Pendal MicroCap Opportunities Fund

Performance Summary as at March 2024

The Pendal MicroCap Opportunities Fund has a track record of 18 years and 1 month and has outperformed the ASX 200 Total Return benchmark since inception in March 2006, providing investors with an annualised return of 16.41% compared with the benchmark's return of 7.11% over the same period.

On a calendar year basis, the fund has experienced a negative annual return on 4 occasions in the 18 years and 1 month since its inception. Over the past 12 months, the fund's largest drawdown was -9.64% vs the index's -7.19%, and since inception in March 2006 the fund's largest drawdown was -55.28% vs the index's maximum drawdown over the same period of -47.19%. The fund's maximum drawdown began in January 2008 and lasted 2 years and 8 months, reaching its lowest point during January 2009. The fund had completely recovered its losses by September 2010.

The Manager has delivered these returns with 4.7% more volatility than the benchmark, contributing to a Sharpe ratio for performance over the past 12 months of 0.99 and for performance since inception of 0.75. The fund has provided positive monthly returns 90% of the time in rising markets and 40% of the time during periods of market decline, contributing to an up-capture ratio since inception of 237% and a down-capture ratio of 95%.