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| Manager | |
| Fund Name | |
| Strategy | |
| Latest Return Date | |
| Latest Return | |
| Latest 6 Months | |
| Latest 12 Months | |
| Latest 24 Months (pa) | |
| Annualised Since Inception | |
| Inception Date | |
| 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 Sharpe and Sortino ratios (since inception), 0.97 and 1.42 respectively, by contrast with the Index's Sharpe of 0.62 and Sortino of 0.79, highlight its capacity to produce superior risk adjusted returns while avoiding the market's downside volatility. The Fund's up-capture and down-capture ratios (since inception), 151.55% and 91.58% respectively, indicate that, on average, it has significantly outperformed during the market's positive months while typically not falling further than the market during the market's negative months. The Fund has achieved up-capture ratios greater than 120% and down-capture ratios less than 100% over the past 12, 24, 36, 48 and 60 months. The portfolio ended the month significantly overweight the Discretionary sector (Fund weight: 43.0%, benchmark weight: 8.0%) and underweight the Financials sector (Fund weight: 6.7%, benchmark weight: 29.2%). |
| More Information |
