Index Used: | ASX 200 Total Return | Discretionary/Quantitative: | Discretionary |
Peer Group: | Equity Alternative - Australia | FUM (millions): | AU$ 65.01m |
Investment Style: | Blend | Fund Inception Date: | March 2005 |
Geographic Mandate: | Australia | Latest Return Date: | February 2024 |
Investor Type: | Wholesale & Retail | Status: | Open |
Minimum Investment: | AU$ 10,000 | Investment Frequency: | Daily |
Management Fee: | 1.5% | Performance Fee: | 20% |
Buy Spread: | 0.3% | Sell spread: | 0.3% |
High Water Mark: | No | Hurdle: | N/A |
Offshore/Onshore: | Onshore | Fund Structure: | Unit Trust |
Share Classes: | AU$ | Trustee/RE: | Fidante Partners Limited |
Administrator: | Fidante Partners | Prime Broker: | N/A |
Custodian: | Citibank | Legal: | Challenger Limited Legal Counsel |
The NovaPort Microcap Fund has a track record of 19 years and has outperformed the ASX 200 Total Return benchmark since inception in March 2005, providing investors with an annualised return of 8.79% compared with the benchmark's return of 7.76% over the same period.
The Manager has delivered these returns with 2.13% more volatility than the benchmark, contributing to a Sharpe ratio which has fallen below 1 five times over the past five years and which currently sits at 0.42 since inception. The fund has provided positive monthly returns 79% of the time in rising markets and 34% of the time during periods of market decline, contributing to an up-capture ratio since inception of 46% and a down-capture ratio of 92%.
The NovaPort Microcap Fund rose by +0.89% in February, an outperformance of +0.1% compared with the ASX 200 Total Return benchmark which rose by +0.79%. Over the past 12 months, the fund's best monthly return was +6.1% compared with the benchmark's best return of +7.26%, and its worst monthly return was -3.45% vs the benchmark's worst return over the same period of -3.78%.
Year | Jan % | Feb % | Mar % | Apr % | May % | Jun % | Jul % | Aug % | Sep % | Oct % | Nov % | Dec % | YTD % |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2024 | -1.21 | 0.89 | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | -0.33 |
2023 | 2.90 | 0.95 | -3.31 | 1.41 | -3.38 | 1.51 | 0.32 | 0.21 | -1.15 | -3.45 | 2.40 | 6.10 | 4.12 |
2022 | -5.51 | 0.79 | 3.25 | -3.57 | -7.68 | -8.93 | 12.11 | 0.80 | -4.48 | 1.16 | 3.45 | 0.10 | -9.86 |
2021 | 1.32 | 2.72 | 1.71 | 4.17 | -1.83 | 1.66 | 2.49 | 3.63 | 1.06 | 0.97 | -2.04 | 3.73 | 21.19 |
2020 | 0.81 | -8.33 | -26.18 | 15.50 | 8.15 | -0.80 | 1.80 | 7.97 | 4.68 | -1.01 | 11.73 | 1.77 | 9.47 |
2019 | 1.36 | 3.89 | -0.82 | 1.93 | -1.85 | -0.38 | 6.20 | 0.62 | 5.07 | 3.78 | -2.50 | -0.21 | 18.00 |
2018 | 1.96 | -1.69 | -1.85 | 1.91 | -0.23 | 2.93 | -0.23 | 2.64 | -0.88 | -8.79 | -2.94 | -4.12 | -11.29 |
2017 | 2.07 | -2.38 | 0.35 | -0.74 | -1.74 | 1.46 | 4.73 | 0.50 | 2.15 | 3.17 | 2.40 | 5.19 | 18.20 |
2016 | -2.14 | 0.83 | 3.94 | 2.76 | 2.50 | 0.89 | 2.73 | 5.98 | 2.99 | 0.61 | -1.28 | 2.05 | 23.86 |
2015 | 2.24 | 7.00 | -1.13 | -3.30 | 1.46 | -2.43 | 2.03 | -3.58 | -0.98 | 5.78 | -0.78 | -0.91 | 4.90 |
2014 | 1.50 | 3.52 | 1.83 | -2.99 | -0.41 | -0.90 | 3.72 | 4.76 | -2.41 | -1.40 | -3.05 | 1.74 | 5.65 |
2013 | 5.22 | 2.61 | 0.91 | -6.15 | -2.86 | -5.40 | 9.79 | 3.41 | 4.62 | 1.74 | -2.91 | -2.84 | 7.12 |
2012 | 2.79 | 4.76 | 1.89 | -1.18 | -4.41 | -1.40 | 6.11 | 4.65 | 2.83 | 5.61 | -0.84 | 3.08 | 25.98 |
2011 | 1.53 | 3.65 | -3.66 | 0.18 | -2.29 | -5.43 | 4.42 | -2.76 | -5.91 | 6.34 | -3.18 | -0.52 | -8.17 |
2010 | -0.83 | -3.62 | 3.58 | 0.46 | -2.94 | -2.86 | 2.81 | 2.67 | 10.48 | 4.64 | 0.65 | 10.15 | 26.87 |
2009 | -3.49 | 2.92 | 4.61 | 3.33 | 3.46 | 2.01 | 4.92 | 10.98 | 7.86 | 3.42 | 4.10 | 2.88 | 57.62 |
2008 | -14.94 | -1.28 | -9.13 | 1.54 | -1.06 | -9.30 | -5.49 | 1.05 | -6.97 | -17.59 | -8.22 | 1.19 | -52.73 |
2007 | 4.96 | -0.63 | 2.66 | 2.74 | 4.12 | 4.92 | 1.29 | -4.77 | 1.73 | 3.61 | -3.41 | -0.70 | 17.18 |
2006 | 6.98 | 2.37 | 4.29 | -0.58 | -2.13 | 0.94 | 2.72 | 5.17 | 3.92 | 9.10 | 2.35 | 11.73 | 57.10 |
2005 | NA | NA | -0.46 | -5.91 | 1.14 | 0.50 | 3.39 | 4.59 | 4.17 | -0.42 | 2.28 | -0.08 | 9.11 |
Only seven years of data shown. Click here to view all data.
Over the past 12 months, the fund has returned -0.1% compared with the benchmark which has returned +10.64%, for a difference of -10.74%. Since inception in March 2005, the fund has returned +8.79% per annum, a difference of +1.03% relative to the benchmark which has returned +7.76% on an annualised basis over the same period.
On a cumulative basis (assuming reinvestment of distributions), $100 invested since inception would have become $495. The same amount invested in the benchmark over the same period would have become $413.
The fund's returns over the past 12 months have been achieved with a volatility of 9.23% vs the index's 10.7%. The annualised volatility of the fund's returns since inception in March 2005 is 16.16% vs the index's 14.03%. Over all other periods, the fund's volatility relative to the benchmark has been varied.
The fund's Sharpe ratio has ranged from a high of 0.39 for performance over the most recent 48 months to a low of -0.4 over the latest 12 months, and is 0.42 for performance since inception. By contrast, the ASX 200 Total Return Index's Sharpe for performance since March 2005 is 0.39.
Since inception in March 2005 in the months where the market was positive, the fund has provided positive returns 79% of the time, contributing to an up-capture ratio for returns since inception of 46.23%. Over all other periods, the fund's up-capture ratio has ranged from a high of 89.31% over the most recent 48 months to a low of 52.5% over the latest 12 months.
Since inception in March 2005 in the months where the market was negative, the fund has provided positive returns 34% of the time, contributing to a down-capture ratio for returns since inception of 91.81%. Over all other periods, the fund's down-capture ratio has ranged from a high of 110.06% over the most recent 12 months to a low of 90.31% over the latest 60 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 0.38 for performance over the most recent 48 months to a low of -0.61 over the latest 12 months, and is 0.47 for performance since inception. By contrast, the ASX 200 Total Return Index's Sortino for performance since March 2005 is 0.43.
Over the past 12 months, the fund's largest drawdown was -5.91% vs the index's -7.19%, and since inception in March 2005 the fund's largest drawdown was -56.24% vs the index's maximum drawdown over the same period of -47.19%.
The NovaPort Microcap Fund is not ranked in the first or second quintile for any KPI.
Over the past 12 months, the fund has returned -0.1% compared with the peer group which has returned an average of +6.74%, for a difference of -6.84%.
The fund's returns over the past 12 months have been achieved with a volatility of 9.23% vs the peer group's average volatility of 6.72%. The annualised volatility of the fund's returns since inception in March 2005 is 16.16% vs the peer group's 8.99%. Over all other periods, the fund's returns have been more volatile than the peer group.