Tyndall Australian Share Concentrated Fund

Performance Summary as at December 2021

The Tyndall Australian Share Concentrated Fund has a track record of 11 years and 8 months and has outperformed the ASX 200 Total Return benchmark since inception in May 2010, providing investors with an annualised return of 8.36% compared with the benchmark's return of 8.29% over the same period.

On a calendar year basis, the fund has experienced a negative annual return on 3 occasions in the 11 years and 8 months since its inception. Over the past 12 months, the fund's largest drawdown was -5.59% vs the index's -2.48%, and since inception in May 2010 the fund's largest drawdown was -33.17% vs the index's maximum drawdown over the same period of -26.75%. The fund's maximum drawdown began in December 2019 and lasted 1 year and 5 months, reaching its lowest point during March 2020. The fund had completely recovered its losses by May 2021.

The Manager has delivered these returns with 1.47% 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 0.48 since inception. The fund has provided positive monthly returns 92% of the time in rising markets and 12% of the time during periods of market decline, contributing to an up-capture ratio since inception of 103% and a down-capture ratio of 101%.