Index Used: | All Countries World Index (AUD) | Discretionary/Quantitative: | Discretionary |
Peer Group: | Equity Long - Large Cap - Global | FUM (millions): | AU$ 82.23m |
Investment Style: | Value | Fund Inception Date: | June 2021 |
Geographic Mandate: | Global | Latest Return Date: | June 2024 |
Investor Type: | Retail | Status: | Open |
Minimum Investment: | AU$ 10,000 | Investment Frequency: | Daily |
The Fund seeks to build a portfolio of high-quality companies, which can have a net positive alignment with one or more of the 17 United Nations'Sustainable Development Goals (SDGs), exceed Alphinity's minimum ESG criteria, and are also identified as undervalued and within an earnings upgrade cycle. Alphinity aims to meet the Fund's investment objectives in a risk-controlled manner with a portfolio that is diversified across different sectors and regions. It searches for businesses with expected positive earnings and price momentum, that are backed by real cash flows, and return on capital and are trading at an attractive valuation. Typically the portfolio will hold 25-40 stocks.
The Fund seeks to build a portfolio of high-quality companies, which can have a net positive alignment with one or more of the 17 United Nations'Sustainable Development Goals (SDGs), exceed Alphinity's minimum ESG criteria, and are also identified as undervalued and within an earnings upgrade cycle. Alphinity aims to meet the Fund's investment objectives in a risk-controlled manner with a portfolio that is diversified across different sectors and regions. It searches for businesses with expected positive earnings and price momentum, that are backed by real cash flows, and return on capital and are trading at an attractive valuation. Typically the portfolio will hold 25-40 stocks.
Management Fee: | 0.75% | Performance Fee: | 10% |
Buy Spread: | 0.25% | Sell spread: | 0.25% |
High Water Mark: | Yes | Hurdle: | RBA Cash Rate |
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 |
The Alphinity Global Sustainable Equity Fund has a track record of 3 years and therefore comparison over all market conditions and against its peers is limited. However, the fund has outperformed the All Countries World (AUD) benchmark since inception in July 2021, providing investors with an annualised return of 10.61% compared with the benchmark's return of 9.25% over the same period.
The Manager has delivered these returns with 3.05% more volatility than the benchmark, contributing to a Sharpe ratio which has only fallen below 1 once over the past three years and which currently sits at 0.62 since inception. The fund has provided positive monthly returns 100% of the time in rising markets and 7% of the time during periods of market decline, contributing to an up-capture ratio since inception of 124% and a down-capture ratio of 118%.
The Alphinity Global Sustainable Equity Fund rose by +2.69% in June, an outperformance of +2.69% compared with the All Countries World (AUD) benchmark which ended the month flat. Over the past 12 months, the fund's best monthly return was +8% compared with the benchmark's best return of +5.32%, and its worst monthly return was -4.92% vs the benchmark's worst return over the same period of -3.27%.
Year | Jan % | Feb % | Mar % | Apr % | May % | Jun % | Jul % | Aug % | Sep % | Oct % | Nov % | Dec % | YTD % |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2024 | 6.60 | 8.00 | 3.23 | -3.81 | 2.93 | 2.69 | NA | NA | NA | NA | NA | NA | 20.84 |
2023 | 2.40 | 1.15 | 3.59 | 0.08 | 2.66 | 1.30 | 1.47 | 1.01 | -4.92 | -1.54 | 6.13 | 0.69 | 14.50 |
2022 | -5.57 | -7.32 | -0.08 | -3.48 | -3.02 | -3.04 | 7.13 | -2.57 | -1.60 | 6.75 | 1.72 | -6.48 | -17.22 |
2021 | NA | NA | NA | NA | NA | NA | 6.39 | 5.42 | -4.58 | 3.61 | 4.98 | 1.49 | 18.14 |
Over the past 12 months, the fund has risen by +23.9% compared with the benchmark which has returned +21.18%, for a difference of +2.72%. Since inception in July 2021, the fund has returned +10.61% per annum, a difference of +1.36% relative to the benchmark which has returned +9.25% on an annualised basis over the same period.
On a cumulative basis (assuming reinvestment of distributions), $100 invested since inception would have become $135.
The fund's returns over the past 12 months have been achieved with a volatility of 13.19% vs the index's 10.52%. The annualised volatility of the fund's returns since inception in July 2021 is 14.27% vs the index's 11.22%. Over the past 24 and 36 month periods, the fund's returns have had an annualised volatility of 12.91% and 14.27% respectively, higher than the benchmark's annualised volatility over each of those periods; 11.56% (24 months), % (36 months).
The fund's Sharpe ratio has ranged from a high of 1.39 for performance over the most recent 12 months to a low of 0.62 over the latest 36 months (since inception). By contrast, the All Countries World (AUD) Index's Sharpe for performance since July 2021 is 0.64.
Since inception in July 2021 in the months where the market was positive, the fund has provided positive returns 100% of the time, contributing to an up-capture ratio since inception of 124.32%. For performance over the past 12 month, the fund's up-capture ratio is 105.01%, and is 102.89% over the past 24 months. An up-capture ratio greater than 100% indicates that, on average, the fund has outperformed in the market's positive months.
Since inception in July 2021 in the months where the market was negative, the fund has provided positive returns 7% of the time, contributing to a down-capture ratio since inception of 118.41%. For performance over the past 12 month, the fund's down-capture ratio is 103.84%, and is 100.05% over the past 24 months.
The fund's Sortino ratio (which excludes volatility in positive months) has ranged from a high of 2.5 for performance over the most recent 12 months to a low of 0.86 over the latest 36 months (since inception). By contrast, the All Countries World (AUD) Index's Sortino for performance since July 2021 is 0.94.
Over the past 12 months, the fund's largest drawdown was -6.39% vs the index's -6.22%, and since inception in July 2021 the fund's largest drawdown was -20.63% vs the index's maximum drawdown over the same period of -16.02%.
The performance of the Alphinity Global Sustainable Equity Fund ranked it in the second quintile for Total Return, Sharpe and Sortino over 1 year.
Over the past 12 months, the fund has risen by +23.9% compared with the peer group which has returned an average of +17.29%, for a difference of +6.61%.
The fund's returns over the past 12 months have been achieved with a volatility of 13.19% vs the peer group's average volatility of 10.46%. The annualised volatility of the fund's returns since inception in July 2021 is 14.27% vs the peer group's 11.56%. Over the past 24 and 36 month periods, the fund's returns have had an annualised volatility of 12.91% and 14.27% respectively, higher than the peer group's annualised volatility over each of those periods; 11.99% (24 months), 11.84% (36 months).