Index Used: | Barclay Hedge Global Macro Index | Discretionary/Quantitative: | Discretionary |
Peer Group: | Multi-Sector | FUM (millions): | Undisclosed |
Investment Style: | Blend | Fund Inception Date: | February 2021 |
Geographic Mandate: | Global | Latest Return Date: | March 2024 |
Investor Type: | Wholesale | Status: | Open |
Minimum Investment: | AU$ 100,000 | Investment Frequency: | Monthly |
Management Fee: | 0.8% | Performance Fee: | 20% |
Buy Spread: | 0.4% | Sell spread: | 0.4% |
High Water Mark: | Yes | Hurdle: | RBA Cash Rate |
Offshore/Onshore: | Onshore | Fund Structure: | Unit Trust |
Share Classes: | AU$ | Trustee/RE: | Boutique Capital |
Administrator: | Boutique Capital | Prime Broker: | Interactive Brokers |
Custodian: | Boutique Capital | Legal: | N/A |
The WealthLander Diversified Alternative Fund has a track record of 3 years and 2 months and therefore comparison over all market conditions and against its peers is limited. However, the fund has underperformed the Barclay Hedge Global Macro benchmark since inception in February 2021, providing investors with an annualised return of 0.33% compared with the benchmark's return of 7.81% over the same period.
The Manager has delivered these returns with 4.06% more volatility than the benchmark, contributing to a Sharpe ratio which has fallen below 1 three times over the past three years and which currently sits at -0.13 since inception. The fund has provided positive monthly returns 70% of the time in rising markets and 40% of the time during periods of market decline, contributing to an up-capture ratio since inception of 41% and a down-capture ratio of 130%.
The WealthLander Diversified Alternative Fund rose by +4.4% in March, an outperformance of +1.65% compared with the Barclay Hedge Global Macro benchmark which rose by +2.75%. Over the past 12 months, the fund's best monthly return was +4.4% compared with the benchmark's best return of +2.75%, and its worst monthly return was -4.6% vs the benchmark's worst return over the same period of -1.44%.
Year | Jan % | Feb % | Mar % | Apr % | May % | Jun % | Jul % | Aug % | Sep % | Oct % | Nov % | Dec % | YTD % |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2024 | 0.30 | -4.60 | 4.40 | NA | NA | NA | NA | NA | NA | NA | NA | NA | -0.10 |
2023 | -2.90 | -1.50 | -1.90 | -0.80 | -2.20 | 0.00 | 2.30 | -0.80 | 0.30 | -3.40 | -3.80 | 2.80 | -11.49 |
2022 | 0.30 | 0.30 | 2.10 | -1.90 | -5.30 | -5.00 | 2.50 | 2.10 | 1.10 | 0.50 | -1.30 | 0.90 | -4.01 |
2021 | NA | 0.70 | 1.70 | 5.40 | -0.80 | -1.30 | 2.00 | 5.20 | 0.30 | 2.70 | 3.20 | -1.25 | 19.05 |
Over the past 12 months, the fund has returned -5.76% compared with the benchmark which has returned +9.78%, for a difference of -15.54%. Since inception in February 2021, the fund has returned +0.33% per annum, a difference of -7.48% relative to the benchmark which has returned +7.81% on an annualised basis over the same period.
On a cumulative basis (assuming reinvestment of distributions), $100 invested since inception would have become $101. The same amount invested in the benchmark over the same period would have become $126.
The fund's returns over the past 12 months have been achieved with a volatility of 9.13% vs the index's 4.75%. The annualised volatility of the fund's returns since inception in February 2021 is 9.08% vs the index's 5.02%. Over the past 24 and 36 month periods, the fund's returns have had an annualised volatility of 8.88% and 9.27% respectively, higher than the benchmark's annualised volatility over each of those periods; 4.54% (24 months), 5.04% (36 months).
The fund's Sharpe ratio has ranged from a high of -0.22 for performance over the most recent 36 months to a low of -1.38 over the latest 24 months, and is -0.13 for performance since inception. By contrast, the Barclay Hedge Global Macro Index's Sharpe for performance since February 2021 is 1.12.
Since inception in February 2021 in the months where the market was positive, the fund has provided positive returns 70% of the time, contributing to an up-capture ratio for returns since inception of 41.17%. Over all other periods, the fund's up-capture ratio has ranged from a high of 39.5% over the most recent 36 months to a low of -0.35% over the latest 24 months.
Since inception in February 2021 in the months where the market was negative, the fund has provided positive returns 40% of the time, contributing to a down-capture ratio for returns since inception of 130.41%. Over all other periods, the fund's down-capture ratio has ranged from a high of 235.84% over the most recent 12 months to a low of 130.41% over the latest 36 months.
The fund's Sortino ratio (which excludes volatility in positive months) has ranged from a high of -0.36 for performance over the most recent 36 months to a low of -1.49 over the latest 24 months, and is -0.24 for performance since inception. By contrast, the Barclay Hedge Global Macro Index's Sortino for performance since February 2021 is 2.32.
Over the past 12 months, the fund's largest drawdown was -9.05% vs the index's -1.93%, and since inception in February 2021 the fund's largest drawdown was -20.85% vs the index's maximum drawdown over the same period of -2.68%.
The WealthLander Diversified Alternative Fund is not ranked in the first or second quintile for any KPI.
Over the past 12 months, the fund has returned -5.76% compared with the peer group which has returned an average of +7.03%, for a difference of -12.79%.
The fund's returns over the past 12 months have been achieved with a volatility of 9.13% vs the peer group's average volatility of 4.62%. The annualised volatility of the fund's returns since inception in February 2021 is 9.08% vs the peer group's 5.03%. Over the past 24 and 36 month periods, the fund's returns have had an annualised volatility of 8.88% and 9.27% respectively, higher than the peer group's annualised volatility over each of those periods; 5.44% (24 months), 4.99% (36 months).
No Quintile data found for peer group benchmark Barclay Hedge Global Macro Index