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| Strategy | |
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| Latest 24 Months (pa) | |
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| FUM (millions) | |
| Fund Overview | The main driver of identifying potential investments will be bottom up company analysis, however macro-economic conditions will be considered as part of the investment thesis for each stock. |
| Manager Comments | The Fund's Sharpe and Sortino ratios (since inception), 0.92 and 1.09 respectively, by contrast with the Index's Sharpe of 0.55 and Sortino of 0.60, highlight its capacity to produce superior risk-adjusted returns while avoiding the market's downside volatility. The Fund has achieved and up-capture ratio (since inception) of 197%, indicating that, on average, it has risen almost twice as much as the market during the market's positive months. Top contributors in March included People Infrastructure, Whitehaven Coal, Moelis Australia, Fiducian Group, Collins Foods and Eagers Automotive. Key detractors included Coronado Global Resources and Alliance Aviation Services. Glenmore noted that, overall, they are very positive on the prospects for equities generally and the portfolio's holdings more specifically. They added that the recent reporting season highlighted a number of interesting stocks across a range of sectors and with a positive backdrop (recovering global growth, low interest rates, increased rollout of the vaccine). Their outlook on the next 12-18 months remains positive. |
| More Information |
