Antipodes Asia Income Fund

Performance Summary as at March 2024

The Antipodes Asia Income Fund has a track record of 12 years and 7 months and has outperformed the Bloomberg AusBond Composite 0+ Yr benchmark since inception in September 2011, providing investors with an annualised return of 6.25% compared with the benchmark's return of 3.17% over the same period.

On a calendar year basis, the fund has experienced a negative annual return on 3 occasions in the 12 years and 7 months since its inception. Over the past 12 months, the fund's largest drawdown was -5.71% vs the index's -5.2%, and since inception in September 2011 the fund's largest drawdown was -33.45% vs the index's maximum drawdown over the same period of -13.2%. The fund's maximum drawdown began in September 2021 and has so far lasted 2 years and 6 months, reaching its lowest point during October 2022.

The Manager has delivered these returns with 3.89% 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 0.56 since inception. The fund has provided positive monthly returns 72% 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 92% and a down-capture ratio of 18%.