| Fund Type: | Single | Discretionary/Quantitative: |
Discretionary |
| Strategy: | Equity Long | FUM (millions): | AU$649m |
| Style: | Blend | Fund Inception Date: | Since 01 July 2015 |
| Geographic Mandate: | Global | Latest Return Date: | October 2024 |
| Fund Domicile: | Australia | Investor Type: | Wholesale & Retail |
| Status: | Open | Reporting Status: | Current |
| Manager: | Antipodes Partners | Total FUM for all funds: | AU$8,000m |
|
Manager Overview:
Antipodes is a global asset manager offering a pragmatic value approach across long only and longshort strategies. It aspires to grow client wealth over the long-term by generating absolute returns in excess of the benchmark at below market levels of risk. Antipodes seeks to take advantage of the market's tendency for irrational extrapolation, identify investments that offer a high margin of safety and build high conviction portfolios with a capital preservation focus.
Antipodes is majority owned by its investment team and its performance culture is underpinned by incentives, a focused offering and the outsourcing of non-investment functions to maximise focus on investing. |
Fund/Strategy Overview:
The Fund typically invests in a select number of attractively valued companies listed on global share markets (usually between 20 and 60). The Fund is also permitted to utilise exchange traded derivatives for risk management purposes subject to the specific restrictions that such derivatives cannot be used to gear portfolio exposure and that the underlying effective face value is limited to 10% of the NAV of the Fund unless used to manage currency risk.
Currency exposure will generally reflect the currency of the underlying securities. However, where the Investment Manager believes there is a strong likelihood of a decline in the underlying currency, currency derivatives, both over-the-counter and exchange traded, may be used to hedge subject to the specific restriction that such derivatives cannot be used to gear portfolio exposure. |
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| Other funds operated by manager: | |||
| Antipodes Asia Fund, Antipodes Asia Income Fund, Antipodes China Fund, Antipodes Emerging Markets (Managed Fund), Antipodes Global Fund, Antipodes Global Fund (PIE), Antipodes Global Fund Long (PIE) | |||
| Minimum Investment: | Minimum Additional Investment: | Minimum Term: | Investment Frequency: |
| AU$25,000 | AU$5,000 | Daily | |
| Regular Savings Option: | Regular Savings Min. Amount : |
Regular Savings Max. Amount : |
Regular Savings Freq.: |
| No | N/A | ||
| Redemption Notice: | Redemption Frequency: | Notes: | |
| Daily |
|||
| Distributions: | Distribution Frequency: | Last Distribution Date: | Last Distribution Amount: |
| Yes | Annually | AU$ |
| Offshore/Onshore: | Fund Structure: | Share Classes: |
Trustee/Responsible Entity: |
| Onshore | Unit Trust | AU$ | Pinnacle Fund Services |
| Administrator: | Prime Broker: | Custodian: | Legal: |
| Citigroup | N/A | Citigroup | N/A |
| Management Fee: |
Performance Fee: |
High Water Mark: |
Hurdle: |
| 1.2% | 15% | Yes | MSCI All Country World Net Index in AUD |
| Buy Spread: | Sell spread: | Early Redemption Fee: | Fees Notes: |
| 0.300% | 0.300% | No |
| Latest Return Date: | Latest Result: | Fund Inception Date: | Annualised Return: |
| October 2024 | 2.80% | 01 July 2015 | 10.59% |
| Latest 3 Months: | Latest 6 Months: | Latest 12 Months: | Latest 2 Years p.a.: |
| 4.45% | 7.75% | 23.47% | 19.76% |
| Latest 3 Years p.a.: |
Latest 4 Years p.a.: |
Latest 5 Years p.a.: |
Latest 7 Years p.a.: |
| 7.60% | 11.49% | 9.19% | 8.39% |
| % Positive Months (S.I.): |
Average Return: | Average +ve Return: | Average -ve Return: |
| 65.55% | 0.89% | 2.68% | -2.51% |
| Best Month: | Worst Month: | Up Capture Ratio (S.I.): |
Down Capture Ratio (S.I.): |
| 9.43% | -10.34% | 66.63% | 86.12% |
| Largest Drawdown (S.I.): |
Longest Drawdown (S.I.): |
Current Drawdown (%): |
Current Drawdown (Months): |
| -17.58% | 19 months | 0.00% | N/A |
| Annualised Standard Deviation (S.I.): |
Downside Deviation (S.I.): |
Sortino Ratio (S.I.): |
- |
| 10.85% | 6.83% | 1.23 | - |
| Sharpe Ratio (12 months): |
Sharpe Ratio (3 years): |
Sharpe Ratio (5 years): |
Sharpe Ratio (S.I.): |
| 2.08 | 0.47 | 0.69 | 0.83 |
| Please note, Sharpe and Sortino ratios are calculated using the Australian Risk Free Rate | |||
AFM's Quintile Rankings show performance and Key Performance Indicators (KPI's) of Antipodes Global Fund - Long Only (Class I) compared to a peer group of funds with a similar strategy and geographic mandate. Each green square places a fund in one quintile (or 20%) of its peer group - five indicating that the fund is in the top (best) quintile for the corresponding KPI.
As a reference point the equivalent "quintile" performance of the peer group's underlying market index is also indicated by the red dot.
| Lonsec: | Recommended, March 2021 |
| Zenith: | Highly Recommended, November 2020 |
Historical Performance (all figures shown here are net of fees unless otherwise stated)
| Year | Jan % | Feb % | Mar % | Apr % | May % | Jun % | Jul % | Aug % | Sep % | Oct % | Nov % | Dec % | YTD % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 2.10 | 5.20 | 3.90 | -1.60 | 0.60 | -1.59 | 4.20 | -2.30 | 4.00 | 2.80 | N/R | N/R | 18.33 |
| 2023 | 5.57 | 1.55 | 3.70 | 2.59 | -1.10 | 1.60 | 2.50 | 0.30 | -3.70 | -2.30 | 2.40 | 1.90 | 15.67 |
| 2022 | 1.20 | -4.28 | -4.27 | 1.12 | 2.19 | -5.44 | 0.71 | -0.90 | -3.16 | 4.00 | 6.71 | -1.80 | -4.56 |
| 2021 | -0.22 | 2.90 | 5.56 | 0.99 | 1.17 | 1.05 | -0.40 | 2.86 | -1.21 | -0.10 | 1.11 | -5.69 | 7.89 |
| 2020 | 1.51 | -2.40 | -10.34 | 2.40 | 1.98 | -0.42 | 0.73 | 2.46 | -0.33 | 1.80 | 9.43 | 0.20 | 6.07 |
| 2019 | 3.36 | 2.84 | 0.05 | 4.94 | -5.68 | 5.81 | 0.15 | -1.25 | 2.08 | 0.32 | 3.37 | 0.45 | 17.15 |
| 2018 | 3.14 | 0.59 | -0.69 | 3.32 | -2.59 | 2.42 | 1.76 | 1.54 | 1.64 | -6.10 | -3.96 | -2.20 | -1.62 |
| 2017 | -2.11 | 0.54 | 5.16 | 2.29 | 4.50 | -1.53 | 0.06 | 1.06 | 3.80 | 3.29 | 2.99 | -0.93 | 20.51 |
| 2016 | -3.23 | 0.25 | -0.47 | 4.35 | 3.98 | -4.55 | 3.08 | 5.70 | -0.22 | 0.93 | 2.38 | 3.37 | 16.13 |
| 2015 | 0.66 | 6.72 | 2.78 | -2.34 | 3.19 | -3.96 | 5.00 | -2.99 | -0.81 | 5.06 | -2.53 | -1.17 | 9.27 |
| 2014 | N/R | N/R | N/R | N/R | N/R | N/R | N/R | N/R | N/R | N/R | N/R | 3.00 | 3.00 |
Historical Financial Year Performance (all figures shown here are are percentage per month net of fees unless otherwise stated)
| Year | Jul % | Aug % | Sep % | Oct % | Nov % | Dec % | Jan % | Feb % | Mar % | Apr % | May % | Jun % | FYTD % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024/2025 | 4.20 | -2.30 | 4.00 | 2.80 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 8.84 |
| 2023/2024 | 2.50 | 0.30 | -3.70 | -2.30 | 2.40 | 1.90 | 2.10 | 5.20 | 3.90 | -1.60 | 0.60 | -1.59 | 9.73 |
| 2022/2023 | 0.71 | -0.90 | -3.16 | 4.00 | 6.71 | -1.80 | 5.57 | 1.55 | 3.70 | 2.59 | -1.10 | 1.60 | 20.71 |
| 2021/2022 | -0.40 | 2.86 | -1.21 | -0.10 | 1.11 | -5.69 | 1.20 | -4.28 | -4.27 | 1.12 | 2.19 | -5.44 | -12.64 |
| 2020/2021 | 0.73 | 2.46 | -0.33 | 1.80 | 9.43 | 0.20 | -0.22 | 2.90 | 5.56 | 0.99 | 1.17 | 1.05 | 28.49 |
| 2019/2020 | 0.15 | -1.25 | 2.08 | 0.32 | 3.37 | 0.45 | 1.51 | -2.40 | -10.34 | 2.40 | 1.98 | -0.42 | -2.85 |
| 2018/2019 | 1.76 | 1.54 | 1.64 | -6.10 | -3.96 | -2.20 | 3.36 | 2.84 | 0.05 | 4.94 | -5.68 | 5.81 | 3.19 |
| 2017/2018 | 0.06 | 1.06 | 3.80 | 3.29 | 2.99 | -0.93 | 3.14 | 0.59 | -0.69 | 3.32 | -2.59 | 2.42 | 17.48 |
| 2016/2017 | 3.08 | 5.70 | -0.22 | 0.93 | 2.38 | 3.37 | -2.11 | 0.54 | 5.16 | 2.29 | 4.50 | -1.53 | 26.52 |
| 2015/2016 | 5.00 | -2.99 | -0.81 | 5.06 | -2.53 | -1.17 | -3.23 | 0.25 | -0.47 | 4.35 | 3.98 | -4.55 | 2.25 |
| 2014/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3.00 | 0.66 | 6.72 | 2.78 | -2.34 | 3.19 | -3.96 | 10.08 |
