6.18 |
2020 | 0.54 | 0.52 | 0.56 | 0.55 | 0.56 | 0.56 | 0.57 | 0.55 | 0.54 | 0.55 | 0.53 | 0.54 | 6.78 |
2019 | 0.54 | 0.48 | 0.57 | 0.54 | 0.56 | 0.54 | 0.53 | 0.55 | 0.54 | 0.56 | 0.55 | 0.56 | 6.72 |
2018 | 0.45 | 0.48 | 0.44 | 0.59 | 0.48 | 0.51 | 0.56 | 0.57 | 0.53 | 0.54 | 0.54 | 0.57 | 6.44 |
2017 | NA | NA | 0.27 | 0.51 | 0.32 | 0.46 | 0.50 | 0.47 | 0.47 | 0.50 | 0.48 | 0.52 | 4.61 |
Only seven years of data shown. Click here to view all data.
Performance shown is the aggregate return for all investors across all investment terms (3, 6, 12 and 24 months). Redemption notice is 1-3 months depending on investment term.
Over the past 12 months, the fund has risen by +6.64% compared with the benchmark which has returned +1.47%, for a difference of +5.17%. Since inception in March 2017, the fund has returned +6.23% per annum, a difference of +4.6% relative to the benchmark which has returned +1.63% on an annualised basis over the same period.
On a cumulative basis (assuming reinvestment of distributions), $100 invested since inception would have become $153. The same amount invested in the benchmark over the same period would have become $112.
The fund's returns over the past 12 months have been achieved with a volatility of 0.11% vs the index's 5.4%. The annualised volatility of the fund's returns since inception in March 2017 is 0.2% vs the index's 4.84%. Over all other periods, the fund's returns have been consistently less volatile than the benchmark.
The fund's Sharpe ratio has ranged from a high of 37.02 for performance over the most recent 12 months to a low of 8.19 over the latest 36 months, and is 10.78 for performance since inception. By contrast, the Bloomberg AusBond Composite 0+ Yr Index's Sharpe for performance since March 2017 is 0.05.
Since inception in March 2017 in the months where the market was positive, the fund has provided positive returns 100% of the time, contributing to an up-capture ratio for returns since inception of 44.21%. Over all other periods, the fund's up-capture ratio has ranged from a high of 44.36% over the most recent 12 months to a low of 28.17% over the latest 24 months.
Since inception in March 2017 in the months where the market was negative, the fund has provided positive returns 100% of the time, contributing to a down-capture ratio for returns since inception of -55.95%. Over all other periods, the fund's down-capture ratio has ranged from a high of -32.82% over the most recent 36 months to a low of -46.26% over the latest 60 months. A negative down-capture ratio indicates that, on average, the fund delivered positive returns in the months the market fell.
The fund has had too few negative returns returns over the past 12 months for a Sortino ratio to be calculated. The Bloomberg AusBond Composite 0+ Yr Index's Sortino ratio over the same period is 0.04. The Sortino ratio differs from the Sharpe ratio in that it only considers the volatility of negative returns over a particular time period.
Since inception in March 2017, 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 -13.2%.
The performance of the ASCF Select Income Fund ranked it in the first or second quintile for all KPIs over 7 years, while over 5 years the fund ranked in the first or second quintile for all KPIs except Sharpe. Over 3 years, the fund ranked in the first quintile for all KPIs except Total Return and Sharpe, and over 1 year it ranked in the first or second quintile for all KPIs except Total Return.
Over the past 12 months, the fund has risen by +6.64% compared with the peer group which has returned an average of +8.25%, for a difference of -1.61%.
The fund's returns over the past 12 months have been achieved with a volatility of 0.11% vs the peer group's average volatility of 0.48%. The annualised volatility of the fund's returns since inception in March 2017 is 0.2% vs the peer group's 2.24%. Over all other periods, the fund's returns have been consistently less volatile than the peer group.