Bentham Asset Backed Securities Fund

Performance Summary as at June 2024

The Bentham Asset Backed Securities Fund has a track record of 6 years and 5 months and has outperformed the Bloomberg AusBond Composite 0+ Yr benchmark since inception in February 2018, providing investors with an annualised return of 2.88% compared with the benchmark's return of 1.27% over the same period.

On a calendar year basis, the fund has only experienced a negative annual return once in the 6 years and 5 months since its inception. Over the past 12 months, the fund's largest drawdown was -1.54% vs the index's -3.35%, and since inception in February 2018 the fund's largest drawdown was -7.84% vs the index's maximum drawdown over the same period of -13.2%. The fund's maximum drawdown began in March 2020 and lasted 8 months, reaching its lowest point during March 2020. The fund had completely recovered its losses by November 2020. During this period, the index's maximum drawdown was -0.42%.

The Manager has delivered these returns with 0.51% less 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 94% of the time in rising markets and 50% of the time during periods of market decline, contributing to an up-capture ratio since inception of 59% and a down-capture ratio of 36%.