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Performance Report: Insync Global Quality Equity Fund
20 Dec 2021 - FundMonitors.com
The Insync Global Quality Equity Fund rose by +7.74% in November, outperforming the Global Equity Index by +4.72% and taking 12-month performance to +26.64% vs the index's +22.84%. The fund has consistently outperformed the Index since...
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20 Dec 2021 - Performance Report: Insync Global Quality Equity Fund
By: FundMonitors.com
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| Fund Overview | Insync invests in a concentrated portfolio of high quality companies that possess long 'runways' of future growth benefitting from Megatrends. Megatrends are multiyear structural and disruptive changes that transform the way we live our daily lives and result from a convergence of different underlying trends including innovation, politics, demographics, social attitudes and lifestyles. They provide important tailwinds to individual stocks and sectors, that reside within them. Insync believe this delivers exponential earnings growth ahead of market expectations. Insync screens the universe of 40,000 listed global companies to just 150 that it views as superior. This includes profitability, balance sheet performance, shareholder focus and valuations. 20-40 companies are then chosen for the portfolio. These reflect the best outcomes from further analysis using a proprietary DCF valuation, implied growth modelling, and free cash flow yield; alongside management, competitor, and industry scrutiny. The Fund may hold some cash (maximum of 5%), derivatives, currency contracts for hedging purposes, and American and/or Global Depository Receipts. It is however, for all intents and purposes, a 'long-only' fund, remaining fully invested irrespective of market cycles. |
| Manager Comments | The Insync Global Quality Equity Fund has a track record of 12 years and 3 months and has consistently outperformed the Global Equity Index since inception in October 2009, providing investors with a return of 14.98%, compared with the index's return of 12.15% over the same time period. On a calendar basis the fund has had 1 negative annual return in the 12 years and 3 months since its inception. Its largest drawdown was -12.64% lasting 7 months, occurring between September 2018 and April 2019 when the index fell by a maximum of -10.57%. The Manager has delivered higher returns but with higher volatility than the index, resulting in a Sharpe ratio which has never fallen below 1 and currently sits at 1.12 since inception. The fund has provided positive monthly returns 82% of the time in rising markets, and 22% of the time when the market was negative, contributing to an up capture ratio since inception of 85% and a down capture ratio of 73%. |
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Fund Review: Bennelong Kardinia Absolute Return Fund November 2021
20 Dec 2021 - Australian Fund Monitors
The latest Fund Review for the Bennelong Kardinia Absolute Return Fund is now available. The Fund, which has been in operation for more than 10 years, has a long-biased, research driven, active equity long/short strategy and invests in...
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20 Dec 2021 - Fund Review: Bennelong Kardinia Absolute Return Fund November 2021
By: Australian Fund Monitors
AFM Fund Review - November 2021 (pdf format)
BENNELONG KARDINIA ABSOLUTE RETURN FUND
Attached is our most recently updated Fund Review. You are also able to view the Fund's Profile.
- The Fund is long biased, research driven, active equity long/short strategy investing in listed ASX companies.
- The Fund has significantly outperformed the ASX200 Accumulation Index since its inception in May 2006 and also has significantly lower risk KPIs. The Fund has an annualised return of 8.50% p.a. with a volatility of 7.58%, compared to the ASX200 Accumulation's return of 6.53% p.a. with a volatility of 14.11%.
- The Fund also has a strong focus on capital protection in negative markets. Portfolio Managers Kristiaan Rehder and Stuart Larke have significant market experience, while Bennelong Funds Management provide infrastructure, operational, compliance and distribution capabilities.
For further details on the Fund, please do not hesitate to contact us.
AFM Fund Review - November 2021 (pdf format)
Performance Report: Delft Partners Global High Conviction Strategy
17 Dec 2021 - FundMonitors.com
The Delft Partners Global High Conviction Strategy has risen +28.85% over the past 12 months vs the Global Equity Index's +28.20%. The strategy has outperformed the Global Equity Index since inception in August 2011, providing investors...
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17 Dec 2021 - Performance Report: Delft Partners Global High Conviction Strategy
By: FundMonitors.com
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| Fund Overview | The quantitative model is proprietary and designed in-house. The critical elements are Valuation, Momentum, and Quality (VMQ) and every stock in the global universe is scored and ranked. Verification of the quant model scores is then cross checked by fundamental analysis in which a company's Accounting policies, Governance, and Strategic positioning is evaluated. The manager believes strategy is suited to investors seeking returns from investing in global companies, diversification away from Australia and a risk aware approach to global investing. It should be noted that this is a strategy in an IMA format and is not offered as a fund. An IMA solution can be a more cost and tax effective solution, for clients who wish to own fewer stocks in a long only strategy. |
| Manager Comments | The Delft Partners Global High Conviction Strategy has a track record of 10 years and 4 months and has outperformed the Global Equity Index since inception in August 2011, providing investors with a return of 15.41%, compared with the index's return of 14.63% over the same time period. On a calendar basis the strategy has had 2 negative annual returns in the 10 years and 4 months since its inception. Its largest drawdown was -13.33% lasting 12 months, occurring between February 2020 and February 2021 when the index fell by a maximum of -13.19%. The Manager has delivered higher returns but with higher volatility than the index, resulting in a Sharpe ratio which has fallen below 1 four times and currently sits at 1.13 since inception. The strategy has provided positive monthly returns 88% of the time in rising markets, and 14% of the time when the market was negative, contributing to an up capture ratio since inception of 98% and a down capture ratio of 93%. |
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Performance Report: Airlie Australian Share Fund
17 Dec 2021 - FundMonitors.com
The Airlie Australian Share Fund rose +0.48% in November, outperforming the ASX200 Total Return by +1.02% and taking 12-month performance to +18.52% vs the index's +12.56%. Since inception in June 2018, the fund has outperformed the index,...
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17 Dec 2021 - Performance Report: Airlie Australian Share Fund
By: FundMonitors.com
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| Fund Overview | The Fund is long-only with a bottom-up focus. It has a concentrated portfolio of 15-35 stocks (target 25). The fund has a maximum cash holding of 10% with an aim to be fully invested. Airlie employs a prudent investment approach that identifies companies based on their financial strength, attractive durable business characteristics and the quality of their management teams. Airlie invests in these companies when their view of their fair value exceeds the prevailing market price. It is jointly managed by Matt Williams and Emma Fisher. Matt has over 25 years' investment experience and formerly held the role of Head of Equities and Portfolio Manager at Perpetual Investments. Emma has over 8 years' investment experience and has previously worked as an investment analyst within the Australian equities team at Fidelity International and, prior to that, at Nomura Securities. |
| Manager Comments | The Airlie Australian Share Fund has a track record of 3 years and 6 months and therefore comparison over all market conditions and against the fund's peers is limited. However, since inception in June 2018, the fund has outperformed the ASX 200 Total Return Index, providing investors with an annualised return of 13.85%, compared with the index's return of 9.49% over the same time period. On a calendar basis the fund has had 1 negative annual return in the 3 years and 6 months since its inception. Its largest drawdown was -23.8% lasting 9 months, occurring between February 2020 and November 2020 when the index fell by a maximum of -26.75%. The Manager has delivered these returns with -0.45% less volatility than the index, contributing to a Sharpe ratio which has fallen below 1 twice and currently sits at 0.87 since inception. The fund has provided positive monthly returns 100% of the time in rising markets, and 15% of the time when the market was negative, contributing to an up capture ratio since inception of 113% and a down capture ratio of 90%. |
| More Information |
Performance Report: Insync Global Capital Aware Fund
17 Dec 2021 - FundMonitors.com
The Insync Global Capital Aware Fund rose by +7.71% in November, outperforming the Global Equity Index by +4.69% and taking 12-month performance to +23.92% vs the index's +22.84%. The fund has consistently outperformed the Index since...
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17 Dec 2021 - Performance Report: Insync Global Capital Aware Fund
By: FundMonitors.com
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| Fund Overview | Insync invests in a concentrated portfolio of high quality companies that possess long 'runways' of future growth benefitting from Megatrends. Megatrends are multiyear structural and disruptive changes that transform the way we live our daily lives and result from a convergence of different underlying trends including innovation, politics, demographics, social attitudes and lifestyles. They provide important tailwinds to individual stocks and sectors, that reside within them. Insync believe this delivers exponential earnings growth ahead of market expectations. The fund uses Put Options to help buffer the depth and duration that sharp, severe negative market impacts would otherwide have on the value of the fund during these events. Insync screens the universe of 40,000 listed global companies to just 150 that it views as superior. This includes profitability, balance sheet performance, shareholder focus and valuations. 20-40 companies are then chosen for the portfolio. These reflect the best outcomes from further analysis using a proprietary DCF valuation, implied growth modelling, and free cash flow yield; alongside management, competitor, and industry scrutiny. The Fund may hold some cash (maximum of 5%), derivatives, currency contracts for hedging purposes, and American and/or Global Depository Receipts. It is however, for all intents and purposes, a 'long-only' fund, remaining fully invested irrespective of market cycles. |
| Manager Comments | The Insync Global Capital Aware Fund has a track record of 12 years and 3 months and has consistently outperformed the Global Equity Index since inception in October 2009, providing investors with a return of 12.98%, compared with the index's return of 12.15% over the same time period. On a calendar basis the fund has had 2 negative annual returns in the 12 years and 3 months since its inception. Its largest drawdown was -10.98% lasting 7 months, occurring between September 2018 and April 2019 when the index fell by a maximum of -10.57%. The Manager has delivered higher returns but with higher volatility than the index, resulting in a Sharpe ratio which has never fallen below 1 and currently sits at 1.01 since inception. The fund has provided positive monthly returns 80% of the time in rising markets, and 24% of the time when the market was negative, contributing to an up capture ratio since inception of 60% and a down capture ratio of 66%. |
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Performance Report: Collins St Value Fund
17 Dec 2021 - Australian Fund Monitors
The Collins St Value Fund has risen +32.70% over the past 12 months vs the ASX200 Total Return Index's +15.48%. The fund has consistently outperformed the ASX 200 Total Return Index since inception in February 2016, providing investors...
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17 Dec 2021 - Performance Report: Collins St Value Fund
By: Australian Fund Monitors
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| Fund Overview | The managers of the fund intend to maintain a concentrated portfolio of investments in ASX listed companies that they have investigated and consider to be undervalued. They will assess the attractiveness of potential investments using a number of common industry based measures, a proprietary in-house model and by speaking with management, industry experts and competitors. Once the managers form a view that an investment offers sufficient upside potential relative to the downside risk, the fund will seek to make an investment. If no appropriate investment can be identified the managers are prepared to hold cash and wait for the right opportunities to present themselves. |
| Manager Comments | The Collins St Value Fund has a track record of 5 years and 10 months and has consistently outperformed the ASX 200 Total Return Index since inception in February 2016, providing investors with a return of 18.07%, compared with the index's return of 10.96% over the same time period. On a calendar basis the fund has never had a negative annual return in the 5 years and 10 months since its inception. Its largest drawdown was -27.46% lasting 7 months, occurring between February 2020 and September 2020. The Manager has delivered higher returns but with higher volatility than the index, resulting in a Sharpe ratio which has fallen below 1 four times and currently sits at 0.97 since inception. The fund has provided positive monthly returns 83% of the time in rising markets, and 65% of the time when the market was negative, contributing to an up capture ratio since inception of 82% and a down capture ratio of 33%. |
| More Information |
Performance Report: Paragon Australian Long Short Fund
16 Dec 2021 - FundMonitors.com
The Paragon Australian Long Short Fund rose +0.53% in November, outperforming the ASX200 Total Return Index by +1.07% and taking 12-month performance to +56.51% vs the Index's +15.48%. The fund has consistently outperformed the Index since...
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16 Dec 2021 - Performance Report: Paragon Australian Long Short Fund
By: FundMonitors.com
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| Fund Overview | Paragon's unique investment style, comprising thematic led idea generation followed with an in depth research effort, results in a concentrated portfolio of high conviction stocks. Conviction in bottom up analysis drives the investment case and ultimate position sizing: * Both quantitative analysis - probability weighted high/low/base case valuations - and qualitative analysis - company meetings, assessing management, the business model, balance sheet strength and likely direction of returns - collectively form Paragon's overall view for each investment case. * Paragon will then allocate weighting to each investment opportunity based on a risk/reward profile, capped to defined investment parameters by market cap, which are continually monitored as part of Paragon's overall risk management framework. The objective of the Paragon Fund is to produce absolute returns in excess of 10% p.a. over a 3-5 year time horizon with a low correlation to the Australian equities market. |
| Manager Comments | The Paragon Australian Long Short Fund has a track record of 8 years and 10 months and has consistently outperformed the ASX 200 Total Return Index since inception in March 2013, providing investors with a return of 15.28%, compared with the index's return of 8.49% over the same time period. On a calendar basis the fund has had 1 negative annual return in the 8 years and 10 months since its inception. Its largest drawdown was -45.11% lasting 2 years and 7 months, occurring between January 2018 and August 2020 when the index fell by a maximum of -26.75%. The Manager has delivered higher returns but with higher volatility than the index, resulting in a Sharpe ratio which has fallen below 1 five times and currently sits at 0.65 since inception. The fund has provided positive monthly returns 69% of the time in rising markets, and 47% of the time when the market was negative, contributing to an up capture ratio since inception of 113% and a down capture ratio of 76%. |
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Performance Report: Quay Global Real Estate Fund
16 Dec 2021 - Australian Fund Monitors
The Quay Global Real Estate Fund rose +3.56% in November, taking 12-month performance to +31.14% vs the ASX200 A-REIT Index's +20.79%. The fund has consistently outperformed the S&P/ASX 200 A-REIT Index since inception in January 2016,...
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16 Dec 2021 - Performance Report: Quay Global Real Estate Fund
By: Australian Fund Monitors
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| Fund Overview | The Fund will invest in a number of global listed real estate companies, groups or funds. The investment strategy is to make investments in real estate securities at a price that will deliver a real, after inflation, total return of 5% per annum (before costs and fees), inclusive of distributions over a longer-term period. The Investment Strategy is indifferent to the constraints of any index benchmarks and is relatively concentrated in its number of investments. The Fund is expected to own between 20 and 40 securities, and from time to time up to 20% of the portfolio maybe invested in cash. The Fund is $A un-hedged. |
| Manager Comments | The Quay Global Real Estate Fund has a track record of 5 years and 10 months and has consistently outperformed the S&P/ASX 200 A-REIT Index since inception in January 2016, providing investors with a return of 10.22%, compared with the index's return of 9.22% over the same time period. On a calendar basis the fund has had 1 negative annual return in the 5 years and 10 months since its inception. Its largest drawdown was -19.68% lasting 16 months, occurring between February 2020 and June 2021 when the index fell by a maximum of -38.29%. The Manager has delivered these returns with -8.43% less volatility than the index, contributing to a Sharpe ratio which has fallen below 1 four times and currently sits at 0.79 since inception. The fund has provided positive monthly returns 77% of the time in rising markets, and 26% of the time when the market was negative, contributing to an up capture ratio since inception of 45% and a down capture ratio of 56%. |
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Performance Report: Premium Asia Fund
15 Dec 2021 - FundMonitors.com
The Premium Asia Fund rose +1.23% in November, outperforming the MSCI All Country Asia Pacific ex-Japan Index by +0.27% and taking 12-month performance to +11.32% vs the index's +2.66%. The fund has consistently outperformed the index...
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15 Dec 2021 - Performance Report: Premium Asia Fund
By: FundMonitors.com
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| Fund Overview | The Fund is managed by Value Partners using a disciplined value-oriented approach supported by intensive, on-the-ground bottom-up fundamental research resulting in a portfolio of individual holdings, which are, in the view of Value Partners, undervalued and of high quality, on either an absolute or relative basis, and which have the potential for capital appreciation. The Fund will primarily have exposure to the equity securities of entities listed on securities exchanges across the Asia (ex-Japan) region, however, the Fund may also gain exposure to entities listed on securities outside the Asia (ex-Japan) region which have significant assets, investments, production activities, trading or other business interests in the Asia (ex-Japan) region as well as unlisted instruments with equity-like characteristics, such as participatory notes and convertible bonds. The Fund may also invest in cash and money market instruments, depositary receipts, listed unit trusts, shares in mutual fund corporations and other collective investment schemes (including real estate investment trusts), derivatives including both exchange-traded and OTC, convertible securities, participatory notes, bonds, and foreign exchange contracts. |
| Manager Comments | The Premium Asia Fund has a track record of 12 years and 1 month and has consistently outperformed the MSCI All Country Asia Pacific ex-Japan Index since inception in December 2009, providing investors with a return of 12%, compared with the index's return of 5.84% over the same time period. On a calendar basis the fund has had 2 negative annual returns in the 12 years and 1 month since its inception. Its largest drawdown was -21.41% lasting 1 year and 11 months, occurring between June 2015 and May 2017 when the index fell by a maximum of -19.56%. The Manager has delivered higher returns but with higher volatility than the index, resulting in a Sharpe ratio which has fallen below 1 three times and currently sits at 0.78 since inception. The fund has provided positive monthly returns 89% of the time in rising markets, and 20% of the time when the market was negative, contributing to an up capture ratio since inception of 161% and a down capture ratio of 91%. |
| More Information |
Performance Report: Cyan C3G Fund
15 Dec 2021 - FundMonitors.com
The Cyan C3G Fund has returned +10.25% over the past 12 months. The fund has outperformed the ASX Small Ordinaries Total Return Index since inception in August 2014, providing investors with a return of 15.61%, compared with the index's...
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15 Dec 2021 - Performance Report: Cyan C3G Fund
By: FundMonitors.com
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| Fund Overview | Cyan C3G Fund is based on the investment philosophy which can be defined as a comprehensive, clear and considered process focused on delivering growth. These are identified through stringent filter criteria and a rigorous research process. The Manager uses a proprietary stock filter in order to eliminate a large proportion of investments due to both internal characteristics (such as gearing levels or cash flow) and external characteristics (such as exposure to commodity prices or customer concentration). Typically, the Fund looks for businesses that are one or more of: a) under researched, b) fundamentally undervalued, c) have a catalyst for re-rating. The Manager seeks to achieve this investment outcome by actively managing a portfolio of Australian listed securities. When the opportunity to invest in suitable securities cannot be found, the manager may reduce the level of equities exposure and accumulate a defensive cash position. Whilst it is the company's intention, there is no guarantee that any distributions or returns will be declared, or that if declared, the amount of any returns will remain constant or increase over time. The Fund does not invest in derivatives and does not use debt to leverage the Fund's performance. However, companies in which the Fund invests may be leveraged. |
| Manager Comments | The Cyan C3G Fund has a track record of 7 years and 4 months and has outperformed the ASX Small Ordinaries Total Return Index since inception in August 2014, providing investors with a return of 15.61%, compared with the index's return of 9.47% over the same time period. On a calendar basis the fund has had 1 negative annual return in the 7 years and 4 months since its inception. Its largest drawdown was -36.45% lasting 16 months, occurring between October 2019 and February 2021 when the index fell by a maximum of -29.12%. The Manager has delivered these returns with -0.19% less volatility than the index, contributing to a Sharpe ratio which has fallen below 1 five times and currently sits at 0.91 since inception. The fund has provided positive monthly returns 85% of the time in rising markets, and 41% of the time when the market was negative, contributing to an up capture ratio since inception of 68% and a down capture ratio of 50%. |
| More Information |
