Cyan C3G Fund

Performance Summary as at March 2024

The Cyan C3G Fund has a track record of 9 years and 8 months and has underperformed the ASX Small Ordinaries Total Return benchmark since inception in August 2014, providing investors with an annualised return of 1.42% compared with the benchmark's return of 6.65% over the same period.

On a calendar year basis, the fund has experienced a negative annual return on 3 occasions in the 9 years and 8 months since its inception. Over the past 12 months, the fund's largest drawdown was -19.25% vs the index's -10.46%, and since inception in August 2014 the fund's largest drawdown was -61.9% vs the index's maximum drawdown over the same period of -29.12%. The fund's maximum drawdown began in November 2021 and has so far lasted 2 years and 4 months, reaching its lowest point during February 2024. During this period, the index's maximum drawdown was -24.24%.

The Manager has delivered these returns with 0.94% 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 0.08 since inception. The fund has provided positive monthly returns 77% of the time in rising markets and 30% of the time during periods of market decline, contributing to an up-capture ratio since inception of 33% and a down-capture ratio of 89%.