Fund Monitors Pty Ltd

www.fundmonitors.com
© Copyright 2024
Printed: 29 November 2024 9:47 AM

News

26 Aug 2020 - Performance Report: Bennelong Twenty20 Australian Equities Fund

By: Australian Fund Monitors

Report Date26 August 2020
ManagerBennelong Australian Equity Partners (BAEP), a Bennelong boutique
Fund NameBennelong Twenty20 Australian Equities Fund
StrategyEquity Long
Latest Return DateJuly 2020
Latest Return1.48%
Latest 6 Months-9.46%
Latest 12 Months-0.34%
Latest 24 Months (pa)2.96%
Annualised Since Inception9.49%
Inception Date02 December 2015
FUM (millions)AU$14.3
Fund OverviewThe Fund aims to outperform the return of the S&P/ASX 300 Accumulation Index by 2% per annum after fees on a rolling three-year basis by combining indexed positions in the S&P/ASX 20 stocks with an actively managed exposure in primarily Australian stocks that are outside the S&P/ASX 20.

The Fund is managed as one portfolio but comprises and combines two separately managed exposures:

1. An investment in the top 20 stocks of the markets, which the Fund achieves by taking an indexed position in the S&P/ASX 20 Index; and

2. An investment in the stocks beyond the S&P/ASX 20 Index. This exposure is managed on an active basis using a fundamental core approach.

The Fund may also invest in securities expected to be listed on the ASX, securities listed or expected to be listed on other exchanges where such securities relate to ASX-listed securities.Derivative instruments may be used to replicate underlying positions and hedge market and company specific risks. The companies within the portfolio are primarily selected from, but not limited to, the S&P/ASX 300 Accumulation Index.

The Fund typically holds between 40-55 stocks and thus is considered to be highly concentrated. This means that investors should expect to see high short-term volatility. The Fund seeks to achieve growth over the long-term, therefore the minimum suggested investment timeframe is 5 years.
Manager CommentsThe Bennelong Twenty20 Australian Equities Fund rose +1.48% in July, outperforming the ASX200 Accumulation Index by +0.98% and taking annualised performance since inception in November 2009 to +9.49% versus the Index's annualised return over the same period of +6.78%. The Fund's up-capture and down-capture ratios for performance since inception, 114.7% and 96% respectively, highlight its capacity to outperform in both rising and falling markets.

As at the end of July, the portfolio's weightings had been increased in the Industrials, Consumer Staples, Communication, Materials, Health Care, IT and REIT's sectors, and decreased in the Discretionary, Energy and Financials sectors. By comparison with the Fund's benchmark (ASX300 Accumulation Index), the portfolio is significantly more heavily weighted towards the Discretionary sector with an 'Active Weight' of 19.6%.
More Information

Australian Fund Monitors Pty Ltd
A.C.N. 122 226 724
AFSL 324476
Email: [email protected]