NEWS
Performance Report: Airlie Australian Share Fund
20 Jan 2022 - FundMonitors.com
The Airlie Australian Share Fund rose +3.21% in December, outperforming the ASX200 Total Return Index by +0.46% and taking 12-month performance to +28.76% vs the index's +17.23%. Since inception in June 2018, the fund has outperformed the...
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20 Jan 2022 - Performance Report: Airlie Australian Share Fund
By: FundMonitors.com
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| Fund Overview | The Fund is long-only with a bottom-up focus. It has a concentrated portfolio of 15-35 stocks (target 25). The fund has a maximum cash holding of 10% with an aim to be fully invested. Airlie employs a prudent investment approach that identifies companies based on their financial strength, attractive durable business characteristics and the quality of their management teams. Airlie invests in these companies when their view of their fair value exceeds the prevailing market price. It is jointly managed by Matt Williams and Emma Fisher. Matt has over 25 years' investment experience and formerly held the role of Head of Equities and Portfolio Manager at Perpetual Investments. Emma has over 8 years' investment experience and has previously worked as an investment analyst within the Australian equities team at Fidelity International and, prior to that, at Nomura Securities. |
| Manager Comments | The Airlie Australian Share Fund has a track record of 3 years and 7 months and therefore comparison over all market conditions and against the fund's peers is limited. However, since inception in June 2018, the fund has outperformed the ASX 200 Total Return Index, providing investors with an annualised return of 14.51%, compared with the index's return of 10.09% over the same time period. On a calendar basis the fund has had 1 negative annual return in the 3 years and 7 months since its inception. Its largest drawdown was -23.8% lasting 9 months, occurring between February 2020 and November 2020 when the index fell by a maximum of -26.75%. The Manager has delivered these returns with -0.44% less volatility than the index, contributing to a Sharpe ratio which has fallen below 1 twice and currently sits at 0.91 since inception. The fund has provided positive monthly returns 100% of the time in rising markets, and 15% of the time when the market was negative, contributing to an up capture ratio since inception of 114% and a down capture ratio of 90%. |
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Performance Report: 4D Global Infrastructure Fund
20 Jan 2022 - FundMonitors.com
The 4D Global Infrastructure Fund rose +2.93% in December. Over the past 12 months, the fund has returned +11.17%. The fundhas outperformed the S&P Global Infrastructure TR Index (AUD) since inception in March 2016, providing investors...
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20 Jan 2022 - Performance Report: 4D Global Infrastructure Fund
By: FundMonitors.com
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| Fund Overview | The fund is managed as a single portfolio including regulated utilities in gas, electricity and water, transport infrastructure such as airports, ports, road and rail, as well as communication assets such as the towers and satellite sectors. The portfolio is intended to have exposure to both developed and emerging market opportunities, with country risk assessed internally before any investment is considered. The maximum absolute position of an individual stock is 7% of the fund. |
| Manager Comments | The 4D Global Infrastructure Fund has a track record of 5 years and 10 months and has outperformed the S&P Global Infrastructure TR Index (AUD) since inception in March 2016, providing investors with a return of 9.75%, compared with the index's return of 8.45% over the same time period. On a calendar basis the fund has had 1 negative annual return in the 5 years and 10 months since its inception. Its largest drawdown was -19.77% lasting 1 year and 10 months, occurring between February 2020 and December 2021 when the index fell by a maximum of -24.67%. The Manager has delivered these returns with -0.54% less volatility than the index, contributing to a Sharpe ratio which has fallen below 1 five times and currently sits at 0.75 since inception. The fund has provided positive monthly returns 95% of the time in rising markets, and 14% of the time when the market was negative, contributing to an up capture ratio since inception of 102% and a down capture ratio of 94%. |
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Performance Report: Delft Partners Global High Conviction Strategy
19 Jan 2022 - FundMonitors.com
The Delft Partners Global High Conviction Strategy returned +4.23% in December vs the Global Equity Index's +1.97%. Over the past 12 months the strategy has risen +28.35% vs the index's +25.41%. The strategy has outperformed the index...
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19 Jan 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 6 months and has outperformed the Global Equity Index since inception in August 2011, providing investors with a return of 15.92%, compared with the index's return of 14.92% over the same time period. On a calendar basis the strategy has had 2 negative annual returns in the 10 years and 6 months since its inception. Its largest drawdown was -13.33% lasting 12 months, occurring between February 2020 and February 2021 when the index fell by a maximum of -13.19%. The Manager has delivered higher returns but with higher volatility than the index, resulting in a Sharpe ratio which has fallen below 1 three times and currently sits at 1.17 since inception. The strategy has provided positive monthly returns 88% of the time in rising markets, and 14% of the time when the market was negative, contributing to an up capture ratio since inception of 100% and a down capture ratio of 93%. |
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Performance Report: Bennelong Long Short Equity Fund
19 Jan 2022 - FundMonitors.com
The Bennelong Long Short Equity Fund rose +1.34% in December. The fund has outperformed the ASX 200 Total Return Index since inception in February 2002, providing investors with a return of 14.22%, compared with the index's return of 8.42%...
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19 Jan 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 1 month and has outperformed the ASX 200 Total Return Index since inception in February 2002, providing investors with a return of 14.22%, compared with the index's return of 8.42% over the same time period. On a calendar basis the fund has had 3 negative annual returns in the 20 years and 1 month since its inception. Its largest drawdown was -23.77% lasting 15 months, occurring between September 2020 and December 2021 when the index fell by a maximum of -15.05%. The Manager has delivered these returns with -0.35% less volatility than the index, contributing to a Sharpe ratio which has fallen below 1 over five times and currently sits at 0.84 since inception. The fund has provided positive monthly returns 65% of the time in rising markets, and 63% of the time when the market was negative, contributing to an up capture ratio since inception of 6% and a down capture ratio of -144%. |
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Performance Report: Insync Global Quality Equity Fund
19 Jan 2022 - FundMonitors.com
The Insync Global Quality Equity Fund rose +0.35% in December, taking 12-month performance to +27.03% vs the Global Equity Index's +25.41%. The fund has consistently outperformed the index since inception in October 2009, providing...
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19 Jan 2022 - Performance Report: Insync Global Quality Equity 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. 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 Quality Equity Fund has a track record of 12 years and 4 months and has consistently outperformed the Global Equity Index since inception in October 2009, providing investors with a return of 14.91%, compared with the index's return of 12.24% over the same time period. On a calendar basis the fund has had 1 negative annual return in the 12 years and 4 months since its inception. Its largest drawdown was -12.64% lasting 7 months, occurring between September 2018 and April 2019 when the index fell by a maximum of -10.57%. The Manager has delivered higher returns but with higher volatility than the index, resulting in a Sharpe ratio which has never fallen below 1 and currently sits at 1.12 since inception. The fund has provided positive monthly returns 82% of the time in rising markets, and 22% of the time when the market was negative, contributing to an up capture ratio since inception of 83% and a down capture ratio of 73%. |
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Performance Report: Bennelong Kardinia Absolute Return Fund
18 Jan 2022 - FundMonitors.com
The Bennelong Kardinia Absolute Return Fund rose +2.58% in December, taking 12-month performance to +6.58%. Since inception in May 2006, the Fund has returned +8.63% p.a. with an annualised volatility of 7.57% vs the ASX200 Total Return...
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18 Jan 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 | On a calendar basis the fund has had 2 negative annual returns in the 15 years and 10 months since its inception. Its largest drawdown was -11.71% lasting 2 years and 6 months, occurring between June 2018 and December 2020 when the index fell by a maximum of -26.75%. The Manager has delivered these returns with -6.52% less volatility than the index, contributing to a Sharpe ratio which has fallen below 1 five times and currently sits at 0.75 since inception. The fund has provided positive monthly returns 87% of the time in rising markets, and 34% of the time when the market was negative, contributing to an up capture ratio since inception of 17% and a down capture ratio of 49%. |
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Performance Report: Quay Global Real Estate Fund
18 Jan 2022 - FundMonitors.com
The Quay Global Real Estate Fund rose +3.72% in December. Over the past 12 months, the fund has returned +36.70% vs the ASX200 A-REIT Index's +26.15%. The fund has consistently outperformed the index since inception in January 2016,...
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18 Jan 2022 - Performance Report: Quay Global Real Estate Fund
By: FundMonitors.com
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| Fund Overview | The Fund will invest in a number of global listed real estate companies, groups or funds. The investment strategy is to make investments in real estate securities at a price that will deliver a real, after inflation, total return of 5% per annum (before costs and fees), inclusive of distributions over a longer-term period. The Investment Strategy is indifferent to the constraints of any index benchmarks and is relatively concentrated in its number of investments. The Fund is expected to own between 20 and 40 securities, and from time to time up to 20% of the portfolio maybe invested in cash. The Fund is $A un-hedged. |
| Manager Comments | The Quay Global Real Estate Fund has a track record of 5 years and 11 months and has consistently outperformed the S&P/ASX 200 A-REIT Index since inception in January 2016, providing investors with a return of 10.75%, compared with the index's return of 9.96% over the same time period. On a calendar basis the fund has had 1 negative annual return in the 5 years and 11 months since its inception. Its largest drawdown was -19.68% lasting 16 months, occurring between February 2020 and June 2021 when the index fell by a maximum of -38.29%. The Manager has delivered these returns with -8.38% less volatility than the index, contributing to a Sharpe ratio which has fallen below 1 three times and currently sits at 0.84 since inception. The fund has provided positive monthly returns 78% of the time in rising markets, and 26% of the time when the market was negative, contributing to an up capture ratio since inception of 45% and a down capture ratio of 56%. |
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Performance Report: Insync Global Capital Aware Fund
17 Jan 2022 - FundMonitors.com
The Insync Global Capital Aware Fund rose +0.34%, taking 12-month performance to +24.43% (after fees and protection) vs the Global Equity Index's +25.41%. The fund has outperformed the index since inception in October 2009, providing...
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17 Jan 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 4 months and has outperformed the Global Equity Index since inception in October 2009, providing investors with a return of 12.91%, compared with the index's return of 12.24% over the same time period. On a calendar basis the fund has had 2 negative annual returns in the 12 years and 4 months since its inception. Its largest drawdown was -10.98% lasting 7 months, occurring between September 2018 and April 2019 when the index fell by a maximum of -10.57%. The Manager has delivered higher returns but with higher volatility than the index, resulting in a Sharpe ratio which has never fallen below 1 and currently sits at 1.01 since inception. The fund has provided positive monthly returns 81% of the time in rising markets, and 24% of the time when the market was negative, contributing to an up capture ratio since inception of 59% and a down capture ratio of 66%. |
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Performance Report: Premium Asia Fund
17 Jan 2022 - FundMonitors.com
The Premium Asia Fund rose +0.27% in December, taking 12-month performance to +6.03% vs the MSCI All Country Asia Pacific ex-Japan's +0.77%. The fund has consistently outperformed the index since inception in December 2009, providing...
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17 Jan 2022 - Performance Report: Premium Asia Fund
By: FundMonitors.com
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| Fund Overview | The Fund is managed by Value Partners using a disciplined value-oriented approach supported by intensive, on-the-ground bottom-up fundamental research resulting in a portfolio of individual holdings, which are, in the view of Value Partners, undervalued and of high quality, on either an absolute or relative basis, and which have the potential for capital appreciation. The Fund will primarily have exposure to the equity securities of entities listed on securities exchanges across the Asia (ex-Japan) region, however, the Fund may also gain exposure to entities listed on securities outside the Asia (ex-Japan) region which have significant assets, investments, production activities, trading or other business interests in the Asia (ex-Japan) region as well as unlisted instruments with equity-like characteristics, such as participatory notes and convertible bonds. The Fund may also invest in cash and money market instruments, depositary receipts, listed unit trusts, shares in mutual fund corporations and other collective investment schemes (including real estate investment trusts), derivatives including both exchange-traded and OTC, convertible securities, participatory notes, bonds, and foreign exchange contracts. |
| Manager Comments | The Premium Asia Fund has a track record of 12 years and 2 months and has consistently outperformed the MSCI All Country Asia Pacific ex-Japan Index since inception in December 2009, providing investors with a return of 11.94%, compared with the index's return of 5.78% over the same time period. On a calendar basis the fund has had 2 negative annual returns in the 12 years and 2 months since its inception. Its largest drawdown was -21.41% lasting 1 year and 11 months, occurring between June 2015 and May 2017 when the index fell by a maximum of -19.56%. The Manager has delivered higher returns but with higher volatility than the index, resulting in a Sharpe ratio which has fallen below 1 three times and currently sits at 0.78 since inception. The fund has provided positive monthly returns 89% of the time in rising markets, and 22% of the time when the market was negative, contributing to an up capture ratio since inception of 161% and a down capture ratio of 91%. |
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Performance Report: Cyan C3G Fund
14 Jan 2022 - FundMonitors.com
The Cyan C3G Fund rose +0.18% in December, taking 12-month performance to +8.94%. The fund has outperformed the ASX Small Ordinaries Total Return Index since inception in August 2014, providing investors with a return of 15.44%, compared...
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14 Jan 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 5 months and has outperformed the ASX Small Ordinaries Total Return Index since inception in August 2014, providing investors with a return of 15.44%, compared with the index's return of 9.56% over the same time period. On a calendar basis the fund has had 1 negative annual return in the 7 years and 5 months since its inception. Its largest drawdown was -36.45% lasting 16 months, occurring between October 2019 and February 2021 when the index fell by a maximum of -29.12%. The Manager has delivered these returns with -0.18% less volatility than the index, contributing to a Sharpe ratio which has fallen below 1 five times and currently sits at 0.9 since inception. The fund has provided positive monthly returns 85% of the time in rising markets, and 41% of the time when the market was negative, contributing to an up capture ratio since inception of 67% and a down capture ratio of 50%. |
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