Alphinity Australian Share Fund
30 June 2024
Key Facts
| Index Used: | ASX 200 Total Return | Discretionary/Quantitative: | Discretionary |
| Peer Group: | Equity Long - Large Cap - Australia | FUM (millions): | AU$ 246.85m |
| Investment Style: | Blend | Fund Inception Date: | October 1994 |
| Geographic Mandate: | Australia | Latest Return Date: | June 2024 |
| Investor Type: | Wholesale & Retail | Status: | Open |
| Minimum Investment: | AU$ 10,000 | Investment Frequency: | Daily |
Manager Details
In 2015, Alphinity expanded to include a highly experienced and dedicated global investment team applying the same philosophy and process to the large set of investment opportunities outside of Australia.
They identify these companies using a combination of fundamental analysis and specific quantitative inputs.
Strategy Description
Its benchmark is the S&P/ASX 300 Accumulation Index.
Its benchmark is the S&P/ASX 300 Accumulation Index.
Fund Fees
| Management Fee: | 0.9% | Performance Fee: | 0% |
| Buy Spread: | 0.2% | Sell spread: | 0.2% |
| High Water Mark: | Hurdle: | N/A |
Fund Structure
| Offshore/Onshore: | Onshore | Fund Structure: | Unit Trust |
| Share Classes: | AU$ | Trustee/RE: | Fidante Partners |
| Administrator: | N/A | Prime Broker: | N/A |
| Custodian: | N/A | Legal: | N/A |
Ratings & Availability
Research Ratings
Platform Availability
Performance Review
The Alphinity Australian Share Fund has a track record of 29 years and 8 months and has outperformed the ASX 200 Total Return benchmark since inception in November 1994, providing investors with an annualised return of 10.06% compared with the benchmark's return of 8.93% over the same period.
The Manager has delivered these returns with 0.02% 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 0.5 since inception. The fund has provided positive monthly returns 97% of the time in rising markets and 15% of the time during periods of market decline, contributing to an up-capture ratio since inception of 97% and a down-capture ratio of 99%.
The Alphinity Australian Share Fund rose by +1.57% in June, an outperformance of +0.56% compared with the ASX 200 Total Return benchmark which rose by +1.01%. Over the past 12 months, the fund's best monthly return was +6.67% compared with the benchmark's best return of +7.26%, and its worst monthly return was -3.83% vs the benchmark's worst return over the same period of -3.78%.
| Year | Jan % | Feb % | Mar % | Apr % | May % | Jun % | Jul % | Aug % | Sep % | Oct % | Nov % | Dec % | YTD % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 1.49 | 1.14 | 3.08 | -3.83 | 1.26 | 1.57 | NA | NA | NA | NA | NA | NA | 4.66 |
| 2023 | 6.02 | -1.57 | -0.59 | 1.81 | -2.87 | 1.85 | 2.11 | 0.27 | -2.82 | -3.77 | 4.44 | 6.67 | 11.44 |
| 2022 | -5.84 | 2.14 | 5.90 | -1.24 | -2.35 | -8.10 | 4.02 | 2.00 | -6.30 | 6.30 | 5.83 | -3.41 | -2.50 |
| 2021 | -0.26 | 2.40 | 2.95 | 4.04 | 2.14 | 1.80 | 2.06 | 1.95 | -1.38 | 0.13 | -0.26 | 2.61 | 19.64 |
| 2020 | 5.31 | -7.03 | -19.61 | 7.71 | 4.52 | 2.54 | 1.84 | 2.57 | -3.84 | 1.90 | 8.16 | 1.98 | 2.57 |
| 2019 | 3.86 | 7.07 | 0.74 | 2.16 | 1.31 | 4.70 | 2.45 | -2.75 | 1.78 | 0.34 | 2.96 | -2.25 | 24.31 |
| 2018 | 0.07 | 1.35 | -4.06 | 4.97 | 2.06 | 3.59 | 1.71 | 0.79 | -1.44 | -6.50 | -4.03 | -0.88 | -2.96 |
| 2017 | -0.64 | 2.25 | 3.11 | 1.12 | -1.93 | 0.44 | -0.31 | 1.28 | -0.02 | 3.96 | 1.11 | 1.80 | 12.71 |
| 2016 | -5.42 | -2.76 | 4.12 | 2.18 | 3.14 | -2.50 | 6.52 | -1.81 | 0.42 | -1.90 | 3.16 | 4.00 | 8.77 |
| 2015 | 3.01 | 6.30 | 0.68 | -2.15 | 0.52 | -5.50 | 4.96 | -7.76 | -2.53 | 3.88 | 0.59 | 2.62 | 3.69 |
| 2014 | -3.37 | 4.73 | 0.76 | 1.88 | 0.76 | -1.92 | 4.28 | -0.20 | -5.16 | 4.24 | -3.15 | 2.20 | 4.56 |
| 2013 | 5.71 | 5.29 | -1.60 | 5.71 | -4.65 | -2.47 | 5.73 | 2.16 | 2.67 | 4.21 | -0.65 | 0.85 | 24.67 |
| 2012 | 4.81 | 2.37 | 1.37 | 1.67 | -7.29 | 2.07 | 4.21 | 2.84 | 1.52 | 3.65 | 0.87 | 3.42 | 23.09 |
| 2011 | 0.43 | 2.58 | 0.64 | -0.29 | -1.97 | -1.90 | -4.00 | -2.81 | -6.13 | 7.59 | -3.35 | -0.99 | -10.33 |
| 2010 | -6.41 | 2.84 | 6.63 | -1.76 | -6.97 | -3.19 | 4.43 | -3.28 | 4.11 | 2.79 | -1.69 | 3.55 | -0.08 |
| 2009 | -5.00 | -3.49 | 8.83 | 6.69 | 0.94 | 3.61 | 7.49 | 6.58 | 4.79 | -1.46 | 1.50 | 4.37 | 39.52 |
| 2008 | -11.06 | -4.73 | -4.28 | 3.61 | 1.89 | -9.50 | -2.55 | 4.51 | -9.94 | -14.34 | -9.14 | 0.50 | -44.41 |
| 2007 | 1.84 | 0.12 | 4.34 | 2.74 | 2.79 | 0.56 | -2.09 | 0.47 | 4.14 | 1.38 | -1.83 | -2.73 | 12.04 |
| 2006 | 3.30 | 0.43 | 4.97 | 1.60 | -4.01 | 1.98 | -2.28 | 3.96 | 2.72 | 5.12 | 1.99 | 2.95 | 24.73 |
| 2005 | 2.15 | 2.07 | -2.08 | -2.57 | 3.64 | 4.80 | 2.69 | 2.77 | 6.08 | -4.49 | 6.40 | 2.51 | 26.00 |
| 2004 | -1.41 | 2.98 | 1.39 | -0.97 | 1.67 | 2.40 | 0.49 | 0.46 | 4.34 | 3.31 | 5.70 | 3.00 | 25.75 |
| 2003 | -1.52 | -3.43 | 3.48 | 4.17 | 1.41 | 0.76 | 3.34 | 2.53 | 0.13 | 3.93 | -2.02 | 3.82 | 17.49 |
| 2002 | 2.42 | -0.48 | 0.93 | -1.46 | 1.61 | -3.81 | -4.21 | 2.31 | -3.65 | 2.31 | 1.77 | -1.03 | -3.58 |
| 2001 | 3.61 | 0.53 | -3.75 | 6.40 | 2.88 | 6.12 | -4.02 | -1.52 | -4.64 | 7.25 | 2.87 | 1.26 | 17.28 |
| 2000 | -3.54 | 1.37 | -0.87 | 0.30 | -2.31 | 7.98 | -0.53 | 2.08 | 1.21 | 0.17 | 2.05 | -0.33 | 7.36 |
| 1999 | 2.85 | 1.06 | 2.14 | 1.12 | -5.05 | 3.62 | 1.57 | -0.74 | -1.50 | 1.05 | 5.76 | 4.02 | 16.61 |
| 1998 | 0.96 | 4.64 | 0.47 | -0.56 | -2.02 | -0.68 | 1.75 | -6.87 | 5.24 | 1.43 | 6.86 | 3.09 | 14.44 |
| 1997 | 0.75 | 1.81 | -0.03 | 1.66 | 5.65 | 3.00 | 0.35 | -2.95 | 7.24 | -11.14 | 1.17 | 6.31 | 13.26 |
| 1996 | 4.21 | 4.59 | -2.69 | 3.51 | -0.96 | -0.49 | -3.34 | 6.48 | 3.20 | 3.02 | 2.78 | 2.44 | 24.65 |
| 1995 | -3.10 | 4.31 | 0.37 | 6.01 | -0.62 | 0.12 | 4.78 | 0.87 | 1.21 | -2.48 | 4.30 | 1.70 | 18.40 |
| 1994 | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | 0.46 | 1.80 | 2.27 |
Only seven years of data shown. Click here to view all data.
Annual Returns
Over the past 12 months, the fund has risen by +11.63% compared with the benchmark which has returned +12.1%, for a difference of -0.47%. Since inception in November 1994, the fund has returned +10.06% per annum, a difference of +1.13% relative to the benchmark which has returned +8.93% on an annualised basis over the same period.
Cumulative Returns
On a cumulative basis (assuming reinvestment of distributions), $100 invested since inception would have become $1718. The same amount invested in the benchmark over the same period would have become $1265.
Annual Returns %
Volatility and Risk
Annual Standard Deviation
The fund's returns over the past 12 months have been achieved with a volatility of 10.55% vs the index's 10.96%. The annualised volatility of the fund's returns since inception in November 1994 is 13.15% vs the index's 13.17%. Over all other periods, the fund's returns have been consistently less volatile than the benchmark.
Sharpe Ratio
The fund's Sharpe ratio has ranged from a high of 0.8 for performance over the most recent 48 months to a low of 0.35 over the latest 36 months, and is 0.5 for performance since inception. By contrast, the ASX 200 Total Return Index's Sharpe for performance since November 1994 is 0.42.
Annual Standard Deviation
Sharpe Ratio
Performance in Positive Markets
Since inception in November 1994 in the months where the market was positive, the fund has provided positive returns 97% of the time, contributing to an up-capture ratio for returns since inception of 97.11%. Over all other periods, the fund's up-capture ratio has ranged from a high of 97.33% over the most recent 12 months to a low of 94.58% over the latest 36 months.
Performance in Negative Markets
Since inception in November 1994 in the months where the market was negative, the fund has provided positive returns 15% of the time, contributing to a down-capture ratio for returns since inception of 99.38%. Over all other periods, the fund's down-capture ratio has ranged from a high of 100.46% over the most recent 24 months to a low of 96.62% over the latest 36 months. A down-capture ratio less than 100% indicates that, on average, the fund has outperformed in the market's negative months.
Average Return in +ve Market %
Average Return in -ve Market %
Sortino Ratio
The fund's Sortino ratio (which excludes volatility in positive months) has ranged from a high of 1.15 for performance over the most recent 48 months to a low of 0.41 over the latest 36 months, and is 0.61 for performance since inception. By contrast, the ASX 200 Total Return Index's Sortino for performance since November 1994 is 0.49.
Drawdown
Over the past 12 months, the fund's largest drawdown was -6.48% vs the index's -7.19%, and since inception in November 1994 the fund's largest drawdown was -51.33% vs the index's maximum drawdown over the same period of -47.19%.
Sortino Ratio
Drawdown%
Quintile Ranking vs. Average Equity Long - Large Cap - Australia as of May 2024
The performance of the Alphinity Australian Share Fund ranked it in the second quintile for all KPIs over 7 years, while over 5 years the fund ranked in the second quintile for all KPIs except Sharpe and Sortino and over 1 year it ranked in the first or second quintile for all KPIs except Downside Deviation.
Over the past 12 months, the fund has risen by +11.63% compared with the peer group which has returned an average of +10.97%, for a difference of +0.66%.
The fund's returns over the past 12 months have been achieved with a volatility of 10.55% vs the peer group's average volatility of 10.45%. The annualised volatility of the fund's returns since inception in November 1994 is 13.15% vs the peer group's 11.54%. Over all other periods, the fund's volatility relative to the peer group has been varied.