Bentham Global Income Fund

Performance Summary as at June 2024

The Bentham Global Income Fund has a track record of 20 years and 9 months and has outperformed the Bloomberg AusBond Composite 0+ Yr benchmark since inception in October 2003, providing investors with an annualised return of 6.27% compared with the benchmark's return of 4.28% over the same period.

On a calendar year basis, the fund has experienced a negative annual return on 2 occasions in the 20 years and 9 months since its inception. Over the past 12 months, the fund's largest drawdown was -1.91% vs the index's -3.35%, and since inception in October 2003 the fund's largest drawdown was -34.88% vs the index's maximum drawdown over the same period of -13.2%. The fund's maximum drawdown began in November 2007 and lasted 2 years, reaching its lowest point during February 2009. The fund had completely recovered its losses by November 2009. During this period, the index's maximum drawdown was -2.43%.

The Manager has delivered these returns with 3.73% 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 0.43 since inception. The fund has provided positive monthly returns 78% 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 41% and a down-capture ratio of -99%.