Nikko AM New Asia Fund

Performance Summary as at January 2023

The Nikko AM New Asia Fund has a track record of 17 years and 3 months and has outperformed the MSCI All Country Asia Pacific ex-Japan benchmark since inception in November 2005, providing investors with an annualised return of 6.34% compared with the benchmark's return of 4.37% over the same period.

On a calendar year basis, the fund has experienced a negative annual return on 6 occasions in the 17 years and 3 months since its inception. Over the past 12 months, the fund's largest drawdown was -20.43% vs the index's -17.63%, and since inception in November 2005 the fund's largest drawdown was -47.59% vs the index's maximum drawdown over the same period of -46.74%. The fund's maximum drawdown began in November 2007 and lasted 7 years and 1 month, reaching its lowest point during February 2009. The fund had completely recovered its losses by December 2014.

The Manager has delivered these returns with 1.44% 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 0.3 since inception. The fund has provided positive monthly returns 85% of the time in rising markets and 13% of the time during periods of market decline, contributing to an up-capture ratio since inception of 115% and a down-capture ratio of 98%.