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| Strategy | |
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| Fund Overview | 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 Comments | The Fund's Sharpe and Sortino ratios (since inception), 0.70 and 0.89 respectively, by contrast with the Index's Sharpe of 0.48 and Sortino of 0.57, 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), 126.05% and 96.33% 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% over the past 12, 24, 36, 48 and 60 months. The portfolio is significantly overweight the Discretionary sector relative to the ASX300. The sector makes up 31.5% of the portfolio but only 8.0% of the Index. Together with positions in the top 20 stocks, the Fund is selectively invested in a group of high quality growth stocks. This provides the opportunity for the Fund to outperform over time. As a diversified group of stocks, Bennelong believe the Fund is well set up to provide enhanced index returns. |
| More Information |
