Pendal Total Return Fund

Performance Summary as at August 2021

The Pendal Total Return Fund has a track record of 21 years and has underperformed the All Countries World (AUD) benchmark since inception in September 2000, providing investors with an annualised return of 2.25% compared with the benchmark's return of 4.81% over the same period.

On a calendar year basis, the fund has experienced a negative annual return on 4 occasions in the 21 years since its inception. Over the past 12 months, the fund's largest drawdown was -4.79% vs the index's -0.57%, and since inception in September 2000 the fund's largest drawdown was -23.3% vs the index's maximum drawdown over the same period of -47.44%. The fund's maximum drawdown began in February 2018 and has so far lasted 3 years and 6 months, reaching its lowest point during February 2021. During this period, the index's maximum drawdown was -13.21%.

The Manager has delivered these returns with 6.97% less 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 -0.26 since inception. The fund has provided positive monthly returns 74% of the time in rising markets and 57% of the time during periods of market decline, contributing to an up-capture ratio since inception of 1% and a down-capture ratio of 6%.