NEWS
Performance Report: ASCF High Yield Fund
11 Mar 2022 - FundMonitors.com
The ASCF High Yield Fund rose by +0.5% in February, an outperformance of +1.71% compared with the Bloomberg AusBond Composite 0+ Yr Index which fell by -1.21%. The fund has outperformed the index since inception in March 2017, providing...
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11 Mar 2022 - Performance Report: ASCF High Yield Fund
By: FundMonitors.com
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| Fund Overview | Does not require full valuations on loans <65% LVR. Borrowing rates are from 12% per annum on 1st mortgage loans and 16% per annum on 2nd mortgage/caveat loans. Pays investors between 5.55% - 6.25% per annum depending on their investment term. |
| Manager Comments | The ASCF High Yield Fund has a track record of 5 years and has outperformed the Bloomberg AusBond Composite 0+ Yr Index since inception in March 2017, providing investors with an annualised return of 8.73% compared with the index's return of 2.73% over the same period. On a calendar year basis, the fund hasn't experienced any negative annual returns in the 5 years since its inception. The fund hasn't had any negative monthly returns and therefore hasn't experienced a drawdown. Since the fund's inception, the index's largest drawdown was -5.39%. The Manager has delivered these returns with 3.37% less volatility than the index, contributing to a Sharpe ratio which has consistently remained above 1 over the past five years and which currently sits at 23.78 since inception. The fund has provided positive monthly returns 100% of the time in rising markets and 100% of the time during periods of market decline, contributing to an up-capture ratio since inception of 87% and a down-capture ratio of -92%. |
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Performance Report: Airlie Australian Share Fund
11 Mar 2022 - FundMonitors.com
Over the past 12 months, the Airlie Australian Share Fund has risen by +19.37% compared with the ASX 200 Total Return Index which has returned +10.19%, for a difference of +9.18%. The fund has outperformed the index since inception in June...
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11 Mar 2022 - 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 9 months and therefore comparison over all market conditions and against its peers is limited. However, the fund has outperformed the ASX 200 Total Return Index since inception in June 2018, providing investors with an annualised return of 11.71% compared with the index's return of 8.33% over the same period. On a calendar year basis, the fund hasn't experienced any negative annual returns in the 3 years and 9 months since its inception. Over the past 12 months, the fund's largest drawdown was -6.79% vs the index's -6.35%, and since inception in June 2018 the fund's largest drawdown was -23.8% vs the index's maximum drawdown over the same period of -26.75%. The fund's maximum drawdown began in February 2020 and lasted 9 months, reaching its lowest point during March 2020. The fund had completely recovered its losses by November 2020. The Manager has delivered these returns with 0.35% less volatility than the index, contributing to a Sharpe ratio which has fallen below 1 two times over the past three years and which currently sits at 0.75 since inception. The fund has provided positive monthly returns 97% of the time in rising markets and 14% of the time during periods of market decline, contributing to an up-capture ratio since inception of 109% and a down-capture ratio of 92%. |
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Performance Report: 4D Global Infrastructure Fund
11 Mar 2022 - FundMonitors.com
The 4D Global Infrastructure Fund returned -1.76% in February, a difference of -0.56% compared with the S&P Global Infrastructure TR (AUD) Index which fell by -1.2%. The fund has outperformed the index since inception in March 2016,...
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11 Mar 2022 - Performance Report: 4D Global Infrastructure Fund
By: FundMonitors.com
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| Fund Overview | The fund is managed as a single portfolio including regulated utilities in gas, electricity and water, transport infrastructure such as airports, ports, road and rail, as well as communication assets such as the towers and satellite sectors. The portfolio is intended to have exposure to both developed and emerging market opportunities, with country risk assessed internally before any investment is considered. The maximum absolute position of an individual stock is 7% of the fund. |
| Manager Comments | The 4D Global Infrastructure Fund has a track record of 6 years and has outperformed the S&P Global Infrastructure TR (AUD) Index since inception in March 2016, providing investors with an annualised return of 9.33% compared with the index's return of 8.3% over the same period. On a calendar year basis, the fund has experienced a negative annual return on 2 occasions in the 6 years since its inception. Over the past 12 months, the fund's largest drawdown was -3.9% vs the index's -1.2%, and since inception in March 2016 the fund's largest drawdown was -19.77% vs the index's maximum drawdown over the same period of -24.67%. The fund's maximum drawdown began in February 2020 and has lasted 2 years, reaching its lowest point during September 2020. The Manager has delivered these returns with 0.53% less volatility than the index, contributing to a Sharpe ratio which has fallen below 1 four times over the past five years and which currently sits at 0.73 since inception. The fund has provided positive monthly returns 95% of the time in rising markets and 14% of the time during periods of market decline, contributing to an up-capture ratio since inception of 101% and a down-capture ratio of 95%. |
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Performance Report: Bennelong Concentrated Australian Equities Fund
10 Mar 2022 - FundMonitors.com
Over the past 12 months, the Bennelong Concentrated Australian Equities Fund has risen by +3.15%. The fund has outperformed the ASX 200 Total Return Index since inception in February 2009, providing investors with an annualised return of...
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10 Mar 2022 - Performance Report: Bennelong Concentrated Australian Equities Fund
By: FundMonitors.com
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| Manager Comments | The Bennelong Concentrated Australian Equities Fund has a track record of 13 years and 1 month and has outperformed the ASX 200 Total Return Index since inception in February 2009, providing investors with an annualised return of 15.6% compared with the index's return of 10.02% over the same period. The Manager has delivered these returns with 1.8% more volatility than the index, contributing to a Sharpe ratio which has fallen below 1 five times over the past five years and which currently sits at 0.89 since inception. The fund has provided positive monthly returns 90% of the time in rising markets and 20% of the time during periods of market decline, contributing to an up-capture ratio since inception of 143% and a down-capture ratio of 93%. |
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Performance Report: L1 Capital Long Short Fund (Monthly Class)
9 Mar 2022 - FundMonitors.com
The L1 Capital Long Short Fund (Monthly Class) rose by +7% in February, an outperformance of +4.86% compared with the ASX 200 Total Return Index which rose by +2.14%. The fund has outperformed the index since inception in September 2014,...
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9 Mar 2022 - Performance Report: L1 Capital Long Short Fund (Monthly Class)
By: FundMonitors.com
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| Fund Overview | L1 Capital uses a combination of discretionary and quantitative methods to identify securities with the potential to provide attractive risk-adjusted returns. The discretionary element of the investment process entails regular meetings with company management and other stakeholders as well as frequent reading and analysis of annual reports and other relevant publications and communications. The quantitative element of the investment process makes use of bottom-up research to maintain financial models such as the Discounted Cashflow model (DCF) which is used as a means of assessing the intrinsic value of a given security. Stocks with the best combination of qualitative factors and valuation upside are used as the basis for portfolio construction. The process is iterative and as business trends, industry structure, management quality or valuation changes, stock weights are adjusted accordingly. |
| Manager Comments | The L1 Capital Long Short Fund (Monthly Class) has a track record of 7 years and 6 months and has outperformed the ASX 200 Total Return Index since inception in September 2014, providing investors with an annualised return of 23.61% compared with the index's return of 7.37% over the same period. Over the past 12 months, the fund's largest drawdown was -7.21% vs the index's -6.35%, and since inception in September 2014 the fund's largest drawdown was -39.11% vs the index's maximum drawdown over the same period of -26.75%. The fund's maximum drawdown began in February 2018 and lasted 2 years and 9 months, reaching its lowest point during March 2020. The fund had completely recovered its losses by November 2020. The Manager has delivered these returns with 6.7% more volatility than the index, contributing to a Sharpe ratio which has fallen below 1 three times over the past five years and which currently sits at 1.07 since inception. The fund has provided positive monthly returns 79% of the time in rising markets and 64% of the time during periods of market decline, contributing to an up-capture ratio since inception of 100% and a down-capture ratio of 3%. |
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Performance Report: Bennelong Australian Equities Fund
9 Mar 2022 - FundMonitors.com
The Bennelong Australian Equities Fund has a track record of 13 years and 1 month and has outperformed the ASX 200 Total Return Index since inception in February 2009, providing investors with an annualised return of 13.85% compared with...
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9 Mar 2022 - Performance Report: Bennelong Australian Equities Fund
By: FundMonitors.com
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| Manager Comments | The Bennelong Australian Equities Fund has a track record of 13 years and 1 month and has outperformed the ASX 200 Total Return Index since inception in February 2009, providing investors with an annualised return of 13.85% compared with the index's return of 10.02% over the same period. Over the past 12 months, the fund's largest drawdown was -15.96% vs the index's -6.35%, and since inception in February 2009 the fund's largest drawdown was -24.32% vs the index's maximum drawdown over the same period of -26.75%. The fund's maximum drawdown began in February 2020 and lasted 6 months, reaching its lowest point during March 2020. The fund had completely recovered its losses by August 2020. The Manager has delivered these returns with 1.34% more volatility than the index, contributing to a Sharpe ratio which has fallen below 1 five times over the past five years and which currently sits at 0.81 since inception. The fund has provided positive monthly returns 91% of the time in rising markets and 18% of the time during periods of market decline, contributing to an up-capture ratio since inception of 135% and a down-capture ratio of 97%. |
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Performance Report: Quay Global Real Estate Fund (Unhedged)
8 Mar 2022 - FundMonitors.com
Over the past 12 months, the Quay Global Real Estate Fund (Unhedged) has risen by +20.78%. The fund has outperformed the index since inception in January 2016, providing investors with an annualised return of 8.92% compared with the...
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8 Mar 2022 - Performance Report: Quay Global Real Estate Fund (Unhedged)
By: FundMonitors.com
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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 Manager has delivered these returns with 8.35% less volatility than the index, contributing to a Sharpe ratio which has fallen below 1 four times over the past five years and which currently sits at 0.69 since inception. The fund has provided positive monthly returns 76% of the time in rising markets and 25% of the time during periods of market decline, contributing to an up-capture ratio since inception of 41% and a down-capture ratio of 56%. The Quay Global Real Estate Fund (Unhedged) returned -4.89% in February, a difference of -6.31% compared with the S&P/ASX 200 A-REIT Index which rose by +1.42%. Over the past 12 months, the fund has risen by +20.78% compared with the index which has returned +23.93%, for a difference of -3.15%. |
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Performance Report: Bennelong Kardinia Absolute Return Fund
8 Mar 2022 - FundMonitors.com
The Bennelong Kardinia Absolute Return Fund has a track record of 15 years and 10 months and has outperformed the ASX 200 Total Return Index since inception in May 2006, providing investors with an annualised return of 8.03% compared with...
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8 Mar 2022 - Performance Report: Bennelong Kardinia Absolute Return Fund
By: FundMonitors.com
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| Fund Overview | There is a slight bias to large cap stocks on the long side of the portfolio, although in a rising market the portfolio will tend to hold smaller caps, including resource stocks, more frequently. On the short side, the portfolio is particularly concentrated, with stock selection limited by both liquidity and the difficulty of borrowing stock in smaller cap companies. Short positions are only taken when there is a high conviction view on the specific stock. The Fund uses derivatives in a limited way, mainly selling short dated covered call options to generate additional income. These typically have less than 30 days to expiry, and are usually 5% to 10% out of the money. ASX SPI futures and index put options can be used to hedge the portfolio's overall net position. The Fund's discretionary investment strategy commences with a macro view of the economy and direction to establish the portfolio's desired market exposure. Following this detailed sector and company research is gathered from knowledge of the individual stocks in the Fund's universe, with widespread use of broker research. Company visits, presentations and discussions with management at CEO and CFO level are used wherever possible to assess management quality across a range of criteria. |
| Manager Comments | The Manager has delivered these returns with 6.42% less volatility than the index, contributing to a Sharpe ratio which has fallen below 1 three times over the past five years and which currently sits at 0.67 since inception. The fund has provided positive monthly returns 86% of the time in rising markets and 33% of the time during periods of market decline, contributing to an up-capture ratio since inception of 17% and a down-capture ratio of 52%. The Bennelong Kardinia Absolute Return Fund returned -1.72% in February, a difference of -3.86% compared with the ASX 200 Total Return Index which rose by +2.14%. Over the past 12 months, the fund has returned -3.08% compared with the index which has returned +10.19%, for a difference of -13.27%. |
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Performance Report: DS Capital Growth Fund
7 Mar 2022 - FundMonitors.com
Over the past 12 months, the DS Capital Growth Fund has risen by +3.45% and since inception in January 2013 has outperformed the ASX 200 Total Return Index, providing investors with an annualised return of 14.56% compared with the index's...
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7 Mar 2022 - Performance Report: DS Capital Growth Fund
By: FundMonitors.com
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| Fund Overview | The investment team looks for industrial businesses that are simple to understand, generally avoiding large caps, pure mining, biotech and start-ups. They also look for: - Access to management; - Businesses with a competitive edge; - Profitable companies with good margins, organic growth prospects, strong market position and a track record of healthy dividend growth; - Sectors with structural advantage and barriers to entry; - 15% p.a. pre-tax compound return on each holding; and - A history of stable and predictable cash flows that DS Capital can understand and value. |
| Manager Comments | The DS Capital Growth Fund has a track record of 9 years and 2 months and has outperformed the ASX 200 Total Return Index since inception in January 2013, providing investors with an annualised return of 14.56% compared with the index's return of 9.07% over the same period. The Manager has delivered these returns with 2.01% less volatility than the index, contributing to a Sharpe ratio which currently sits at 1.13 since inception. The fund has provided positive monthly returns 89% of the time in rising markets and 36% of the time during periods of market decline, contributing to an up-capture ratio since inception of 68% and a down-capture ratio of 51%. |
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Performance Report: AIM Global High Conviction Fund
4 Mar 2022 - FundMonitors.com
Over the past 12 months, the AIM Global High Conviction Fund has risen by +19.25% compared with the Global Equity Index which has returned +14.14%, for a difference of +5.11%. The fund has outperformed the index since inception in July...
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4 Mar 2022 - Performance Report: AIM Global High Conviction Fund
By: FundMonitors.com
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| Fund Overview | AIM are 'business-first' rather than 'security-first' investors, and see themselves as part owners of the businesses they invest in. AIM look for the following characteristics in the businesses they want to own: - Strong competitive advantages that enable consistently high returns on capital throughout an economic cycle, combined with the ability to reinvest surplus capital at high marginal returns. - A proven ability to generate and grow cash flows, rather than accounting based earnings. - A strong balance sheet and sensible capital structure to reduce the risk of failure when the economic cycle ends or an unexpected crisis occurs. - Honest and shareholder-aligned management teams that understand the principles behind value creation and have a proven track record of capital allocation. They look to buy businesses that meet these criteria at attractive valuations, and then intend to hold them for long periods of time. AIM intend to own between 15 and 25 businesses at any given point. They do not seek to generate returns by constantly having to trade in and out of businesses. Instead, they believe the Fund's long-term return will approximate the underlying economics of the businesses they own. They are bottom-up, fundamental investors. They are cognizant of macro-economic conditions and geo-political risks, however, they do not construct the Fund to take advantage of such events. AIM intend for the portfolio to be between 90% and 100% invested in equities. AIM do not engage in shorting, nor do they use leverage to enhance returns. The Fund's investable universe is global, and AIM look for businesses that have a market capitalisation of at least $7.5bn to guarantee sufficient liquidity to investors. |
| Manager Comments | The AIM Global High Conviction Fund has a track record of 2 years and 8 months and therefore comparison over all market conditions and against its peers is limited. However, the fund has outperformed the Global Equity Index since inception in July 2019, providing investors with an annualised return of 14.08% compared with the index's return of 11.68% over the same period. The Manager has delivered these returns with 0.68% more volatility than the index, contributing to a Sharpe ratio for performance over the past 12 months of 1.37 and for performance since inception of 1.16. The fund has provided positive monthly returns 90% of the time in rising markets and 0% of the time during periods of market decline, contributing to an up-capture ratio since inception of 112% and a down-capture ratio of 98%. |
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