Magellan Core ESG Fund

Performance Summary as at May 2024

The Magellan Core ESG Fund has a track record of 3 years and 5 months and therefore comparison over all market conditions and against its peers is limited. However, the fund has underperformed the All Countries World (AUD) benchmark since inception in January 2021, providing investors with an annualised return of 10.84% compared with the benchmark's return of 12.42% over the same period.

On a calendar year basis, the fund has only experienced a negative annual return once in the 3 years and 5 months since its inception. Over the past 12 months, the fund's largest drawdown was -5.33% vs the index's -6.22%, and since inception in January 2021 the fund's largest drawdown was -20.22% vs the index's maximum drawdown over the same period of -16.02%. The fund's maximum drawdown began in January 2022 and lasted 1 year and 5 months, reaching its lowest point during June 2022. The fund had completely recovered its losses by June 2023.

The Manager has delivered these returns with 2.84% more volatility than the benchmark, contributing to a Sharpe ratio which has fallen below 1 three times over the past three years and which currently sits at 0.68 since inception. The fund has provided positive monthly returns 89% of the time in rising markets and 14% of the time during periods of market decline, contributing to an up-capture ratio since inception of 102% and a down-capture ratio of 112%.