Tyndall Australian Share Income Fund

Performance Summary as at March 2024

The Tyndall Australian Share Income Fund has a track record of 15 years and 5 months and has underperformed the ASX 200 Total Return benchmark since inception in November 2008, providing investors with an annualised return of 8.78% compared with the benchmark's return of 9.05% over the same period.

On a calendar year basis, the fund has experienced a negative annual return on 4 occasions in the 15 years and 5 months since its inception. Over the past 12 months, the fund's largest drawdown was -7.06% vs the index's -7.19%, and since inception in November 2008 the fund's largest drawdown was -31.3% 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 4 months, reaching its lowest point during March 2020. The fund had completely recovered its losses by April 2021.

The Manager has delivered these returns with 0.33% 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 0.51 since inception. The fund has provided positive monthly returns 94% of the time in rising markets and 9% of the time during periods of market decline, contributing to an up-capture ratio since inception of 84% and a down-capture ratio of 98%.