Pendal Australian Long/Short Fund
30 June 2026
Performance Review
The Pendal Australian Long/Short Fund has a track record of 18 years and 7 months and has outperformed the ASX 200 Total Return benchmark since inception in December 2007, providing investors with an annualised return of 6.96% compared with the benchmark's return of 5.91% over the same period.
The Manager has delivered these returns with 0.38% 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 0.36 since inception. The fund has provided positive monthly returns 97% of the time in rising markets and 10% of the time during periods of market decline, contributing to an up-capture ratio since inception of 94% and a down-capture ratio of 99%.
The Pendal Australian Long/Short Fund rose by +0.59% in June, a difference of -0.08% compared with the ASX 200 Total Return benchmark which rose by +0.67%. Over the past 12 months, the fund's best monthly return was +2.73% compared with the benchmark's best return of +4.11%, and its worst monthly return was -8.22% vs the benchmark's worst return over the same period of -7.15%.
Fund rank in Peergroups
| Fund | 1 month | 3 months | 6 months | 1 year | 3 years | 5 years | 7 years | |
|---|---|---|---|---|---|---|---|---|
| Pendal Australian Long/Short Fund | Performance: | 0.59% | 5.02% | 0.59% | 2.10% | 9.11% | 6.96% | 7.97% |
| Rank in Peer Group (out of 66): | 41 | 24 | 36 | 50 | 25 | 26 | 20 | |
| Peergroup - Equity Alternative - Australia | Performance: | 0.62% | 4.34% | -1.45% | 6.57% | 8.26% | 5.98% | 7.34% |
| Performance vs peergroup: | -0.03% | +0.68% | +2.04% | -4.47% | +0.85% | +0.97% | +0.62% | |
| Benchmark - ASX 200 Total Return | Performance: | 0.67% | 4.04% | 2.37% | 6.10% | 10.62% | 7.76% | 8.01% |
| Performance vs benchmark (Alpha): | -0.08% | +0.97% | -1.78% | -4.00% | -1.51% | -0.81% | -0.04% | |
| Fund | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Pendal Australian Long/Short Fund | Performance: | 13.24% | -4.53% | 25.77% | 1.77% | 18.98% | -1.66% | 13.36% | 11.40% | 7.89% | 0.59% |
| Rank in Peer Group (out of 67): | 17 | 32 | 13 | 41 | 27 | 36 | 9 | 29 | 44 | 33 | |
| Drawdown: | -2.50% | -10.54% | -2.24% | -26.08% | -1.64% | -11.68% | -6.44% | -3.21% | -6.22% | -8.22% | |
| Peergroup - Equity Alternative - Australia | Performance: | 11.25% | -4.84% | 15.79% | 6.91% | 17.22% | -4.40% | 6.39% | 9.76% | 13.26% | -1.45% |
| Performance vs peergroup: | +1.99% | +0.31% | +9.98% | -5.14% | +1.76% | +2.74% | +6.97% | +1.64% | -5.37% | +2.04% | |
| Benchmark - ASX 200 Total Return | Performance: | 11.80% | -2.84% | 23.40% | 1.40% | 17.23% | -1.08% | 12.42% | 11.44% | 10.32% | 2.37% |
| Performance vs benchmark (Alpha): | +1.44% | -1.69% | +2.38% | +0.37% | +1.75% | -0.58% | +0.95% | -0.04% | -2.43% | -1.78% | |
Fund returns
| Year | Jan % | Feb % | Mar % | Apr % | May % | Jun % | Jul % | Aug % | Sep % | Oct % | Nov % | Dec % | YTD % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.59 | 2.73 | -8.22 | 2.24 | 2.11 | 0.59 | NA | NA | NA | NA | NA | NA | 0.59 |
| 2025 | 4.32 | -2.89 | -3.42 | 2.16 | 4.68 | 1.58 | 2.01 | 2.72 | -1.10 | -0.54 | -3.00 | 1.53 | 7.89 |
| 2024 | 1.94 | 0.42 | 3.32 | -3.01 | 1.22 | 0.72 | 4.51 | -0.34 | 3.22 | -1.16 | 3.57 | -3.21 | 11.40 |
| 2023 | 6.26 | -2.09 | 0.29 | 1.56 | -1.69 | 1.27 | 2.92 | -0.73 | -2.78 | -3.06 | 4.50 | 6.79 | 13.36 |
| 2022 | -5.58 | 2.70 | 5.94 | -0.59 | -2.18 | -8.71 | 4.41 | 1.43 | -6.05 | 6.07 | 5.42 | -3.07 | -1.66 |
| 2021 | -0.51 | 3.29 | 3.09 | 3.75 | 3.35 | 0.86 | 0.57 | 2.33 | -1.15 | 0.41 | -0.91 | 2.60 | 18.98 |
| 2020 | 4.49 | -7.65 | -19.95 | 9.30 | 4.04 | 1.74 | -0.83 | 3.04 | -3.11 | 1.71 | 11.45 | 1.46 | 1.77 |
| 2019 | 3.47 | 6.76 | 0.95 | 1.62 | 2.37 | 3.45 | 2.81 | -2.21 | 2.28 | -0.12 | 4.37 | -2.24 | 25.77 |
| 2018 | 0.16 | 1.09 | -4.00 | 4.31 | 0.93 | 2.41 | 1.54 | 0.29 | -0.87 | -6.40 | -2.98 | -0.62 | -4.53 |
| 2017 | -0.55 | 1.99 | 3.48 | 0.45 | -2.50 | 0.77 | 0.68 | 0.65 | 0.37 | 3.83 | 1.21 | 2.29 | 13.24 |
| 2016 | -5.47 | -3.37 | 4.58 | 1.85 | 4.22 | -3.58 | 5.30 | -1.06 | 0.46 | -1.16 | 3.62 | 4.57 | 9.61 |
| 2015 | 2.94 | 7.31 | 0.34 | -1.55 | 0.08 | -5.19 | 5.13 | -8.24 | -2.50 | 4.48 | -0.23 | 3.01 | 4.57 |
| 2014 | -3.47 | 4.20 | 0.27 | 1.51 | 0.98 | -1.63 | 3.83 | 1.21 | -4.79 | 4.09 | -2.25 | 2.35 | 5.97 |
| 2013 | 4.67 | 5.18 | -2.01 | 4.92 | -3.36 | -2.09 | 5.38 | 2.40 | 2.82 | 3.53 | -0.83 | 0.72 | 22.86 |
| 2012 | 4.92 | 2.23 | 1.12 | 1.01 | -5.87 | 0.83 | 3.96 | 2.36 | 2.25 | 2.92 | 0.36 | 3.13 | 20.50 |
| 2011 | 0.04 | 2.74 | 1.20 | 0.00 | -1.29 | -1.74 | -3.16 | -2.89 | -5.52 | 7.35 | -3.02 | -1.32 | -7.92 |
| 2010 | -6.98 | 1.69 | 6.38 | -1.65 | -8.17 | -2.70 | 4.26 | -1.88 | 3.82 | 1.47 | -1.21 | 3.63 | -2.43 |
| 2009 | -3.67 | -1.74 | 8.00 | 6.22 | 1.63 | 3.37 | 8.07 | 7.44 | 5.93 | -1.66 | 1.30 | 4.28 | 45.72 |
| 2008 | -10.34 | 0.18 | -4.98 | 5.76 | 0.39 | -6.22 | -3.19 | 5.03 | -8.63 | -9.90 | -4.69 | 0.67 | -31.75 |
| 2007 | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | -2.04 | -2.04 |
Only seven years of data shown. Click here to view all data.
Annual Returns
Over the past 12 months, the fund has risen by +2.10% compared with the benchmark which has returned +6.10%, for a difference of -4.00%. Since inception in December 2007, the fund has returned +6.96% per annum, a difference of +1.05% relative to the benchmark which has returned +5.91% 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 $349. The same amount invested in the benchmark over the same period would have become $290.
Annual Returns %
Volatility and Risk
Annual Standard Deviation
The fund's returns over the past 12 months have been achieved with a volatility of 10.54% vs the index's 9.94%. The annualised volatility of the fund's returns since inception in December 2007 is 13.74% vs the index's 14.12%. Over all other periods, the fund's volatility relative to the benchmark has been varied.
Sharpe Ratio
The fund's Sharpe ratio has ranged from a high of 0.6 for performance over the most recent 48 months to a low of -0.11 over the latest 12 months, and is 0.36 for performance since inception. By contrast, the ASX 200 Total Return Index's Sharpe for performance since December 2007 is 0.28.
Annual Standard Deviation
Sharpe Ratio
Performance in Positive Markets
Since inception in December 2007 in the months where the market was positive, the fund has provided positive returns 97% of the time
Performance in Negative Markets
Since inception in December 2007 in the months where the market was negative, the fund has provided positive returns 10% of the time, contributing to a down-capture ratio for returns since inception of 98.63%. Over all other periods, the fund's down-capture ratio has ranged from a high of 115.82% over the most recent 12 months to a low of 95.69% over the latest 60 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 0.82 for performance over the most recent 48 months to a low of -0.18 over the latest 12 months, and is 0.40 for performance since inception. By contrast, the ASX 200 Total Return Index's Sortino for performance since December 2007 is 0.28.
Drawdown
Over the past 12 months, the fund's largest drawdown was -8.22% vs the index's -7.15%, and since inception in December 2007 the fund's largest drawdown was -35.4% vs the index's maximum drawdown over the same period of -45.65%.
Sortino Ratio
Drawdown%
Quintile Ranking vs. Average Equity Alternative - Australia as of May 2026
The performance of the Pendal Australian Long/Short Fund ranked it in the second quintile for Total Return over 7 years, while over 3 & 5 years the fund ranked in the second quintile for Largest Drawdown.
Over the past 12 months, the fund has risen by +2.10% compared with the peer group which has returned an average of +6.57%, for a difference of -4.47%.
The fund's returns over the past 12 months have been achieved with a volatility of 10.54% vs the peer group's average volatility of 8.67%. The annualised volatility of the fund's returns since inception in December 2007 is 13.74% vs the peer group's 8.95%. Over all other periods, the fund's returns have been more volatile than the peer group.