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Performance Report: Cyan C3G Fund
13 Apr 2022 - FundMonitors.com
The Cyan C3G Fund rose by +0.26% in March. The fund has a track record of 7 years and 8 months and has outperformed the ASX Small Ordinaries Total Return Index since inception in August 2014, providing investors with an annualised return...
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13 Apr 2022 - Performance Report: Cyan C3G Fund
By: FundMonitors.com
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| Fund Overview | Cyan C3G Fund is based on the investment philosophy which can be defined as a comprehensive, clear and considered process focused on delivering growth. These are identified through stringent filter criteria and a rigorous research process. The Manager uses a proprietary stock filter in order to eliminate a large proportion of investments due to both internal characteristics (such as gearing levels or cash flow) and external characteristics (such as exposure to commodity prices or customer concentration). Typically, the Fund looks for businesses that are one or more of: a) under researched, b) fundamentally undervalued, c) have a catalyst for re-rating. The Manager seeks to achieve this investment outcome by actively managing a portfolio of Australian listed securities. When the opportunity to invest in suitable securities cannot be found, the manager may reduce the level of equities exposure and accumulate a defensive cash position. Whilst it is the company's intention, there is no guarantee that any distributions or returns will be declared, or that if declared, the amount of any returns will remain constant or increase over time. The Fund does not invest in derivatives and does not use debt to leverage the Fund's performance. However, companies in which the Fund invests may be leveraged. |
| Manager Comments | The Cyan C3G Fund has a track record of 7 years and 8 months and has outperformed the ASX Small Ordinaries Total Return Index since inception in August 2014, providing investors with an annualised return of 12.19% compared with the index's return of 8.62% over the same period. On a calendar year basis, the fund has only experienced a negative annual return once in the 7 years and 8 months since its inception. Over the past 12 months, the fund's largest drawdown was -18.65% vs the index's -9.15%, and since inception in August 2014 the fund's largest drawdown was -36.45% vs the index's maximum drawdown over the same period of -29.12%. The fund's maximum drawdown began in October 2019 and lasted 1 year and 4 months, reaching its lowest point during March 2020. The fund had completely recovered its losses by February 2021. The Manager has delivered these returns with 0.18% 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 0.71 since inception. The fund has provided positive monthly returns 86% of the time in rising markets and 39% of the time during periods of market decline, contributing to an up-capture ratio since inception of 64% and a down-capture ratio of 64%. |
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Performance Report: Bennelong Kardinia Absolute Return Fund
13 Apr 2022 - FundMonitors.com
The Bennelong Kardinia Absolute Return Fund rose by +1.17% in March. The fund has a track record of 15 years and 11 months and has outperformed the ASX 200 Total Return Index since inception in May 2006, providing investors with an...
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13 Apr 2022 - Performance Report: Bennelong Kardinia Absolute Return Fund
By: FundMonitors.com
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| Fund Overview | There is a slight bias to large cap stocks on the long side of the portfolio, although in a rising market the portfolio will tend to hold smaller caps, including resource stocks, more frequently. On the short side, the portfolio is particularly concentrated, with stock selection limited by both liquidity and the difficulty of borrowing stock in smaller cap companies. Short positions are only taken when there is a high conviction view on the specific stock. The Fund uses derivatives in a limited way, mainly selling short dated covered call options to generate additional income. These typically have less than 30 days to expiry, and are usually 5% to 10% out of the money. ASX SPI futures and index put options can be used to hedge the portfolio's overall net position. The Fund's discretionary investment strategy commences with a macro view of the economy and direction to establish the portfolio's desired market exposure. Following this detailed sector and company research is gathered from knowledge of the individual stocks in the Fund's universe, with widespread use of broker research. Company visits, presentations and discussions with management at CEO and CFO level are used wherever possible to assess management quality across a range of criteria. |
| Manager Comments | The Bennelong Kardinia Absolute Return Fund has a track record of 15 years and 11 months and has outperformed the ASX 200 Total Return Index since inception in May 2006, providing investors with an annualised return of 8.07% compared with the index's return of 6.72% over the same period. On a calendar year basis, the fund has experienced a negative annual return on 2 occasions in the 15 years and 11 months since its inception. Over the past 12 months, the fund's largest drawdown was -7.06% vs the index's -6.35%, and since inception in May 2006 the fund's largest drawdown was -11.71% vs the index's maximum drawdown over the same period of -47.19%. The fund's maximum drawdown began in June 2018 and lasted 2 years and 6 months, reaching its lowest point during December 2018. The fund had completely recovered its losses by December 2020. During this period, the index's maximum drawdown was -26.75%. The Manager has delivered these returns with 6.49% 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 0.68 since inception. The fund has provided positive monthly returns 87% 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 16% and a down-capture ratio of 52%. |
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Performance Report: Bennelong Emerging Companies Fund
12 Apr 2022 - FundMonitors.com
The Bennelong Emerging Companies Fund rose by +4.05% in March. The fund has outperformed the ASX 200 Total Return Index since inception in November 2017, providing investors with an annualised return of 25.06% compared with the index's...
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12 Apr 2022 - Performance Report: Bennelong Emerging Companies Fund
By: FundMonitors.com
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| Manager Comments | The Bennelong Emerging Companies Fund has a track record of 4 years and 5 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 November 2017, providing investors with an annualised return of 25.06% compared with the index's return of 9.75% over the same period. On a calendar year basis, the fund has only experienced a negative annual return once in the 4 years and 5 months since its inception. Over the past 12 months, the fund's largest drawdown was -11.38% vs the index's -6.35%, and since inception in November 2017 the fund's largest drawdown was -41.74% vs the index's maximum drawdown over the same period of -26.75%. The fund's maximum drawdown began in December 2019 and lasted 10 months, reaching its lowest point during March 2020. The fund had completely recovered its losses by October 2020. The Manager has delivered these returns with 14.57% more volatility than the index, contributing to a Sharpe ratio which has fallen below 1 three times over the past four years and which currently sits at 0.89 since inception. The fund has provided positive monthly returns 81% of the time in rising markets and 38% of the time during periods of market decline, contributing to an up-capture ratio since inception of 270% and a down-capture ratio of 117%. |
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Performance Report: DS Capital Growth Fund
11 Apr 2022 - FundMonitors.com
The DS Capital Growth Fund rose by +4.13% in March. The Fund has a track record of 9 years and 3 months and has outperformed the ASX 200 Total Return Index since inception in January 2013, providing investors with an annualised return of...
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11 Apr 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 3 months and has outperformed the ASX 200 Total Return Index since inception in January 2013, providing investors with an annualised return of 14.92% compared with the index's return of 9.78% over the same period. 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 -10.71% vs the index's -6.35%, 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 2.1% less 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 1.15 since inception. The fund has provided positive monthly returns 89% of the time in rising markets and 36% of the time during periods of market decline, contributing to an up-capture ratio since inception of 66% and a down-capture ratio of 51%. |
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Performance Report: Argonaut Natural Resources Fund
8 Apr 2022 - FundMonitors.com
The Argonaut Natural Resources Fund rose by +11.6% in March, an outperformance of +4.71% compared with the ASX 200 Total Return Index which rose by +6.89%. Over the past 12 months, the fund has risen by +97.82% compared with the index...
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8 Apr 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 3 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 61.35% compared with the index's return of 9.06% over the same period. On a calendar year basis, the fund hasn't experienced any negative annual returns in the 2 years and 3 months since its inception. Over the past 12 months, the fund's largest drawdown was -3.38% vs the index's -6.35%, and since inception in January 2020 the fund's largest drawdown was -14.61% vs the index's maximum drawdown over the same period of -26.75%. The fund's maximum drawdown began in February 2020 and lasted 3 months, reaching its lowest point during March 2020. The fund had completely recovered its losses by May 2020. The Manager has delivered these returns with 1.4% more volatility than the index, contributing to a Sharpe ratio for performance over the past 12 months of 4.57 and for performance since inception of 2.41. The fund has provided positive monthly returns 80% of the time in rising markets and 57% of the time during periods of market decline, contributing to an up-capture ratio since inception of 201% and a down-capture ratio of -16%. |
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Performance Report: AIM Global High Conviction Fund
7 Apr 2022 - FundMonitors.com
The AIM Global High Conviction Fund returned -0.97% in March, an outperformance of +0.05% compared with the Global Equity Index which fell by -1.02%. The fund has outperformed the index since inception in July 2019, providing investors...
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7 Apr 2022 - Performance Report: AIM Global High Conviction Fund
By: FundMonitors.com
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| Fund Overview | AIM are 'business-first' rather than 'security-first' investors, and see themselves as part owners of the businesses they invest in. AIM look for the following characteristics in the businesses they want to own: - Strong competitive advantages that enable consistently high returns on capital throughout an economic cycle, combined with the ability to reinvest surplus capital at high marginal returns. - A proven ability to generate and grow cash flows, rather than accounting based earnings. - A strong balance sheet and sensible capital structure to reduce the risk of failure when the economic cycle ends or an unexpected crisis occurs. - Honest and shareholder-aligned management teams that understand the principles behind value creation and have a proven track record of capital allocation. They look to buy businesses that meet these criteria at attractive valuations, and then intend to hold them for long periods of time. AIM intend to own between 15 and 25 businesses at any given point. They do not seek to generate returns by constantly having to trade in and out of businesses. Instead, they believe the Fund's long-term return will approximate the underlying economics of the businesses they own. They are bottom-up, fundamental investors. They are cognizant of macro-economic conditions and geo-political risks, however, they do not construct the Fund to take advantage of such events. AIM intend for the portfolio to be between 90% and 100% invested in equities. AIM do not engage in shorting, nor do they use leverage to enhance returns. The Fund's investable universe is global, and AIM look for businesses that have a market capitalisation of at least $7.5bn to guarantee sufficient liquidity to investors. |
| Manager Comments | The AIM Global High Conviction Fund has a track record of 2 years and 9 months and therefore comparison over all market conditions and against its peers is limited. However, the fund has outperformed the Global Equity Index since inception in July 2019, providing investors with an annualised return of 13.23% compared with the index's return of 10.89% over the same period. On a calendar year basis, the fund hasn't experienced any negative annual returns in the 2 years and 9 months since its inception. Over the past 12 months, the fund's largest drawdown was -11.11% vs the index's -8.41%, and since inception in July 2019 the fund's largest drawdown was -11.11% vs the index's maximum drawdown over the same period of -13.19%. The fund's maximum drawdown began in January 2022 and has lasted 2 months, reaching its lowest point during March 2022. During this period, the index's maximum drawdown was -8.41%. The Manager has delivered these returns with 0.67% more volatility than the index, contributing to a Sharpe ratio for performance over the past 12 months of 1 and for performance since inception of 1.1. The fund has provided positive monthly returns 90% of the time in rising markets and 0% of the time during periods of market decline, contributing to an up-capture ratio since inception of 112% and a down-capture ratio of 98%. |
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Performance Report: Argonaut Natural Resources Fund
30 Mar 2022 - FundMonitors.com
The Argonaut Natural Resources Fund rose by +4% in February, an outperformance of +1.86% compared with the ASX 200 Total Return Index which rose by +2.14%. Over the past 12 months, the fund has risen by +67.92% compared with the index...
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30 Mar 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 2 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 56.23% compared with the index's return of 6.11% over the same period. On a calendar year basis, the fund hasn't experienced any negative annual returns in the 2 years and 2 months since its inception. Over the past 12 months, the fund's largest drawdown was -3.38% vs the index's -6.35%, and since inception in January 2020 the fund's largest drawdown was -14.61% vs the index's maximum drawdown over the same period of -26.75%. The fund's maximum drawdown began in February 2020 and lasted 3 months, reaching its lowest point during March 2020. The fund had completely recovered its losses by May 2020. The Manager has delivered these returns with 1.25% more volatility than the index, contributing to a Sharpe ratio for performance over the past 12 months of 3.07 and for performance since inception of 2.28. The fund has provided positive monthly returns 79% of the time in rising markets and 57% of the time during periods of market decline, contributing to an up-capture ratio since inception of 195% and a down-capture ratio of -16%. |
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Fund Review: Insync Global Capital Aware Fund February 2022
25 Mar 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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25 Mar 2022 - Fund Review: Insync Global Capital Aware Fund February 2022
By: FundMonitors.com
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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 - February 2022 (pdf format)
Performance Report: Laureola Australia Feeder Fund
24 Mar 2022 - FundMonitors.com
Over the past 12 months, the Laureola Master Fund has risen by +3.06% compared with the Bloomberg AusBond Composite 0+ Yr Index which has fallen -1.09%, for a difference of +4.15%. The fund has outperformed the index since inception in May...
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24 Mar 2022 - Performance Report: Laureola Australia Feeder Fund
By: FundMonitors.com
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| Fund Overview | Life Settlements are resold life insurance policies and can be thought of as a form of finance extended to an individual backed by the person's life insurance policy. This financing is repaid upon maturity by collecting the death benefit from the insurance company. Risk mitigation measures implemented by Laureola include science-driven due diligence of policies, active monitoring of insured through a vertically integrated operation, and investor aligned fund design. |
| Manager Comments | The Laureola Master Fund has a track record of 8 years and 10 months and has outperformed the Bloomberg AusBond Composite 0+ Yr Index since inception in May 2013, providing investors with an annualised return of 14.5% compared with the index's return of 3.37% over the same period. On a calendar year basis, the fund hasn't experienced any negative annual returns in the 8 years and 10 months since its inception. Over the past 12 months, the fund's largest drawdown was -2.39% vs the index's -5.1%, and since inception in May 2013 the fund's largest drawdown was -4.9% vs the index's maximum drawdown over the same period of -5.39%. The fund's maximum drawdown began in December 2018 and lasted 10 months, reaching its lowest point during December 2018. The fund had completely recovered its losses by October 2019. During this period, the index's maximum drawdown was -0.98%. The Manager has delivered these returns with 2.15% more volatility than the index, contributing to a Sharpe ratio which has only fallen below 1 once over the past five years and which currently sits at 2.29 since inception. The fund has provided positive monthly returns 97% of the time in rising markets and 94% of the time during periods of market decline, contributing to an up-capture ratio since inception of 160% and a down-capture ratio of -223%. |
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Performance Report: Delft Partners Global High Conviction Strategy
24 Mar 2022 - FundMonitors.com
The Delft Partners Global High Conviction Strategy returned -4.37% in February, an outperformance of +1.37% compared with the Global Equity Index which fell by -5.74%. The strategy has outperformed the index since inception in August 2011,...
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24 Mar 2022 - Performance Report: Delft Partners Global High Conviction Strategy
By: FundMonitors.com
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| Fund Overview | The quantitative model is proprietary and designed in-house. The critical elements are Valuation, Momentum, and Quality (VMQ) and every stock in the global universe is scored and ranked. Verification of the quant model scores is then cross checked by fundamental analysis in which a company's Accounting policies, Governance, and Strategic positioning is evaluated. The manager believes strategy is suited to investors seeking returns from investing in global companies, diversification away from Australia and a risk aware approach to global investing. It should be noted that this is a strategy in an IMA format and is not offered as a fund. An IMA solution can be a more cost and tax effective solution, for clients who wish to own fewer stocks in a long only strategy. |
| Manager Comments | The Delft Partners Global High Conviction Strategy has a track record of 10 years and 7 months and has outperformed the Global Equity Index since inception in August 2011, providing investors with an annualised return of 15.08% compared with the index's return of 13.83% over the same period. On a calendar year basis, the strategy has experienced a negative annual return on 2 occasions in the 10 years and 7 months since its inception. Over the past 12 months, the strategy's largest drawdown was -5.12% vs the index's -7.46%, and since inception in August 2011 the strategy's largest drawdown was -13.33% vs the index's maximum drawdown over the same period of -13.19%. The strategy's maximum drawdown began in February 2020 and lasted 1 year, reaching its lowest point during July 2020. The strategy had completely recovered its losses by February 2021. The Manager has delivered these returns with 1.37% 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 1.11 since inception. The strategy has provided positive monthly returns 88% of the time in rising markets and 13% of the time during periods of market decline, contributing to an up-capture ratio since inception of 100% and a down-capture ratio of 93%. |
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