Index Used: | All Countries World Index (AUD) | Discretionary/Quantitative: | Discretionary |
Peer Group: | Equity Long - Large Cap - Global | FUM (millions): | AU$ 44.7m |
Investment Style: | Growth | Fund Inception Date: | August 2018 |
Geographic Mandate: | Global | Latest Return Date: | May 2024 |
Investor Type: | Wholesale & Retail | Status: | Open |
Minimum Investment: | AU$ 10,000 | Investment Frequency: | Daily |
Management Fee: | 1.3% | Performance Fee: | 0% |
Buy Spread: | 0.2% | Sell spread: | 0.2% |
High Water Mark: | Hurdle: | N/A |
Offshore/Onshore: | Onshore | Fund Structure: | Unit Trust |
Share Classes: | AU$ | Trustee/RE: | Nikko Asset Management Australia Limited |
Administrator: | BNP Paribas Securities Services | Prime Broker: | N/A |
Custodian: | BNP Paribas Securities Services | Legal: | Internal & External Legal Panel |
The Nikko AM ARK Global Disruptive Innovation Fund has a track record of 5 years and 10 months and has underperformed the All Countries World (AUD) benchmark since inception in August 2018, providing investors with an annualised return of -0.54% compared with the benchmark's return of 11.34% over the same period.
The Manager has delivered these returns with 23.86% more volatility than the benchmark, contributing to a Sharpe ratio which has fallen below 1 five times over the past five years and which currently sits at 0.12 since inception. The fund has provided positive monthly returns 70% of the time in rising markets and 19% of the time during periods of market decline, contributing to an up-capture ratio since inception of 206% and a down-capture ratio of 168%.
The Nikko AM ARK Global Disruptive Innovation Fund returned -3.19% in May, a difference of -4.65% compared with the All Countries World (AUD) benchmark which rose by +1.46%. Over the past 12 months, the fund's best monthly return was +24.12% compared with the benchmark's best return of +5.32%, and its worst monthly return was -10.8% vs the benchmark's worst return over the same period of -3.27%.
Year | Jan % | Feb % | Mar % | Apr % | May % | Jun % | Jul % | Aug % | Sep % | Oct % | Nov % | Dec % | YTD % |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2024 | -9.28 | 13.09 | -2.11 | -10.80 | -3.19 | NA | NA | NA | NA | NA | NA | NA | -13.27 |
2023 | 22.82 | 3.59 | 2.87 | -9.04 | 14.52 | 6.54 | 12.58 | -9.43 | -9.42 | -9.36 | 24.12 | 9.81 | 65.73 |
2022 | -17.91 | -9.17 | -8.21 | -22.65 | -7.58 | -5.90 | 9.16 | -5.18 | -4.13 | 2.47 | -5.78 | -17.11 | -63.44 |
2021 | 10.76 | -6.51 | -6.30 | -1.05 | -7.10 | 19.19 | -6.65 | 3.22 | -7.43 | 5.17 | -8.40 | -12.29 | -19.88 |
2020 | 8.53 | 4.86 | -12.08 | 15.62 | 12.59 | 8.12 | 8.19 | 13.87 | -0.37 | 1.16 | 17.39 | 7.22 | 120.08 |
2019 | 11.09 | 10.24 | 0.65 | 2.12 | -12.26 | 15.77 | 2.85 | -6.19 | -3.37 | 0.24 | 15.33 | -4.07 | 32.20 |
2018 | NA | NA | NA | NA | NA | NA | NA | 0.54 | -5.41 | -8.70 | 0.79 | -9.62 | -20.90 |
Over the past 12 months, the fund has risen by +5.43% compared with the benchmark which has returned +21.18%, for a difference of -15.75%. Since inception in August 2018, the fund has returned -0.54% per annum, a difference of -11.88% relative to the benchmark which has returned +11.34% on an annualised basis over the same period.
On a cumulative basis (assuming reinvestment of distributions), $100 invested since inception would have become $96. The same amount invested in the benchmark over the same period would have become $187.
The fund's returns over the past 12 months have been achieved with a volatility of 38.99% vs the index's 10.52%. The annualised volatility of the fund's returns since inception in August 2018 is 35.45% vs the index's 11.59%. Over all other periods, the fund's returns have been more volatile than the benchmark.
The fund's Sharpe ratio has ranged from a high of 0.22 for performance over the most recent 12 months to a low of -0.5 over the latest 36 months, and is 0.12 for performance since inception. By contrast, the All Countries World (AUD) Index's Sharpe for performance since August 2018 is 0.86.
Since inception in August 2018 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 205.75%. Over all other periods, the fund's up-capture ratio has ranged from a high of 202.11% over the most recent 60 months to a low of 121.86% over the latest 36 months. An up-capture ratio greater than 100% indicates that, on average, the fund has outperformed in the market's positive months.
Since inception in August 2018 in the months where the market was negative, the fund has provided positive returns 19% of the time, contributing to a down-capture ratio for returns since inception of 168.12%. Over all other periods, the fund's down-capture ratio has ranged from a high of 386.58% over the most recent 12 months to a low of 186.15% over the latest 60 months.
The fund's Sortino ratio (which excludes volatility in positive months) has ranged from a high of 0.05 for performance over the most recent 12 months to a low of -0.96 over the latest 36 months, and is -0.09 for performance since inception. By contrast, the All Countries World (AUD) Index's Sortino for performance since August 2018 is 1.27.
Over the past 12 months, the fund's largest drawdown was -25.64% vs the index's -6.22%, and since inception in August 2018 the fund's largest drawdown was -73.55% vs the index's maximum drawdown over the same period of -16.02%.
The Nikko AM ARK Global Disruptive Innovation Fund is not ranked in the first or second quintile for any KPI.
Over the past 12 months, the fund has risen by +5.43% compared with the peer group which has returned an average of +17.29%, for a difference of -11.86%.
The fund's returns over the past 12 months have been achieved with a volatility of 38.99% vs the peer group's average volatility of 10.46%. The annualised volatility of the fund's returns since inception in August 2018 is 35.45% vs the peer group's 11.56%. Over all other periods, the fund's returns have been more volatile than the peer group.