Arminius Capital ALPS Fund

Performance Summary as at October 2023

The Arminius Capital ALPS Fund has a track record of 9 years and 4 months and has outperformed the Barclay Hedge Global Macro benchmark since inception in July 2014, providing investors with an annualised return of 6.02% compared with the benchmark's return of 4.16% over the same period.

On a calendar year basis, the fund has experienced a negative annual return on 2 occasions in the 9 years and 4 months since its inception. Over the past 12 months, the fund's largest drawdown was -6.32% vs the index's -2.29%, and since inception in July 2014 the fund's largest drawdown was -18.26% vs the index's maximum drawdown over the same period of -8.07%. The fund's maximum drawdown began in February 2018 and lasted 4 years and 8 months, reaching its lowest point during January 2021. The fund had completely recovered its losses by October 2022.

The Manager has delivered these returns with 2.53% more volatility than the benchmark, contributing to a Sharpe ratio which has only fallen below 1 once over the past five years and which currently sits at 0.64 since inception. The fund has provided positive monthly returns 62% of the time in rising markets and 59% of the time during periods of market decline, contributing to an up-capture ratio since inception of 32% and a down-capture ratio of -72%.