Frazis Fund

Performance Summary as at March 2024

The Frazis Fund has a track record of 5 years and 9 months and has underperformed the All Countries World (AUD) benchmark since inception in July 2018, providing investors with an annualised return of 0.14% compared with the benchmark's return of 12.28% over the same period.

On a calendar year basis, the fund has experienced a negative annual return on 2 occasions in the 5 years and 9 months since its inception. Over the past 12 months, the fund's largest drawdown was -24.18% vs the index's -6.22%, and since inception in July 2018 the fund's largest drawdown was -75.03% vs the index's maximum drawdown over the same period of -16.02%. The fund's maximum drawdown began in September 2021 and has so far lasted 2 years and 6 months, reaching its lowest point during December 2022.

The Manager has delivered these returns with 26.76% 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 0.16 since inception. The fund has provided positive monthly returns 74% of the time in rising markets and 15% of the time during periods of market decline, contributing to an up-capture ratio since inception of 224% and a down-capture ratio of 174%.