NEWS
Performance Report: Insync Global Capital Aware Fund
14 Jul 2022 - FundMonitors.com
The Insync Global Capital Aware Fund returned -2.69% in June, an outperformance of +1.75% compared with the Global Equity Index which fell by -4.44%. The fund has underperformed the index since inception in October 2009, providing...
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14 Jul 2022 - Performance Report: Insync Global Capital Aware Fund
By: FundMonitors.com
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| Fund Overview | Insync invests in a concentrated portfolio of high quality companies that possess long 'runways' of future growth benefitting from Megatrends. Megatrends are multiyear structural and disruptive changes that transform the way we live our daily lives and result from a convergence of different underlying trends including innovation, politics, demographics, social attitudes and lifestyles. They provide important tailwinds to individual stocks and sectors, that reside within them. Insync believe this delivers exponential earnings growth ahead of market expectations. The fund uses Put Options to help buffer the depth and duration that sharp, severe negative market impacts would otherwide have on the value of the fund during these events. Insync screens the universe of 40,000 listed global companies to just 150 that it views as superior. This includes profitability, balance sheet performance, shareholder focus and valuations. 20-40 companies are then chosen for the portfolio. These reflect the best outcomes from further analysis using a proprietary DCF valuation, implied growth modelling, and free cash flow yield; alongside management, competitor, and industry scrutiny. The Fund may hold some cash (maximum of 5%), derivatives, currency contracts for hedging purposes, and American and/or Global Depository Receipts. It is however, for all intents and purposes, a 'long-only' fund, remaining fully invested irrespective of market cycles. |
| Manager Comments | The Insync Global Capital Aware Fund has a track record of 12 years and 9 months and has underperformed the Global Equity Index since inception in October 2009, providing investors with an annualised return of 9.59% compared with the index's return of 10.24% over the same period. On a calendar year basis, the fund has experienced a negative annual return on 2 occasions in the 12 years and 9 months since its inception. Over the past 12 months, the fund's largest drawdown was -27.39% vs the index's -15.77%, and since inception in October 2009 the fund's largest drawdown was -27.39% vs the index's maximum drawdown over the same period of -15.77%. The fund's maximum drawdown began in January 2022 and has lasted 5 months, reaching its lowest point during June 2022. The Manager has delivered these returns with 0.83% more volatility than the index, contributing to a Sharpe ratio which has fallen below 1 five times over the past five years and which currently sits at 0.69 since inception. The fund has provided positive monthly returns 81% of the time in rising markets and 22% of the time during periods of market decline, contributing to an up-capture ratio since inception of 59% and a down-capture ratio of 82%. |
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Performance Report: L1 Capital Long Short Fund (Monthly Class)
13 Jul 2022 - FundMonitors.com
Over the past 12 months, the L1 Capital Long Short Fund (Monthly Class) has risen by +10.34% compared with the ASX 200 Total Return Index which has fallen -6.47%, for a difference of +16.81%. The fund has outperformed the index since...
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13 Jul 2022 - Performance Report: L1 Capital Long Short Fund (Monthly Class)
By: FundMonitors.com
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| Manager Comments | The L1 Capital Long Short Fund (Monthly Class) has a track record of 7 years and 10 months and has outperformed the ASX 200 Total Return Index since inception in September 2014, providing investors with an annualised return of 21.02% compared with the index's return of 6.23% over the same period. On a calendar year basis, the fund has only experienced a negative annual return once in the 7 years and 10 months since its inception. Over the past 12 months, the fund's largest drawdown was -13.39% vs the index's -11.9%, and since inception in September 2014 the fund's largest drawdown was -39.11% vs the index's maximum drawdown over the same period of -26.75%. The fund's maximum drawdown began in February 2018 and lasted 2 years and 9 months, reaching its lowest point during March 2020. The fund had completely recovered its losses by November 2020. The Manager has delivered these returns with 6.65% more volatility than the index, contributing to a Sharpe ratio which has fallen below 1 four times over the past five years and which currently sits at 0.96 since inception. The fund has provided positive monthly returns 79% of the time in rising markets and 64% of the time during periods of market decline, contributing to an up-capture ratio since inception of 93% and a down-capture ratio of 18%. |
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Performance Report: DS Capital Growth Fund
12 Jul 2022 - FundMonitors.com
The DS Capital Growth Fund returned -6.2% in June, an outperformance of +2.57% compared with the ASX 200 Total Return Index which fell by -8.77%. The fund has outperformed the index since inception in January 2013, providing investors with...
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12 Jul 2022 - Performance Report: DS Capital Growth Fund
By: FundMonitors.com
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| Fund Overview | The investment team looks for industrial businesses that are simple to understand, generally avoiding large caps, pure mining, biotech and start-ups. They also look for: - Access to management; - Businesses with a competitive edge; - Profitable companies with good margins, organic growth prospects, strong market position and a track record of healthy dividend growth; - Sectors with structural advantage and barriers to entry; - 15% p.a. pre-tax compound return on each holding; and - A history of stable and predictable cash flows that DS Capital can understand and value. |
| Manager Comments | The DS Capital Growth Fund has a track record of 9 years and 6 months and has outperformed the ASX 200 Total Return Index since inception in January 2013, providing investors with an annualised return of 12.54% compared with the index's return of 8.06% over the same period. On a calendar year basis, the fund has only experienced a negative annual return once in the 9 years and 6 months since its inception. Over the past 12 months, the fund's largest drawdown was -21.05% vs the index's -11.9%, and since inception in January 2013 the fund's largest drawdown was -22.53% vs the index's maximum drawdown over the same period of -26.75%. The fund's maximum drawdown began in February 2020 and lasted 6 months, reaching its lowest point during March 2020. The fund had completely recovered its losses by August 2020. The Manager has delivered these returns with 1.91% less volatility than the index, contributing to a Sharpe ratio which has fallen below 1 five times over the past five years and which currently sits at 0.94 since inception. The fund has provided positive monthly returns 89% of the time in rising markets and 33% of the time during periods of market decline, contributing to an up-capture ratio since inception of 66% and a down-capture ratio of 62%. |
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Performance Report: Bennelong Long Short Equity Fund
11 Jul 2022 - FundMonitors.com
The Bennelong Long Short Equity Fund returned -2.05% in June, an outperformance of +6.72% compared with the ASX 200 Total Return Index which fell by -8.77%. The fund has outperformed the index since inception in February 2002, providing...
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11 Jul 2022 - Performance Report: Bennelong Long Short Equity Fund
By: FundMonitors.com
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| Fund Overview | In a typical environment the Fund will hold around 70 stocks comprising 35 pairs. Each pair contains one long and one short position each of which will have been thoroughly researched and are selected from the same market sector. Whilst in an ideal environment each stock's position will make a positive return, it is the relative performance of the pair that is important. As a result the Fund can make positive returns when each stock moves in the same direction provided the long position outperforms the short one in relative terms. However, if neither side of the trade is profitable, strict controls are required to ensure losses are limited. The Fund uses no derivatives and has no currency exposure. The Fund has no hard stop loss limits, instead relying on the small average position size per stock (1.5%) and per pair (3%) to limit exposure. Where practical pairs are always held within the same sector to limit cross sector risk, and positions can be held for months or years. The Bennelong Market Neutral Fund, with same strategy and liquidity is available for retail investors as a Listed Investment Company (LIC) on the ASX. |
| Manager Comments | The Bennelong Long Short Equity Fund has a track record of 20 years and 5 months and has outperformed the ASX 200 Total Return Index since inception in February 2002, providing investors with an annualised return of 12.67% compared with the index's return of 7.65% over the same period. On a calendar year basis, the fund has experienced a negative annual return on 3 occasions in the 20 years and 5 months since its inception. Over the past 12 months, the fund's largest drawdown was -23.37% vs the index's -11.9%, and since inception in February 2002 the fund's largest drawdown was -30.59% vs the index's maximum drawdown over the same period of -47.19%. The fund's maximum drawdown began in September 2020 and has lasted 1 year and 9 months, reaching its lowest point during June 2022. During this period, the index's maximum drawdown was -15.05%. The Manager has delivered these returns with 0.32% less volatility than the index, contributing to a Sharpe ratio which has fallen below 1 five times over the past five years and which currently sits at 0.73 since inception. The fund has provided positive monthly returns 64% of the time in rising markets and 60% of the time during periods of market decline, contributing to an up-capture ratio since inception of 5% and a down-capture ratio of -121%. |
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Performance Report: Argonaut Natural Resources Fund
8 Jul 2022 - FundMonitors.com
Over the past 12 months, the Argonaut Natural Resources Fund has risen by +44.18% compared with the ASX 200 Total Return Index which has fallen -6.47%, for a difference of +50.65%. The fund has outperformed the index since inception in...
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8 Jul 2022 - Performance Report: Argonaut Natural Resources Fund
By: FundMonitors.com
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| Fund Overview | At times, ANRF may consider holding higher levels of cash (max 30%) if valuations are full and it is difficult to find attractive investment opportunities. The Fund does not borrow for investment or any other purposes, but it may short sell securities as part of its portfolio protection strategies. |
| Manager Comments | The Argonaut Natural Resources Fund has a track record of 2 years and 6 months and therefore comparison over all market conditions and against its peers is limited. However, the fund has outperformed the ASX 200 Total Return Index since inception in January 2020, providing investors with an annualised return of 41.34% compared with the index's return of 2.77% over the same period. On a calendar year basis, the fund hasn't experienced any negative annual returns in the 2 years and 6 months since its inception. Over the past 12 months, the fund's largest drawdown was -19.06% vs the index's -11.9%, and since inception in January 2020 the fund's largest drawdown was -19.06% vs the index's maximum drawdown over the same period of -26.75%. The fund's maximum drawdown began in April 2022 and has lasted 2 months, reaching its lowest point during June 2022. During this period, the index's maximum drawdown was -11.9%. The Manager has delivered these returns with 4.18% more volatility than the index, contributing to a Sharpe ratio for performance over the past 12 months of 1.62 and for performance since inception of 1.58. The fund has provided positive monthly returns 80% of the time in rising markets and 40% of the time during periods of market decline, contributing to an up-capture ratio since inception of 201% and a down-capture ratio of 34%. |
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Performance Report: Equitable Investors Dragonfly Fund
30 Jun 2022 - FundMonitors.com
The Equitable Investors Dragonfly Fund returned -8.69% in May. Top contributors included Reckon (RKN) and Earlypay (EPY), while Intelligent Monitoring (IMB) and Scout Security (SCT) were the key detractors.
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30 Jun 2022 - Performance Report: Equitable Investors Dragonfly Fund
By: FundMonitors.com
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| Fund Overview | The Fund is an open ended, unlisted unit trust investing predominantly in ASX listed companies. Hybrid, debt & unlisted investments are also considered. The Fund is focused on investing in growing or strategic businesses and generating returns that, to the extent possible, are less dependent on the direction of the broader sharemarket. The Fund may at times change its cash weighting or utilise exchange traded products to manage market risk. Investments will primarily be made in micro-to-mid cap companies listed on the ASX. Larger listed businesses will also be considered for investment but are not expected to meet the manager's investment criteria as regularly as smaller peers. |
| Manager Comments | Software company Reckon(RKN) provided a highlight for the Fund as the company struck a deal to sell a business unit, in-keeping with Equitable's view on value and demonstrating their approach to 'bottom-up' investing focused on the opportunities presenting in individual companies. However, they noted in the absence of catalysts elsewhere, the smaller and less liquid listed investments faced broad selling pressure as sentiment was compounded by tax loss selling. Equitable Investors' view is that nothing about CY2022 has been easy for listed equities and the month of May brought on another round of share price declines as interest rates rose and investors who have not operated in such an environment since 2010 grappled with the implications. |
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Fund Review: Insync Global Capital Aware Fund May 2022
30 Jun 2022 - FundMonitors.com
Latest Fund Review on Insync Global Capital Aware Fund is now available. The Global Capital Aware Fund invests in a concentrated portfolio of 15-30 stocks, targeting exceptional, large cap global companies with a strong focus on dividend...
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30 Jun 2022 - Fund Review: Insync Global Capital Aware Fund May 2022
By: FundMonitors.com
AFM Fund Review - May 2022 (pdf format)
INSYNC GLOBAL CAPITAL AWARE FUND
Attached is our most recently updated Fund Review on the Insync Global Capital Aware Fund.
We would like to highlight the following:
- The Global Capital Aware Fund invests in a concentrated portfolio of 15-30 stocks, targeting exceptional, large cap global companies with a strong focus on dividend growth and downside protection.
- Portfolio selection is driven by a core strategy of investing in companies with sustainable growth in dividends, high returns on capital, positive free cash flows and strong balance sheets.
- Emphasis on limiting downside risk is through extensive company research, the ability to hold cash and long protective index put options.
For further details on the Fund, please do not hesitate to contact us.
AFM Fund Review - May 2022 (pdf format)
Performance Report: Paragon Australian Long Short Fund
29 Jun 2022 - FundMonitors.com
The Paragon Australian Long Short Fund has a track record of 9 years and 3 months and has outperformed the ASX 200 Total Return Index since inception in March 2013, providing investors with an annualised return of 11.01% compared with the...
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29 Jun 2022 - Performance Report: Paragon Australian Long Short Fund
By: FundMonitors.com
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| Fund Overview | Paragon's unique investment style, comprising thematic led idea generation followed with an in depth research effort, results in a concentrated portfolio of high conviction stocks. Conviction in bottom up analysis drives the investment case and ultimate position sizing: * Both quantitative analysis - probability weighted high/low/base case valuations - and qualitative analysis - company meetings, assessing management, the business model, balance sheet strength and likely direction of returns - collectively form Paragon's overall view for each investment case. * Paragon will then allocate weighting to each investment opportunity based on a risk/reward profile, capped to defined investment parameters by market cap, which are continually monitored as part of Paragon's overall risk management framework. The objective of the Paragon Fund is to produce absolute returns in excess of 10% p.a. over a 3-5 year time horizon with a low correlation to the Australian equities market. |
| Manager Comments | On a calendar year basis, the fund has only experienced a negative annual return once in the 9 years and 3 months since its inception. Over the past 12 months, the fund's largest drawdown was -27.05% vs the index's -6.35%, and since inception in March 2013 the fund's largest drawdown was -45.11% vs the index's maximum drawdown over the same period of -26.75%. The fund's maximum drawdown began in January 2018 and lasted 2 years and 7 months, reaching its lowest point during March 2020. The fund had completely recovered its losses by August 2020. The Manager has delivered these returns with 12.76% more volatility than the index, contributing to a Sharpe ratio which has fallen below 1 five times over the past five years and which currently sits at 0.47 since inception. The fund has provided positive monthly returns 69% of the time in rising markets and 44% of the time during periods of market decline, contributing to an up-capture ratio since inception of 107% and a down-capture ratio of 92%. |
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Performance Report: Bennelong Concentrated Australian Equities Fund
29 Jun 2022 - FundMonitors.com
The Bennelong Concentrated Australian Equities Fund returned -7.01% in May. The fund has outperformed the ASX 200 Total Return Index since inception in February 2009, providing investors with an annualised return of 14.34% compared with...
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29 Jun 2022 - Performance Report: Bennelong Concentrated Australian Equities Fund
By: FundMonitors.com
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| Manager Comments | The Bennelong Concentrated Australian Equities Fund has a track record of 13 years and 4 months and has outperformed the ASX 200 Total Return Index since inception in February 2009, providing investors with an annualised return of 14.34% compared with the index's return of 10.09% over the same period. On a calendar year basis, the fund has experienced a negative annual return on 2 occasions in the 13 years and 4 months since its inception. Over the past 12 months, the fund's largest drawdown was -26.45% vs the index's -6.35%, and since inception in February 2009 the fund's largest drawdown was -26.45% vs the index's maximum drawdown over the same period of -26.75%. The fund's maximum drawdown began in December 2021 and has lasted 5 months, reaching its lowest point during May 2022. During this period, the index's maximum drawdown was -6.35%. The Manager has delivered these returns with 1.93% more volatility than the index, contributing to a Sharpe ratio which has fallen below 1 five times over the past five years and which currently sits at 0.81 since inception. The fund has provided positive monthly returns 90% of the time in rising markets and 19% of the time during periods of market decline, contributing to an up-capture ratio since inception of 137% and a down-capture ratio of 96%. |
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Performance Report: Digital Asset Fund (Digital Opportunities Class)
28 Jun 2022 - FundMonitors.com
The Digital Asset Fund (Digital Opportunities Class) rose by +0.35% in May, an outperformance of +28.94% compared with the S&P Cryptocurrency Broad Digital Market Index which fell by -28.59%. The fund has outperformed the index since...
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28 Jun 2022 - Performance Report: Digital Asset Fund (Digital Opportunities Class)
By: FundMonitors.com
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| Fund Overview | The Fund offers a choice of three investment classes, each of which adopts a different investment strategy: - The Digital Opportunities Class identifies and trades low risk arbitrage opportunities between different exchanges and a number of digital assets; - The Digital Index Class tracks the performance of a basket of digital assets; - The Bitcoin Index Class tracks the performance of Bitcoin. Digital Opportunities Class: This class appeals to investors seeking an active exposure to the digital asset markets with no directional bias. The Digital Opportunities Class employs a high frequency inspired Market Neutral strategy trading 24/7 which uses a systematic approach designed to offer uncorrelated returns to the underlying highly volatile cryptocurrency markets. The strategy systematically exploits low-risk arbitrage opportunities across the most liquid and active digital asset markets on the most respected exchanges. When appropriate the Fund may obtain leverage, including through borrowing cash, securities and other instruments, and entering into derivative transactions and repurchase agreements. DAFM has a currency hedging policy in place for the Units in the Fund. Units in the Fund will be hedged against exposure to assets denominated in US dollars through a trading account with spot, forwards and options as directed by DAFM. |
| Manager Comments | Since inception, the fund hasn't had any negative monthly returns and therefore hasn't experienced a drawdown. Over the same period, the index's largest drawdown was -55.54%. The Manager has delivered these returns with 43.99% less volatility than the index, contributing to a Sharpe ratio for performance over the past 12 months of 4.14 and for performance since inception of 1.79. The fund has provided positive monthly returns 100% of the time in rising markets and 100% of the time during periods of market decline, contributing to an up-capture ratio since inception of 9% and a down-capture ratio of -52%. |
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