NEWS
Performance Report: Bennelong Kardinia Absolute Return Fund
17 Aug 2022 - FundMonitors.com
The Bennelong Kardinia Absolute Return Fund rose by +1.16% in July. The fund has outperformed the ASX 200 Total Return Index since inception in May 2006, providing investors with an annualised return of 7.64% compared with the index's...
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17 Aug 2022 - Performance Report: Bennelong Kardinia Absolute Return Fund
By: FundMonitors.com
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| Fund Overview | There is a slight bias to large cap stocks on the long side of the portfolio, although in a rising market the portfolio will tend to hold smaller caps, including resource stocks, more frequently. On the short side, the portfolio is particularly concentrated, with stock selection limited by both liquidity and the difficulty of borrowing stock in smaller cap companies. Short positions are only taken when there is a high conviction view on the specific stock. The Fund uses derivatives in a limited way, mainly selling short dated covered call options to generate additional income. These typically have less than 30 days to expiry, and are usually 5% to 10% out of the money. ASX SPI futures and index put options can be used to hedge the portfolio's overall net position. The Fund's discretionary investment strategy commences with a macro view of the economy and direction to establish the portfolio's desired market exposure. Following this detailed sector and company research is gathered from knowledge of the individual stocks in the Fund's universe, with widespread use of broker research. Company visits, presentations and discussions with management at CEO and CFO level are used wherever possible to assess management quality across a range of criteria. |
| Manager Comments | The Bennelong Kardinia Absolute Return Fund has a track record of 16 years and 3 months and has outperformed the ASX 200 Total Return Index since inception in May 2006, providing investors with an annualised return of 7.64% compared with the index's return of 6.11% over the same period. On a calendar year basis, the fund has experienced a negative annual return on 2 occasions in the 16 years and 3 months since its inception. Over the past 12 months, the fund's largest drawdown was -10.52% vs the index's -11.9%, and since inception in May 2006 the fund's largest drawdown was -11.71% vs the index's maximum drawdown over the same period of -47.19%. The fund's maximum drawdown began in June 2018 and lasted 2 years and 6 months, reaching its lowest point during December 2018. The fund had completely recovered its losses by December 2020. During this period, the index's maximum drawdown was -26.75%. The Manager has delivered these returns with 6.61% less volatility than the index, contributing to a Sharpe ratio which has fallen below 1 five times over the past five years and which currently sits at 0.64 since inception. The fund has provided positive monthly returns 87% of the time in rising markets and 32% of the time during periods of market decline, contributing to an up-capture ratio since inception of 15% and a down-capture ratio of 55%. |
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Performance Report: Insync Global Capital Aware Fund
16 Aug 2022 - FundMonitors.com
The Insync Global Capital Aware Fund rose by +7.02% in July, an outperformance of +1.31% compared with the Global Equity Index which rose by +5.71%. The fund has underperformed the index since inception in October 2009, providing investors...
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16 Aug 2022 - Performance Report: Insync Global Capital Aware Fund
By: FundMonitors.com
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| Fund Overview | Insync invests in a concentrated portfolio of high quality companies that possess long 'runways' of future growth benefitting from Megatrends. Megatrends are multiyear structural and disruptive changes that transform the way we live our daily lives and result from a convergence of different underlying trends including innovation, politics, demographics, social attitudes and lifestyles. They provide important tailwinds to individual stocks and sectors, that reside within them. Insync believe this delivers exponential earnings growth ahead of market expectations. The fund uses Put Options to help buffer the depth and duration that sharp, severe negative market impacts would otherwide have on the value of the fund during these events. Insync screens the universe of 40,000 listed global companies to just 150 that it views as superior. This includes profitability, balance sheet performance, shareholder focus and valuations. 20-40 companies are then chosen for the portfolio. These reflect the best outcomes from further analysis using a proprietary DCF valuation, implied growth modelling, and free cash flow yield; alongside management, competitor, and industry scrutiny. The Fund may hold some cash (maximum of 5%), derivatives, currency contracts for hedging purposes, and American and/or Global Depository Receipts. It is however, for all intents and purposes, a 'long-only' fund, remaining fully invested irrespective of market cycles. |
| Manager Comments | The Insync Global Capital Aware Fund has a track record of 12 years and 10 months and has underperformed the Global Equity Index since inception in October 2009, providing investors with an annualised return of 10.11% compared with the index's return of 10.65% over the same period. On a calendar year basis, the fund has experienced a negative annual return on 2 occasions in the 12 years and 10 months since its inception. Over the past 12 months, the fund's largest drawdown was -27.39% vs the index's -15.77%, and since inception in October 2009 the fund's largest drawdown was -27.39% vs the index's maximum drawdown over the same period of -15.77%. The fund's maximum drawdown began in January 2022 and has lasted 6 months, reaching its lowest point during June 2022. The Manager has delivered these returns with 0.88% more volatility than the index, contributing to a Sharpe ratio which has fallen below 1 five times over the past five years and which currently sits at 0.73 since inception. The fund has provided positive monthly returns 81% of the time in rising markets and 22% of the time during periods of market decline, contributing to an up-capture ratio since inception of 60% and a down-capture ratio of 82%. |
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Performance Report: Bennelong Twenty20 Australian Equities Fund
16 Aug 2022 - FundMonitors.com
The Bennelong Twenty20 Australian Equities Fund rose by +8.61% in July, an outperformance of +2.86% compared with the ASX 200 Total Return Index which rose by +5.75%. The fund has outperformed the index since inception in November 2009,...
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16 Aug 2022 - Performance Report: Bennelong Twenty20 Australian Equities Fund
By: FundMonitors.com
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| Manager Comments | The Bennelong Twenty20 Australian Equities Fund has a track record of 12 years and 9 months and has outperformed the ASX 200 Total Return Index since inception in November 2009, providing investors with an annualised return of 9.77% compared with the index's return of 7.61% over the same period. On a calendar year basis, the fund has experienced a negative annual return on 2 occasions in the 12 years and 9 months since its inception. Over the past 12 months, the fund's largest drawdown was -22.27% vs the index's -11.9%, and since inception in November 2009 the fund's largest drawdown was -26.09% vs the index's maximum drawdown over the same period of -26.75%. The fund's maximum drawdown began in February 2020 and lasted 9 months, reaching its lowest point during March 2020. The fund had completely recovered its losses by November 2020. The Manager has delivered these returns with 0.69% more volatility than the index, contributing to a Sharpe ratio which has fallen below 1 five times over the past five years and which currently sits at 0.59 since inception. The fund has provided positive monthly returns 95% of the time in rising markets and 7% of the time during periods of market decline, contributing to an up-capture ratio since inception of 120% and a down-capture ratio of 98%. |
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Performance Report: L1 Capital Long Short Fund (Monthly Class)
15 Aug 2022 - FundMonitors.com
Over the past 12 months, the L1 Capital Long Short Fund (Monthly Class) has risen by +3.34% compared with the ASX 200 Total Return Index which has fallen -2.17%, for a difference of +5.51%. The fund has outperformed the index since...
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15 Aug 2022 - Performance Report: L1 Capital Long Short Fund (Monthly Class)
By: FundMonitors.com
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| Manager Comments | The L1 Capital Long Short Fund (Monthly Class) has a track record of 7 years and 11 months and has outperformed the ASX 200 Total Return Index since inception in September 2014, providing investors with an annualised return of 20.05% compared with the index's return of 6.91% over the same period. On a calendar year basis, the fund has only experienced a negative annual return once in the 7 years and 11 months since its inception. Over the past 12 months, the fund's largest drawdown was -17.4% vs the index's -11.9%, and since inception in September 2014 the fund's largest drawdown was -39.11% vs the index's maximum drawdown over the same period of -26.75%. The fund's maximum drawdown began in February 2018 and lasted 2 years and 9 months, reaching its lowest point during March 2020. The fund had completely recovered its losses by November 2020. The Manager has delivered these returns with 6.62% more volatility than the index, contributing to a Sharpe ratio which has fallen below 1 four times over the past five years and which currently sits at 0.92 since inception. The fund has provided positive monthly returns 78% of the time in rising markets and 64% of the time during periods of market decline, contributing to an up-capture ratio since inception of 82% and a down-capture ratio of 18%. |
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Performance Report: Bennelong Emerging Companies Fund
15 Aug 2022 - FundMonitors.com
The Bennelong Emerging Companies Fund rose by +12.29% in July, an outperformance of +6.54% compared with the ASX 200 Total Return Index which rose by +5.75%. The fund has outperformed the index since inception in November 2017, providing...
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15 Aug 2022 - Performance Report: Bennelong Emerging Companies Fund
By: FundMonitors.com
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| Manager Comments | The Bennelong Emerging Companies Fund has a track record of 4 years and 9 months and therefore comparison over all market conditions and against its peers is limited. However, the fund has outperformed the ASX 200 Total Return Index since inception in November 2017, providing investors with an annualised return of 18.53% compared with the index's return of 7.42% over the same period. On a calendar year basis, the fund has only experienced a negative annual return once in the 4 years and 9 months since its inception. Over the past 12 months, the fund's largest drawdown was -31.43% vs the index's -11.9%, and since inception in November 2017 the fund's largest drawdown was -41.74% vs the index's maximum drawdown over the same period of -26.75%. The fund's maximum drawdown began in December 2019 and lasted 10 months, reaching its lowest point during March 2020. The fund had completely recovered its losses by October 2020. The Manager has delivered these returns with 15.08% more volatility than the index, contributing to a Sharpe ratio which has fallen below 1 four times over the past four years and which currently sits at 0.69 since inception. The fund has provided positive monthly returns 82% of the time in rising markets and 32% of the time during periods of market decline, contributing to an up-capture ratio since inception of 285% and a down-capture ratio of 125%. |
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Performance Report: DS Capital Growth Fund
12 Aug 2022 - FundMonitors.com
The DS Capital Growth Fund rose by +8.75% in July, an outperformance of +3% compared with the ASX 200 Total Return Index which rose by +5.75%. The fund has outperformed the index since inception in January 2013, providing investors with an...
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12 Aug 2022 - Performance Report: DS Capital Growth Fund
By: FundMonitors.com
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| Fund Overview | The investment team looks for industrial businesses that are simple to understand, generally avoiding large caps, pure mining, biotech and start-ups. They also look for: - Access to management; - Businesses with a competitive edge; - Profitable companies with good margins, organic growth prospects, strong market position and a track record of healthy dividend growth; - Sectors with structural advantage and barriers to entry; - 15% p.a. pre-tax compound return on each holding; and - A history of stable and predictable cash flows that DS Capital can understand and value. |
| Manager Comments | The DS Capital Growth Fund has a track record of 9 years and 7 months and has outperformed the ASX 200 Total Return Index since inception in January 2013, providing investors with an annualised return of 13.42% compared with the index's return of 8.61% over the same period. On a calendar year basis, the fund has only experienced a negative annual return once in the 9 years and 7 months since its inception. Over the past 12 months, the fund's largest drawdown was -21.05% vs the index's -11.9%, and since inception in January 2013 the fund's largest drawdown was -22.53% vs the index's maximum drawdown over the same period of -26.75%. The fund's maximum drawdown began in February 2020 and lasted 6 months, reaching its lowest point during March 2020. The fund had completely recovered its losses by August 2020. The Manager has delivered these returns with 1.74% less volatility than the index, contributing to a Sharpe ratio which has fallen below 1 five times over the past five years and which currently sits at 0.99 since inception. The fund has provided positive monthly returns 89% of the time in rising markets and 33% of the time during periods of market decline, contributing to an up-capture ratio since inception of 68% and a down-capture ratio of 62%. |
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Performance Report: Bennelong Concentrated Australian Equities Fund
12 Aug 2022 - FundMonitors.com
The Bennelong Concentrated Australian Equities Fund rose by +10.32% in July, an outperformance of +4.57% compared with the ASX 200 Total Return Index which rose by +5.75%. The fund has outperformed the index since inception in February...
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12 Aug 2022 - Performance Report: Bennelong Concentrated Australian Equities Fund
By: FundMonitors.com
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| Manager Comments | The Bennelong Concentrated Australian Equities Fund has a track record of 13 years and 6 months and has outperformed the ASX 200 Total Return Index since inception in February 2009, providing investors with an annualised return of 14.35% compared with the index's return of 9.66% over the same period. On a calendar year basis, the fund has experienced a negative annual return on 2 occasions in the 13 years and 6 months since its inception. Over the past 12 months, the fund's largest drawdown was -31.8% vs the index's -11.9%, and since inception in February 2009 the fund's largest drawdown was -31.8% vs the index's maximum drawdown over the same period of -26.75%. The fund's maximum drawdown began in December 2021 and has lasted 7 months, reaching its lowest point during June 2022. During this period, the index's maximum drawdown was -11.9%. The Manager has delivered these returns with 1.98% more volatility than the index, contributing to a Sharpe ratio which has fallen below 1 five times over the past five years and which currently sits at 0.8 since inception. The fund has provided positive monthly returns 90% of the time in rising markets and 19% of the time during periods of market decline, contributing to an up-capture ratio since inception of 143% and a down-capture ratio of 96%. |
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Performance Report: Airlie Australian Share Fund
11 Aug 2022 - FundMonitors.com
The Airlie Australian Share Fund rose by +7.53% in July, an outperformance of +1.78% compared with the ASX 200 Total Return Index which rose by +5.75%. The fund has outperformed the index since inception in June 2018, providing investors...
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11 Aug 2022 - Performance Report: Airlie Australian Share Fund
By: FundMonitors.com
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| Fund Overview | The Fund is long-only with a bottom-up focus. It has a concentrated portfolio of 15-35 stocks (target 25). The fund has a maximum cash holding of 10% with an aim to be fully invested. Airlie employs a prudent investment approach that identifies companies based on their financial strength, attractive durable business characteristics and the quality of their management teams. Airlie invests in these companies when their view of their fair value exceeds the prevailing market price. It is jointly managed by Matt Williams and Emma Fisher. Matt has over 25 years' investment experience and formerly held the role of Head of Equities and Portfolio Manager at Perpetual Investments. Emma has over 8 years' investment experience and has previously worked as an investment analyst within the Australian equities team at Fidelity International and, prior to that, at Nomura Securities. |
| Manager Comments | The Airlie Australian Share Fund has a track record of 4 years and 2 months and therefore comparison over all market conditions and against its peers is limited. However, the fund has outperformed the ASX 200 Total Return Index since inception in June 2018, providing investors with an annualised return of 9.55% compared with the index's return of 7.36% over the same period. On a calendar year basis, the fund hasn't experienced any negative annual returns in the 4 years and 2 months since its inception. Over the past 12 months, the fund's largest drawdown was -16.29% vs the index's -11.9%, and since inception in June 2018 the fund's largest drawdown was -23.8% vs the index's maximum drawdown over the same period of -26.75%. The fund's maximum drawdown began in February 2020 and lasted 9 months, reaching its lowest point during March 2020. The fund had completely recovered its losses by November 2020. The Manager has delivered these returns with 0.02% less volatility than the index, contributing to a Sharpe ratio which has fallen below 1 three times over the past four years and which currently sits at 0.6 since inception. The fund has provided positive monthly returns 97% 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 108% and a down-capture ratio of 97%. |
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Performance Report: Bennelong Australian Equities Fund
11 Aug 2022 - FundMonitors.com
The Bennelong Australian Equities Fund rose by +9.85% in July, an outperformance of +4.1% compared with the ASX 200 Total Return Index which rose by +5.75%. The fund has outperformed the index since inception in February 2009, providing...
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11 Aug 2022 - Performance Report: Bennelong Australian Equities Fund
By: FundMonitors.com
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| Manager Comments | The Bennelong Australian Equities Fund has a track record of 13 years and 6 months and has outperformed the ASX 200 Total Return Index since inception in February 2009, providing investors with an annualised return of 12.66% compared with the index's return of 9.66% over the same period. On a calendar year basis, the fund has only experienced a negative annual return once in the 13 years and 6 months since its inception. Over the past 12 months, the fund's largest drawdown was -29.91% vs the index's -11.9%, and since inception in February 2009 the fund's largest drawdown was -29.91% vs the index's maximum drawdown over the same period of -26.75%. The fund's maximum drawdown began in December 2021 and has lasted 7 months, reaching its lowest point during June 2022. During this period, the index's maximum drawdown was -11.9%. The Manager has delivered these returns with 1.51% more volatility than the index, contributing to a Sharpe ratio which has fallen below 1 five times over the past five years and which currently sits at 0.72 since inception. The fund has provided positive monthly returns 91% of the time in rising markets and 17% of the time during periods of market decline, contributing to an up-capture ratio since inception of 134% and a down-capture ratio of 99%. |
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Performance Report: 4D Global Infrastructure Fund
10 Aug 2022 - FundMonitors.com
The 4D Global Infrastructure Fund rose by +2.27% in July, a difference of -0.52% compared with the S&P Global Infrastructure TR (AUD) Index which rose by +2.79%. The fund has outperformed the index since inception in March 2016, providing...
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10 Aug 2022 - Performance Report: 4D Global Infrastructure Fund
By: FundMonitors.com
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| Fund Overview | The fund is managed as a single portfolio including regulated utilities in gas, electricity and water, transport infrastructure such as airports, ports, road and rail, as well as communication assets such as the towers and satellite sectors. The portfolio is intended to have exposure to both developed and emerging market opportunities, with country risk assessed internally before any investment is considered. The maximum absolute position of an individual stock is 7% of the fund. |
| Manager Comments | The 4D Global Infrastructure Fund has a track record of 6 years and 5 months and has outperformed the S&P Global Infrastructure TR (AUD) Index since inception in March 2016, providing investors with an annualised return of 9.05% compared with the index's return of 8.89% over the same period. On a calendar year basis, the fund has only experienced a negative annual return once in the 6 years and 5 months since its inception. Over the past 12 months, the fund's largest drawdown was -5.82% vs the index's -3.91%, and since inception in March 2016 the fund's largest drawdown was -19.77% vs the index's maximum drawdown over the same period of -24.67%. The fund's maximum drawdown began in February 2020 and lasted 2 years and 2 months, reaching its lowest point during September 2020. The fund had completely recovered its losses by April 2022. The Manager has delivered these returns with 0.38% less volatility than the index, contributing to a Sharpe ratio which has fallen below 1 five times over the past five years and which currently sits at 0.71 since inception. The fund has provided positive monthly returns 96% of the time in rising markets and 13% of the time during periods of market decline, contributing to an up-capture ratio since inception of 99% and a down-capture ratio of 98%. |
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