CC Sage Capital Absolute Return Fund

Performance Summary as at May 2024

The CC Sage Capital Absolute Return Fund has a track record of 4 years and 10 months and therefore comparison over all market conditions and against its peers is limited. However, the fund has outperformed the ASX 200 Total Return benchmark since inception in August 2019, providing investors with an annualised return of 8.79% compared with the benchmark's return of 6.66% over the same period.

On a calendar year basis, the fund has only experienced a negative annual return once in the 4 years and 10 months since its inception. Over the past 12 months, the fund's largest drawdown was -5.18% vs the index's -7.19%, and since inception in August 2019 the fund's largest drawdown was -5.45% vs the index's maximum drawdown over the same period of -26.75%. The fund's maximum drawdown began in June 2023 and lasted 10 months, reaching its lowest point during December 2023. The fund had completely recovered its losses by April 2024. During this period, the index's maximum drawdown was -7.19%.

The Manager has delivered these returns with 10.18% less volatility than the benchmark, contributing to a Sharpe ratio which has fallen below 1 four times over the past four years and which currently sits at 1.1 since inception. The fund has provided positive monthly returns 61% of the time in rising markets and 77% of the time during periods of market decline, contributing to an up-capture ratio since inception of 6% and a down-capture ratio of -54%.