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| Fund Name | |
| Strategy | |
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| Latest 6 Months | |
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| FUM (millions) | |
| Fund Overview | The overriding objective of the Concentrated Australian Equities Fund is to seek investment opportunities which are under-appreciated and have the potential to deliver positive earnings, while satisfying our stringent quality criteria. Bennelong's investment process combines bottom-up fundamental analysis together with proprietary investment tools which are used to build and maintain high quality portfolios that are risk aware. The portfolio typically consists of 20-35 high-conviction stocks from the S&P/ASX 300 Index. The Fund may invest in securities listed on other exchanges where such securities relate to ASX-listed securities. Derivative instruments are mainly used to replicate underlying positions and hedge market and company specific risks. |
| Manager Comments | The Fund's up-capture and down-capture ratios (since inception), 149.4% and 91.6% respectively, indicate that, on average, it has outperformed in both the market's positive and negative months. The Fund's Sortino ratio (since inception) of 1.36 vs the Index's 0.73 demonstrates its capacity to avoid the market's downside volatility over the long-term. As at the end of December, the portfolio's weightings had been increased in the IT, Communication, Industrials, Materials and Financials sectors, and decreased in the Discretionary, Health Care and REIT's sectors. The portfolio is significantly overweight the Discretionary sector (Fund weight: 39.8%, benchmark weight: 7.7%) and underweight the Financials sectors (Fund weight: 7.1%, benchmark weight: 27.1%). |
| More Information |
