Performance Report: NWQ Fiduciary Fund

21 Aug 2020 - Australian Fund Monitors

The NWQ Fiduciary Fund rose +5.13% in July, outperforming the ASX200 Accumulation Index by +4.63% and taking 12-month performance to +7.35% versus the Index's -9.87%. Since inception in May 2013, the Fund has returned +5.77% p.a. with an...

21 Aug 2020 - Performance Report: NWQ Fiduciary Fund

By: Australian Fund Monitors

Report Date	21 August 2020
Manager	NWQ Capital Management Pty Ltd
Fund Name	NWQ Fiduciary Fund
Strategy	Multi Strategy
Latest Return Date	July 2020
Latest Return	5.13%
Latest 6 Months	1.70%
Latest 12 Months	7.35%
Latest 24 Months (pa)	2.68%
Annualised Since Inception	5.77%
Inception Date	01 May 2013
FUM (millions)	AU$67
Fund Overview	The NWQ Fiduciary Fund (Fund), managed by NWQ Capital Management, is a diversified multi-manager portfolio, modelled on NWQ's Fiduciary Model Portfolio. The principal investment objective of the Fund is to produce attractive positive returns irrespective of market direction. This is achieved through active allocations to selective fund managers that employ a variety of traditional and absolute return strategies. The Fund places emphasis on managers who demonstrate a rigorous and repeatable investment process that has delivered a strong track record. The Fund aims to produce returns after management fees and expenses of RBA Cash Rate + 4.0-5.0% p.a. over rolling five-year periods. Furthermore, the Fund aims to achieve these returns with volatility that is a fraction of the Australian equity market, in order to smooth returns for investors.
Manager Comments	The NWQ Fiduciary Fund rose +5.13% in July, outperforming the ASX200 Accumulation Index by +4.63% and taking 12-month performance to +7.35% versus the Index's -9.87%. Since inception in May 2013, the Fund has returned +5.77% p.a. with an annualised volatility of 5.82%. By contrast, the Index has returned +6.26% p.a. with an annualised volatility of 13.87% over the same period. The Fund's focus on protecting investors' capital from significant losses is highlighted by its Sortino ratio of 1.03 versus the Index's 0.41 and down-capture ratio of 13.93% for performance since inception. The Fund recorded its largest ever monthly gain in July. NWQ noted that this came against the backdrop of an elevated level of stock return dispersion and a strengthening of market thematics around the winners and losers of the transition to a COVID economy. Each of the Fund's underlying managers capitalised on this opportunity set and delivered a positive return in the range of +2% to +15%. NWQ believe this rich opportunity set will be sustained as the world continues to transition to the 'new normal' of the COVID economy. The Fund's overall exposure to the market remains low.
More Information	View Fund's Profile View Manager's Report

Manager Insights | Gyrostat Capital Management

21 Aug 2020 - Australian Fund Monitors

Chris Gosselin, CEO of Australian Fund Monitors, speaks with Craig Racine from Gyrostat Capital Management about the Gyrostat Absolute Return Income Equity Fund. Craig's fund began in December 2010 and is designed to combine protection,...

Gyrations: August 2020

20 Aug 2020 - Gyrostat Capital Management

There have been significant advances in risk management for conservative investors, enabling them to protect and grow capital with reliable income through the complete investment cycle. Each level has a reduction in the downside...

Presentation - Gyrostat Absolute Return Income Equity Fund

20 Aug 2020 - Gyrostat Capital Management

Gyrostat complements existing portfolios as a defensive allocation to reduce portfolio risk, increase income, and increase returns. We reliably increase in value on market falls with the extra protection always in place whilst...

Performance Report: Bennelong Concentrated Australian Equities Fund

20 Aug 2020 - Australian Fund Monitors

The Bennelong Concentrated Australian Equities Fund rose +2.20% in July ,outperforming the ASX200 Accumulation Index by +1.70% and taking 12-month performance to +6.85% versus the Index's -9.87%. Since inception in February 2009, the Fund...

20 Aug 2020 - Performance Report: Bennelong Concentrated Australian Equities Fund

By: Australian Fund Monitors

Report Date	20 August 2020
Manager	Bennelong Australian Equity Partners (BAEP), a Bennelong boutique
Fund Name	Bennelong Concentrated Australian Equities Fund
Strategy	Equity Long
Latest Return Date	July 2020
Latest Return	2.20%
Latest 6 Months	-7.33%
Latest 12 Months	6.85%
Latest 24 Months (pa)	1.44%
Annualised Since Inception	15.55%
Inception Date	30 January 2009
FUM (millions)	AU$902.32
Fund Overview	Bennelong Australian Equity Partners (BAEP) is a boutique asset manager offering Australian equities solutions for institutional and retail clients. The business was founded in 2008 by Paul Cuddy and Mark East, in partnership with Bennelong Funds Management. Prior to establishing BAEP, Paul and Mark were Co-Heads of Australian Equities at ING Investment Management. 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 Bennelong Concentrated Australian Equities Fund rose +2.20% in July ,outperforming the ASX200 Accumulation Index by +1.70% and taking 12-month performance to +6.85% versus the Index's -9.87%. Since inception in February 2009, the Fund has returned +15.55% p.a. against the Index's annualised return over the same period of +9.24%. The Fund's up-capture and down-capture ratios for performance since inception, 144.21% and 91.76% respectively, indicate that, on average, the Fund has outperformed in both rising and falling markets. As at the end of July, the portfolio's weightings had been increased in the Health Care, Materials, Consumer Staples, IT, REIT's, Industrials and Financials sectors. The portfolio is significantly more heavily weighted towards the Discretionary sector than the Benchmark (ASX300 Accumulation Index), with an 'Active Weight' of 20.8%. It is also significantly underweight the Financials sector by comparison with the Benchmark, with an 'Active Weight' of -22.1%. The Fund aims to invest in a concentrated portfolio of high quality companies with strong growth outlooks, underestimated earnings momentum and underestimated prospects. By comparison with the Benchmark, the portfolio's holdings, on average, have a higher return on equity, lower debt/equity, higher sales growth, higher EPS growth, higher price/earnings and lower dividend yield which together indicate that the Fund is in line with its investment objectives.
More Information	View Fund's Profile View Manager's Report

Retail REITs Still Look Cheap

20 Aug 2020 - Nikko AM

COVID-19 battered retail real estate names as tenants were forced into lockdown and activity was halted. The tenant base that was becoming increasingly militant in their engagement with landlords accelerated their assertiveness when...

Performance Report: Cyan C3G Fund

19 Aug 2020 - Australian Fund Monitors

The Cyan C3G Fund rose +9.9% in July, outperforming the ASX200 Accumulation Index by +9.4% and taking annualised performance since inception in August 2014 to +14.53% against the Index's annualised return over the same period of +5.24%.

19 Aug 2020 - Performance Report: Cyan C3G Fund

By: Australian Fund Monitors

Report Date	19 August 2020
Manager	Cyan Investment Management
Fund Name	Cyan C3G Fund
Strategy	Equity Long
Latest Return Date	July 2020
Latest Return	9.90%
Latest 6 Months	-8.26%
Latest 12 Months	-9.24%
Latest 24 Months (pa)	-2.57%
Annualised Since Inception	14.53%
Inception Date	24 July 2014
FUM (millions)	AU$38
Fund Overview	The Cyan C3G Fund operates as a wholesale unregistered managed investment scheme under a unit trust structure. The Fund primarily invests in ASX listed companies outside the ASX 100 and typically holds between 15-35 stocks. 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 rose +9.9% in July, outperforming the ASX200 Accumulation Index by +9.4% and taking annualised performance since inception in August 2014 to +14.53% against the Index's annualised return over the same period of +5.24%. The Fund's capacity to perform well in negative markets is highlighted by its Sortino ratio for performance since inception of 1.09 versus the Index's 0.32 and down-capture ratio of 53.89%. The Fund's down-capture ratio indicates that, on average, the Fund has fallen approximately half as much as the market during the market's negative months. Cyan believe the Fund's strong performance in July is attributable to the decisions the team made back in February and March. Top contributors in July included QuickFee, ReadCloud, City Chic, Pinnacle, Jumbo Interactive, New Zealand Coastal Seafoods and Schrole. In Cyan's view, the investment environment remains interesting, with the obvious economic impacts of COVID-19 and associated declines in business confidence being countered by government stimulus packages and largely buoyant consumer behaviour.
More Information	View Fund's Profile View Manager's Report

New Funds on Fundmonitors.com

19 Aug 2020 - Australian Fund Monitors

Here are some of the latest additions to our database. Follow the links to view each fund's profile, where you'll have access to their offer documents, monthly reports, historical returns, performance analytics, rankings, research,...

19 Aug 2020 - New Funds on Fundmonitors.com

By: Australian Fund Monitors

New Funds on Fundmonitors.com

Below are some of the funds we've recently added to our database. Follow the links to view each fund's profile, where you'll have access to their offer documents, monthly reports, historical returns, performance analytics, rankings, research, platform availability, and news & insights.

ECP Growth Companies Fund

Inception date: January 2020
Strategy: Equity Long
Geographic mandate: Australia
Investor type: Retail

Minimum initial investment: AU$20,000
Distributions: Annually
Management fee: 0.9%
Performance fee: 15.375%

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Realside Adelaide Office Fund

Inception date: March 2020
Strategy: Real Estate
Geographic mandate: Australia
Investor type: Wholesale

Minimum initial investment: AU$100,000
Distributions: Quarterly
Management fee: 0.05%
Performance fee: 12.5%

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Nikko AM ARK Global Disruptive Innovation Fund

Inception date: August 2018
Strategy: Equity Long
Geographic mandate: Global
Investor type: Wholesale & Retail

Minimum initial investment: AU$10,000
Distributions: N/A
Management fee: 1.35%
Performance fee: Nil

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Nikko AM Australian Share Concentrated Fund

Inception date: May 2010
Strategy: Equity Long
Geographic mandate: Australia
Investor type: Wholesale & Retail

Minimum initial investment: AU$10,000
Distributions: Quarterly
Management fee: 1%
Performance fee: Nil

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Nikko AM Australian Share Income Fund

Inception date: November 2008
Strategy: Equity Long
Geographic mandate: Australia
Investor type: Wholesale & Retail

Minimum initial investment: AU$10,000
Distributions: Quarterly
Management fee: 0.85%
Performance fee: Nil

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Nikko AM Australian Share Wholesale Fund

Inception date: March 1995
Strategy: Equity Long
Geographic mandate: Australia
Investor type: Wholesale & Retail

Minimum initial investment: AU$10,000
Distributions: 6 Monthly
Management fee: 0.8%
Performance fee: Nil

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Nikko AM New Asia Fund

Inception date: November 2005
Strategy: Equity Long
Geographic mandate: Asia ex-Japan
Investor type: Wholesale & Retail

Minimum initial investment: AU$10,000
Distributions: Annually
Management fee: 1.03%
Performance fee: 10.25%

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Performance Report: Quay Global Real Estate Fund

19 Aug 2020 - Australian Fund Monitors

The Quay Global Real Estate Fund returned -0.5% in July. This return comprised +2.3% from underlying stock performance and -2.8% from the impact of currency. Since inception in Jan 2016, the Fund has returned +5.30% p.a. with an annualised...

19 Aug 2020 - Performance Report: Quay Global Real Estate Fund

By: Australian Fund Monitors

Report Date	18 August 2020
Manager	Quay Global Investors
Fund Name	Quay Global Real Estate Fund
Strategy	Real Estate
Latest Return Date	July 2020
Latest Return	-0.54%
Latest 6 Months	-19.46%
Latest 12 Months	-11.71%
Latest 24 Months (pa)	2.00%
Annualised Since Inception	5.30%
Inception Date	31 July 2014
FUM (millions)	AU$164.6
Fund Overview	Quay is a boutique investment management business established in 2013 with a focus on preserving and creating wealth for investors through investments in real estate securities. Quay uses a dual manager approach to the investment and portfolio management decision making process. This involves both Principals collaborating to determine significant portfolio investments and positions. 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 returned -0.5% in July. This return comprised +2.3% from underlying stock performance and -2.8% from the impact of currency. Since inception in Jan 2016, the Fund has returned +5.30% p.a. with an annualised volatility of 12.02%. For the month, the greatest positive contributions to returns were from Safestore (UK Storage), Leg Immobilien (German Residential) and Stag Industrial (US Industrial). Key detractors included Wharf REIC (HK Retail), Hysan (HK Diversified) and Brixmor (US Retail). Quay noted that, thematically, the market continues to support those stocks that are perceived to have the most defensive revenue profiles - Industrials, Data Centres and European Residential and Health as examples. At the other end of the spectrum, sectors like Retail, Hong Kong, Urban Residential and Seniors Housing have lagged. However, post month-end and part-way through 2Q20 reporting season they are seeing some strength return to some of these laggards as they deliver results slightly ahead of what were dismal expectations.
More Information	View Fund's Profile View Manager's Report

Performance Report: Glenmore Australian Equities Fund

18 Aug 2020 - Australian Fund Monitors

The Glenmore Australian Equities Fund rose +1.41% in July, outperforming the ASX200 Accumulation Index by +0.91% and taking annualised performance since inception in June 2017 to +15.52% against the Index's annualised return over the same...

18 Aug 2020 - Performance Report: Glenmore Australian Equities Fund

By: Australian Fund Monitors

Report Date	18 August 2020
Manager	Glenmore Asset Management Pty Ltd
Fund Name	Glenmore Australian Equities Fund
Strategy	Equity Long
Latest Return Date	July 2020
Latest Return	1.41%
Latest 6 Months	-15.83%
Latest 12 Months	-15.51%
Latest 24 Months (pa)	5.35%
Annualised Since Inception	15.52%
Inception Date	06 June 2017
FUM (millions)	AU$8
Fund Overview	The Fund is index unaware with an absolute return focus. The Fund seeks to invest in companies generating strong cashflows at attractive valuations. In absence of attractive investments being identified, the fund will hold cash. Glenmore will use a fundamental, research driven investment process to identify undervalued securities. 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 Glenmore Australian Equities Fund rose +1.41% in July, outperforming the ASX200 Accumulation Index by +0.91% and taking annualised performance since inception in June 2017 to +15.52% against the Index's annualised return over the same period of +5.13%. The Fund's up-capture ratio for performance since inception of 194.54% indicates that, on average, the Fund has risen almost twice as much as the market during the market's positive months. The Fund's Sharpe ratio of 0.69 versus the Index's 0.33 highlights the Fund's capacity to achieve superior risk-adjusted returns over the long-term. Top contributors in July included Mineral Resources and Temple and Webster. Key detractors included Polynovo, Integral Diagnostics and Fiducian Group. Polynovo released a brief trading update in July which was in line with Glenmore's expectations, with the key takeaway being that strong sales growth has continued despite COVID-19 having some impact on opening new accounts. Glenmore noted the Australian economy continues to be significantly assisted by government stimulus and they see the removal of that stimulus (e.g. JobKeeper and JobSeeker) to be a risk over the next 12-18 months. Despite this, they believe the portfolio's companies are well positioned to navigate the current environment.
More Information	View Fund's Profile View Manager's Report

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21 Aug 2020 - Performance Report: NWQ Fiduciary Fund

21 Aug 2020 - Manager Insights | Gyrostat Capital Management

20 Aug 2020 - Gyrations: August 2020

20 Aug 2020 - Presentation - Gyrostat Absolute Return Income Equity Fund

20 Aug 2020 - Performance Report: Bennelong Concentrated Australian Equities Fund

20 Aug 2020 - Retail REITs Still Look Cheap

19 Aug 2020 - Performance Report: Cyan C3G Fund

19 Aug 2020 - New Funds on Fundmonitors.com

19 Aug 2020 - Performance Report: Quay Global Real Estate Fund

18 Aug 2020 - Performance Report: Glenmore Australian Equities Fund

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