Spatium Small Companies Fund

Performance Summary as at March 2024

The Spatium Small Companies Fund has a track record of 5 years and 9 months and has outperformed the ASX Small Ordinaries Total Return benchmark since inception in July 2018, providing investors with an annualised return of 7.68% compared with the benchmark's return of 4.37% over the same period.

On a calendar year basis, the fund has only experienced a negative annual return once in the 5 years and 9 months since its inception. Over the past 12 months, the fund's largest drawdown was -17.37% vs the index's -10.46%, and since inception in July 2018 the fund's largest drawdown was -27.39% vs the index's maximum drawdown over the same period of -29.12%. The fund's maximum drawdown began in January 2022 and has so far lasted 2 years and 2 months, reaching its lowest point during June 2022. During this period, the index's maximum drawdown was -24.24%.

The Manager has delivered these returns with 0.34% 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 0.39 since inception. The fund has provided positive monthly returns 82% of the time in rising markets and 20% of the time during periods of market decline, contributing to an up-capture ratio since inception of 93% and a down-capture ratio of 90%.