Pendal Fixed Interest Fund
30 June 2026
Performance Review
The Pendal Fixed Interest Fund has a track record of 33 years and 11 months and has underperformed the Bloomberg AusBond Composite 0+ Yr benchmark since inception in August 1992, providing investors with an annualised return of 5.26% compared with the benchmark's return of 5.49% over the same period.
The Manager has delivered these returns with 0.21% more 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 0.31 since inception. The fund has provided positive monthly returns 94% of the time in rising markets and 12% of the time during periods of market decline, contributing to an up-capture ratio since inception of 97% and a down-capture ratio of 103%.
The Pendal Fixed Interest Fund rose by +1.03% in June, an outperformance of +0.07% compared with the Bloomberg AusBond Composite 0+ Yr benchmark which rose by +0.96%. Over the past 12 months, the fund's best monthly return was +1.64% compared with the benchmark's best return of +1.62%, and its worst monthly return was -1.55% vs the benchmark's worst return over the same period of -1.42%.
Fund rank in Peergroups
| Fund | 1 month | 3 months | 6 months | 1 year | 3 years | 5 years | 7 years | |
|---|---|---|---|---|---|---|---|---|
| Pendal Fixed Interest Fund | Performance: | 1.03% | 2.71% | 2.35% | 1.74% | 4.12% | 0.42% | 0.82% |
| Rank in Peer Group (out of 89): | 18 | 16 | 42 | 78 | 73 | 68 | 66 | |
| Peergroup - Bonds / Diversified Fixed Interest | Performance: | 0.78% | 2.05% | 2.33% | 4.49% | 5.51% | 3.12% | 3.01% |
| Performance vs peergroup: | +0.25% | +0.67% | +0.02% | -2.75% | -1.39% | -2.69% | -2.19% | |
| Benchmark - Bloomberg AusBond Composite 0+ Yr Index | Performance: | 0.96% | 2.65% | 2.30% | 1.53% | 3.98% | 0.37% | 0.73% |
| Performance vs benchmark (Alpha): | +0.07% | +0.07% | +0.05% | +0.21% | +0.14% | +0.05% | +0.09% | |
| Fund | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Pendal Fixed Interest Fund | Performance: | 3.08% | 3.81% | 7.04% | 5.65% | -3.52% | -10.15% | 5.40% | 2.93% | 3.37% | 2.35% |
| Rank in Peer Group (out of 89): | 45 | 19 | 21 | 15 | 77 | 64 | 57 | 76 | 80 | 42 | |
| Drawdown: | -1.06% | -0.71% | -2.09% | -0.62% | -5.81% | -10.67% | -5.36% | -2.06% | -1.58% | -1.55% | |
| Peergroup - Bonds / Diversified Fixed Interest | Performance: | 4.76% | 1.85% | 5.94% | 3.95% | 0.23% | -3.55% | 6.70% | 5.30% | 5.16% | 2.33% |
| Performance vs peergroup: | -1.69% | +1.96% | +1.11% | +1.70% | -3.75% | -6.60% | -1.30% | -2.37% | -1.78% | +0.02% | |
| Benchmark - Bloomberg AusBond Composite 0+ Yr Index | Performance: | 3.66% | 4.54% | 7.26% | 4.48% | -2.88% | -9.71% | 5.06% | 2.50% | 3.61% | 2.30% |
| Performance vs benchmark (Alpha): | -0.58% | -0.73% | -0.22% | +1.17% | -0.65% | -0.44% | +0.34% | +0.43% | -0.24% | +0.05% | |
Fund returns
| Year | Jan % | Feb % | Mar % | Apr % | May % | Jun % | Jul % | Aug % | Sep % | Oct % | Nov % | Dec % | YTD % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.32 | 0.89 | -1.55 | 0.03 | 1.64 | 1.03 | NA | NA | NA | NA | NA | NA | 2.35 |
| 2025 | 0.24 | 1.01 | 0.14 | 1.57 | 0.24 | 0.75 | -0.03 | 0.42 | 0.18 | 0.43 | -0.94 | -0.65 | 3.37 |
| 2024 | 0.16 | -0.24 | 1.07 | -2.06 | 0.39 | 0.71 | 1.55 | 1.30 | 0.32 | -1.88 | 1.15 | 0.50 | 2.93 |
| 2023 | 2.84 | -1.33 | 3.32 | 0.24 | -1.16 | -2.11 | 0.51 | 0.76 | -1.59 | -1.86 | 3.12 | 2.77 | 5.40 |
| 2022 | -0.86 | -1.48 | -3.96 | -1.65 | -0.85 | -1.66 | 3.40 | -2.51 | -1.49 | 0.90 | 1.73 | -2.01 | -10.15 |
| 2021 | -0.63 | -4.48 | 1.14 | 0.67 | 0.17 | 0.63 | 1.80 | 0.09 | -1.57 | -3.60 | 2.17 | 0.26 | -3.52 |
| 2020 | 2.49 | 1.12 | 0.11 | 0.07 | 0.50 | 0.13 | 0.51 | -0.62 | 1.30 | 0.28 | -0.10 | -0.25 | 5.65 |
| 2019 | 0.29 | 0.84 | 1.73 | -0.02 | 2.06 | 1.25 | 1.10 | 1.74 | -0.66 | -0.50 | 0.78 | -1.71 | 7.04 |
| 2018 | 0.00 | 0.31 | 0.67 | -0.42 | 1.08 | 0.78 | -0.12 | 0.72 | -0.71 | 0.43 | -0.13 | 1.14 | 3.81 |
| 2017 | 0.58 | 0.08 | 0.48 | 0.74 | 1.27 | -1.02 | 0.25 | 0.05 | -0.34 | 0.97 | 0.79 | -0.78 | 3.08 |
| 2016 | 1.63 | 0.71 | -1.19 | -0.02 | 1.75 | 1.55 | 0.58 | 0.40 | -0.31 | -1.42 | -1.60 | -0.59 | 1.42 |
| 2015 | 2.08 | -0.07 | 1.24 | -1.82 | 0.11 | -1.64 | 1.66 | 1.28 | 0.20 | -0.09 | -0.99 | -0.32 | 1.57 |
| 2014 | 1.27 | 0.18 | -0.03 | 0.89 | 1.49 | 0.94 | 0.28 | 1.02 | -0.11 | 1.30 | 1.69 | 1.87 | 11.33 |
| 2013 | -0.27 | 0.61 | -0.40 | 1.64 | -0.30 | -1.28 | 0.82 | -0.44 | 0.58 | -0.23 | -0.24 | 0.58 | 1.04 |
| 2012 | -0.13 | -0.72 | 0.76 | 1.83 | 3.49 | -0.46 | 0.50 | 0.48 | 1.01 | -0.03 | -0.02 | 0.15 | 7.01 |
| 2011 | 0.93 | 0.37 | 0.77 | 0.50 | 1.38 | 0.51 | 1.73 | 2.16 | 1.03 | -0.63 | 2.15 | 0.83 | 12.36 |
| 2010 | 1.38 | 0.48 | -0.28 | 0.67 | 1.39 | 1.27 | 0.04 | 2.00 | -1.01 | -0.07 | -0.21 | -0.03 | 5.73 |
| 2009 | 1.18 | -1.10 | -0.09 | 0.41 | 0.02 | -0.22 | 0.78 | 1.00 | 0.98 | 0.17 | 1.42 | -0.19 | 4.41 |
| 2008 | 0.90 | -0.72 | 1.20 | 0.44 | 0.30 | 0.29 | 1.67 | 2.16 | 0.55 | 1.15 | 2.27 | 0.59 | 11.30 |
| 2007 | 0.45 | 1.24 | -0.44 | 0.70 | -0.09 | -0.48 | 0.45 | 0.80 | -0.13 | -0.07 | 0.31 | -0.01 | 2.75 |
| 2006 | 0.26 | 0.52 | 0.09 | -0.34 | 0.43 | 0.09 | 0.09 | 1.15 | 0.87 | -0.17 | 0.70 | -0.38 | 3.33 |
| 2005 | 0.09 | -0.17 | 0.26 | 1.19 | 0.76 | 0.54 | 0.43 | 0.78 | -0.51 | 0.17 | 0.69 | 0.78 | 5.11 |
| 2004 | -0.09 | 1.06 | 0.79 | -0.61 | 0.78 | 0.33 | 0.44 | 1.23 | 0.69 | 0.60 | 0.77 | 0.10 | 6.25 |
| 2003 | 0.40 | 0.91 | -0.33 | 0.57 | 1.55 | 0.08 | -0.91 | 0.09 | 0.52 | -1.21 | -0.17 | 1.57 | 3.08 |
| 2002 | -0.09 | 0.58 | -1.00 | 1.68 | -0.41 | 1.49 | 1.14 | 1.01 | 1.84 | 0.08 | 0.16 | 1.97 | 8.74 |
| 2001 | 1.35 | 0.58 | 0.66 | -0.58 | -0.33 | 0.17 | 0.19 | 2.45 | 1.40 | 1.63 | -1.28 | -1.06 | 5.24 |
| 2000 | 0.00 | 2.35 | 1.41 | 0.26 | 0.96 | 1.20 | 0.02 | 0.26 | 0.87 | 0.60 | 1.54 | 1.68 | 11.71 |
| 1999 | 0.34 | -0.94 | 0.69 | 0.26 | -0.68 | -0.17 | 0.62 | 0.18 | 0.62 | -0.44 | 0.27 | -0.44 | 0.28 |
| 1998 | 1.22 | 0.26 | 1.02 | 0.00 | 1.76 | 0.25 | 0.41 | -0.61 | 2.96 | 0.76 | 0.08 | 0.50 | 8.92 |
| 1997 | 0.47 | -0.35 | -0.35 | 1.32 | 2.17 | 1.61 | 1.97 | 0.17 | 1.38 | 0.85 | -0.17 | 0.93 | 10.42 |
| 1996 | 1.14 | -1.71 | -0.27 | 1.56 | 0.27 | 0.45 | 3.32 | 1.82 | 1.61 | 2.02 | 1.29 | 0.26 | 12.32 |
| 1995 | -0.64 | 3.55 | 1.35 | 1.64 | 4.74 | 0.29 | 0.23 | 2.78 | 2.33 | -0.09 | 3.11 | 0.71 | 21.78 |
| 1994 | 1.87 | -2.20 | -3.65 | -1.36 | -0.79 | -4.07 | 1.68 | 1.36 | -3.71 | -0.21 | 0.54 | 2.67 | -7.90 |
| 1993 | 2.36 | 3.15 | 1.48 | 1.84 | 0.38 | 1.61 | 1.97 | 1.49 | -0.18 | 1.65 | -0.54 | 0.91 | 17.30 |
| 1992 | NA | NA | NA | NA | NA | NA | NA | -3.40 | 0.83 | 0.82 | 0.00 | 0.92 | -0.90 |
Only seven years of data shown. Click here to view all data.
Annual Returns
Over the past 12 months, the fund has risen by +1.74% compared with the benchmark which has returned +1.53%, for a difference of +0.21%. Since inception in August 1992, the fund has returned +5.26% per annum, a difference of -0.23% relative to the benchmark which has returned +5.49% 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 $568. The same amount invested in the benchmark over the same period would have become $611.
Annual Returns %
Volatility and Risk
Annual Standard Deviation
The fund's returns over the past 12 months have been achieved with a volatility of 2.91% vs the index's 2.75%. The annualised volatility of the fund's returns since inception in August 1992 is 4.16% vs the index's 3.95%. Over all other periods, the fund's returns have been more volatile than the benchmark.
Sharpe Ratio
The fund's Sharpe ratio has ranged from a high of 0.12 for performance over the most recent 24 months to a low of -0.7 over the latest 12 months, and is 0.31 for performance since inception. By contrast, the Bloomberg AusBond Composite 0+ Yr Index's Sharpe for performance since August 1992 is 0.38.
Annual Standard Deviation
Sharpe Ratio
Performance in Positive Markets
Since inception in August 1992 in the months where the market was positive, the fund has provided positive returns 94% of the time
Performance in Negative Markets
Since inception in August 1992 in the months where the market was negative, the fund has provided positive returns 12% of the time, contributing to a down-capture ratio for returns since inception of 102.59%. Over all other periods, the fund's down-capture ratio has ranged from a high of 106.91% over the most recent 12 months to a low of 102.42% over the latest 48 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 0.13 for performance over the most recent 24 months to a low of -0.83 over the latest 12 months, and is 0.41 for performance since inception. By contrast, the Bloomberg AusBond Composite 0+ Yr Index's Sortino for performance since August 1992 is 0.53.
Drawdown
Over the past 12 months, the fund's largest drawdown was -1.93% vs the index's -1.84%, and since inception in August 1992 the fund's largest drawdown was -14.12% vs the index's maximum drawdown over the same period of -13.2%.
Sortino Ratio
Drawdown%
Quintile Ranking vs. Average Australian Bonds / Diversified Fixed Interest as of May 2026
The Pendal Fixed Interest Fund is not ranked in the first or second quintile for any KPI.
Over the past 12 months, the fund has risen by +1.74% compared with the peer group which has returned an average of +4.49%, for a difference of -2.75%.
The fund's returns over the past 12 months have been achieved with a volatility of 2.91% vs the peer group's average volatility of 1.33%. The annualised volatility of the fund's returns since inception in August 1992 is 4.16% vs the peer group's 2.14%. Over all other periods, the fund's returns have been more volatile than the peer group.