Bentham Global Income Fund (NZD)

Performance Summary as at May 2024

The Bentham Global Income Fund (NZD) has a track record of 10 years and 8 months and has outperformed the Bloomberg AusBond Composite 0+ Yr benchmark since inception in October 2013, providing investors with an annualised return of 5.15% compared with the benchmark's return of 2.45% over the same period.

On a calendar year basis, the fund hasn't experienced any negative annual returns in the 10 years and 8 months since its inception. Over the past 12 months, the fund's largest drawdown was -1.86% vs the index's -3.35%, and since inception in October 2013 the fund's largest drawdown was -9.1% vs the index's maximum drawdown over the same period of -13.2%. The fund's maximum drawdown began in February 2020 and lasted 6 months, reaching its lowest point during March 2020. The fund had completely recovered its losses by August 2020. During this period, the index's maximum drawdown was -0.42%.

The Manager has delivered these returns with 0.72% 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 0.69 since inception. The fund has provided positive monthly returns 77% of the time in rising markets and 65% of the time during periods of market decline, contributing to an up-capture ratio since inception of 55% and a down-capture ratio of -17%.