NEWS

Performance Report: Equitable Investors Dragonfly Fund

23 Aug 2021 - Australian Fund Monitors

The Equitable Investors Dragonfly Fund rose by +6.84% in July, an outperformance of +5.74% compared with the ASX 200 Total Return Index which rose by +1.1%. Over the past 12 months, the fund has risen by +67.27% compared with the index...

23 Aug 2021 - Performance Report: Equitable Investors Dragonfly Fund

By: Australian Fund Monitors

Report Date	23 August 2021
Manager	Equitable Investors
Fund Name	Equitable Investors Dragonfly Fund
Strategy	Equity Long
Latest Return Date	July 2021
Latest Return	6.84%
Latest 6 Months	24.01%
Latest 12 Months	67.27%
Latest 24 Months (pa)	15.43%
Annualised Since Inception	2.52%
Inception Date	01 September 2017
FUM (millions)
Fund Overview	The Equitable Investors Dragonfly Fund aims to deliver a total return greater than the annual five year government bond rate + 5% pa over the medium-to-long term. 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	The Equitable Investors Dragonfly Fund rose by +6.84% in July, an outperformance of +5.74% compared with the ASX 200 Total Return Index which rose by +1.1%. Over the past 12 months, the fund has risen by +67.27% compared with the index which has returned +28.56%, for a difference of +38.71%. The fund's up-capture ratio for returns since inception is 73.06%. Over all other periods, the fund's up-capture ratio has ranged from a high of 216.95% over the most recent 12 months to a low of 90.99% over the latest 36 months. An up-capture ratio greater than 100% indicates that, on average, the fund has outperformed in the market's positive months over the specified period. The fund has achieved a down-capture ratio over the past 12 months of 83.85%, indicating that, on average, the fund outperformed in the months the market fell over that period.
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Performance Report: Delft Partners Global High Conviction Strategy

20 Aug 2021 - Australian Fund Monitors

The Delft Partners Global High Conviction Strategy rose by +2.28% in July. Since inception in July 2011, the strategy has returned +16.1% per annum, a difference of +1.18% relative to the Global Equity Index which has returned +14.92% on...

20 Aug 2021 - Performance Report: Delft Partners Global High Conviction Strategy

By: Australian Fund Monitors

Report Date	20 August 2021
Manager	Delft Partners
Fund Name	Delft Partners Global High Conviction Strategy
Strategy	Equity Long
Latest Return Date	July 2021
Latest Return	2.28%
Latest 6 Months	18.65%
Latest 12 Months	35.26%
Latest 24 Months (pa)	13.68%
Annualised Since Inception	16.10%
Inception Date	15 July 2011
FUM (millions)	AU$11
Fund Overview	The Global High Conviction Strategy seeks to outperform the MSCI World Index by 3-5% p.a. over rolling 5 year periods. The Fund invests in companies listed on major global developed market exchanges by combining 'fundamental' analysis with quantitative stock selection tools. There is typically a bias to large caps and a 'value' tilt resulting in higher dividend yield than the index. 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 rose by +2.28% in July, a difference of -0.49% compared with the Global Equity Index which rose by +2.77%. Since inception in July 2011, the strategy has returned +16.1% per annum, a difference of +1.18% relative to the index which has returned +14.92% on an annualised basis over the same period. The strategy's Sharpe ratio has ranged from a high of 2.79 for performance over the most recent 12 months to a low of 0.84 over the latest 36 months, and is 1.17 for performance since inception. By contrast, the Global Equity Index's Sharpe for performance since August 2011 is 1.22. Since inception in July 2011 in the months where the market was positive, the strategy has provided positive returns 88% of the time, contributing to an up-capture ratio for returns since inception of 102.05%. Over all other periods, the strategy's up-capture ratio has ranged from a high of 115.29% over the most recent 12 months to a low of 88.77% over the latest 60 months. An up-capture ratio greater than 100% indicates that, on average, the strategy has outperformed in the market's positive months over the specified period. The strategy's down-capture ratio for returns since inception is 93.69%. Over all other periods, the strategy's down-capture ratio has ranged from a high of 113.63% over the most recent 36 months to a low of 20.82% over the latest 12 months. A down-capture ratio less than 100% indicates that, on average, the strategy has outperformed in the market's negative months over the specified period.
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Fund Review: Bennelong Twenty20 Australian Equities Fund July 2021

20 Aug 2021 - Australian Fund Monitors

The latest Fund Review on Bennelong Twenty20 Australian Equities Fund is now available. The Fund invests in ASX listed stocks, combining an indexed position in the Top 20 stocks with an actively managed portfolio of ex-20 stocks.

Performance Report: Longlead Pan-Asian Absolute Return Fund

20 Aug 2021 - Australian Fund Monitors

The Longlead Pan-Asian Absolute Return Fund returned -1.29% in July as concerns over the spread of the Delta COVID variant across the region and a Chinese government regulatory crackdown on companies in the technology, education and...

20 Aug 2021 - Performance Report: Longlead Pan-Asian Absolute Return Fund

By: Australian Fund Monitors

Report Date	20 August 2021
Manager	Longlead Capital Partners
Fund Name	Longlead Pan-Asian Absolute Return Fund
Strategy	Equity Long/Short
Latest Return Date	July 2021
Latest Return	-1.29%
Latest 6 Months	-4.36%
Latest 12 Months
Latest 24 Months (pa)
Annualised Since Inception	-7.22%
Inception Date	01 December 2020
FUM (millions)	AU$81
Fund Overview	The Fund will invest substantially all of its assets, to the extent not retained in cash or cash equivalents, in Class G Participating Shares of the Longlead Absolute Return Feeder Fund Ltd, an exempted company incorporated with limited liability in the Cayman Islands, which in turn invests substantially all of its assets in Longlead Absolute Return Master Fund Ltd, an exempted company incorporated with limited liability in the Cayman Islands, which predominantly deploys a long/short investment strategy based on fundamental, bottom up stock selection procedures and employs risk management techniques designed to manage portfolio risk.
Manager Comments	The Longlead Pan-Asian Absolute Return Fund generated a net loss of -1.29% in July as concerns over the spread of the Delta COVID variant across the region and a Chinese government regulatory crackdown on companies in the technology, education and property services industries saw equity market sentiment turn sharply negative and many Pan-Asian markets sell off. With the focus of these events mainly on China and Hong Kong, the Fund's long positions in these geographies detracted from performance with the MSCI China Index falling 12% and the Hang Seng Index, 8% in the month. Despite this, the Fund's shorts and hedging positions in these same markets performed well to more than offset this impact resulting in China exposures overall navigating the volatility and being profitable for the Fund in July. However the risk-off sentiment extended to other markets with indirect China exposure such as Taiwan and Singapore, with longs in those markets generating a loss for the Fund. In terms of sector performance, losses were posted in Health Care, Information Technology and Consumer Discretionary holdings, while gains were recorded in Materials and hedging positions. Notwithstanding the recent regulatory driven volatility in Pan Asian markets centred on China, Longlead note that recent moves by the Chinese government signal a potential neutralisation of the monetary tightening headwinds and acceleration of fiscal spending as we approach the end of the year.
More Information	View Fund's Profile View Manager's Report

Performance Report: Prime Value Emerging Opportunities Fund

19 Aug 2021 - Australian Fund Monitors

The Prime Value Emerging Opportunities Fund rose by +0.59% in July, and over the past 12 months has risen by +37.97% compared with the index's +28.56%. Since inception in October 2015, the fund has returned +16.17% per annum, a difference...

19 Aug 2021 - Performance Report: Prime Value Emerging Opportunities Fund

By: Australian Fund Monitors

Report Date	19 August 2021
Manager	Prime Value Asset Management
Fund Name	Prime Value Emerging Opportunities Fund
Strategy	Equity Long
Latest Return Date	July 2021
Latest Return	0.59%
Latest 6 Months	13.82%
Latest 12 Months	37.97%
Latest 24 Months (pa)	26.58%
Annualised Since Inception	16.17%
Inception Date	08 October 2015
FUM (millions)	AU$59.79
Fund Overview	The Prime Value Emerging Opportunities Fund invests in companies in the diversified emerging companies sector. The Fund seeks to achieve superior total returns over the medium to long term without the constraints of a benchmark. It is a long only concentrated fund that leverages Prime Value's fundamental research capabilities while minimizing the risk of permanent capital loss. The Fund is comprised of a concentrated portfolio of securities outside the ASX100. The fund may invest up to 10% in global equities but for this portion typically only invests in New Zealand. Investments are primarily made in ASX listed and other exchange listed Australian securities, however, it may also invest up to 10% in unlisted Australian securities. The Fund is designed for investors seeking medium to long term capital growth who are prepared to accept fluctuations in short term returns. The suggested minimum investment time frame is 3 years.
Manager Comments	The Prime Value Emerging Opportunities Fund rose by +0.59% in July, and over the past 12 months has risen by +37.97% compared with the index's +28.56%. Since inception in October 2015, the fund has returned +16.17% per annum, a difference of +5.08% relative to the index which has returned +11.09% on an annualised basis over the same period. The fund's Sharpe ratio has ranged from a high of 3.32 for performance over the most recent 12 months to a low of 0.91 over the latest 60 months, and is 1.03 for performance since inception. By contrast, the ASX 200 Total Return Index's Sharpe for performance since October 2015 is 0.75. The fund's down-capture ratio for returns since inception is 45.74%. Over all other periods, the fund's down-capture ratio has ranged from a high of 68.03% over the most recent 36 months to a low of -4.64% over the latest 12 months. A down-capture ratio less than 100% indicates that, on average, the fund has outperformed in the market's negative months over the specified period, and negative down-capture ratio indicates that, on average, the fund delivered positive returns in the months the market fell. Over the past 12 months, 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 -3.66%. Since inception in October 2015, the fund's largest drawdown was -23.79% vs the index's maximum drawdown over the same period of -26.75%.
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Performance Report: 4D Global Infrastructure Fund

19 Aug 2021 - Australian Fund Monitors

The 4D Global Infrastructure Fund rose by +2.06% in July, an outperformance of +1.08% compared with the S&P Global Infrastructure Total Return Index which rose by +0.98%. Since inception in March 2016, the fund has returned +10.35% per...

19 Aug 2021 - Performance Report: 4D Global Infrastructure Fund

By: Australian Fund Monitors

Report Date	19 August 2021
Manager	4D Infrastructure, a Bennelong Boutique
Fund Name	4D Global Infrastructure Fund
Strategy	Infrastructure
Latest Return Date	July 2021
Latest Return	2.06%
Latest 6 Months	13.55%
Latest 12 Months	16.09%
Latest 24 Months (pa)	3.93%
Annualised Since Inception	10.35%
Inception Date	07 March 2016
FUM (millions)	AU$264.6
Fund Overview	The 4D Global Infrastructure Fund aims to outperform the OECD G7 Inflation Index +5.5% p.a. over the long term by identifying quality listed global infrastructure securities, trading at or below fair value with sustainable, growing earning combined with sustainable, growing dividends. The fund will be managed as a single portfolio of listed global infrastructure securities 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 rose by +2.06% in July, an outperformance of +1.08% compared with the S&P Global Infrastructure Total Return Index which rose by +0.98%. Since inception in March 2016, the fund has returned +10.35% per annum, a difference of +1.87% relative to the index which has returned +8.48% on an annualised basis over the same period. The fund's returns over the past 12 months have been achieved with a volatility of 12.41% vs the index's 14.02%. The annualised volatility of the fund's returns since inception in March 2016 is 12.35% vs the index's 16%. Over all other periods, the fund's returns have been consistently less volatile than the index. The fund's down-capture ratio for returns since inception is 55.14%. Over all other periods, the fund's down-capture ratio has ranged from a high of 61.76% over the most recent 24 months to a low of 46.28% over the latest 12 months. A down-capture ratio less than 100% indicates that, on average, the fund has outperformed in the market's negative months over the specified period.
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Performance Report: Surrey Australian Equities Fund

19 Aug 2021 - Australian Fund Monitors

The Surrey Australian Equities Fund rose by +0.35% in July. Since inception in June 2018, the fund has returned +12.01% per annum, a difference of +1.46% relative to the index which has returned +10.55% on an annualised basis over the same period.

19 Aug 2021 - Performance Report: Surrey Australian Equities Fund

By: Australian Fund Monitors

Report Date	19 August 2021
Manager	Surrey Asset Management
Fund Name	Surrey Australian Equities Fund
Strategy	Equity Long
Latest Return Date	July 2021
Latest Return	0.35%
Latest 6 Months	10.61%
Latest 12 Months	29.92%
Latest 24 Months (pa)	14.88%
Annualised Since Inception	12.01%
Inception Date	01 June 2018
FUM (millions)	AU$18
Fund Overview	The Investment Manager will be primarily focussed on investing in companies listed in the S&P/ASX Small Ordinaries Index while retaining capacity to invest up to 30% of the Fund in ASX listed companies outside this benchmark. The Investment Manager believes this approach offers attractive, under researched investment opportunities that can provide capital upside and growing dividend income over rolling 5-year periods. The Investment Manager follows a defined investment process which is underpinned by detailed bottom up fundamental analysis, overlayed with sectoral and macroeconomic research. This is combined with an extensive company visitation program where we endeavour to meet with company management and with other stakeholders such as suppliers, customers and industry bodies to improve our information set. Surrey Asset Management defines its investment process as Qualitative, Quantitative and Value Latencies (QQV). In essence, the Investment Manager thoroughly researches an investment's qualitative and quantitative characteristics in an attempt to find value latencies not yet reflected in the share price and then clearly defines a roadmap to realisation of those latencies. Developing this roadmap is a key step in the investment process. By articulating a clear pathway as to how and when an investment can realise what the Investment Manager sees as latent value, defines the investment proposition and lessens the impact of cognitive dissonance. This is undertaken with a philosophical underpinning of fact-based investing, transparency, authenticity and accountability.
Manager Comments	The Surrey Australian Equities Fund rose by +0.35% in July. Over the past 12 months, the fund has risen by +29.92% compared with the index which has returned +28.56%, for a difference of +1.36%. Since inception in June 2018, the fund has returned +12.01% per annum, a difference of +1.46% relative to the index which has returned +10.55% on an annualised basis over the same period. The fund's Sharpe ratio has ranged from a high of 1.75 for performance over the most recent 12 months to a low of 0.6 over the latest 36 months, and is 0.61 for performance since inception. By contrast, the ASX 200 Total Return Index's Sharpe for performance since June 2018 is 0.64. Since inception in June 2018 in the months where the market was positive, the fund has provided positive returns 82% of the time, contributing to an up-capture ratio for returns since inception of 116.76%. Over all other periods, the fund's up-capture ratio has ranged from a high of 134.24% over the most recent 24 months to a low of 96.55% over the latest 12 months. An up-capture ratio greater than 100% indicates that, on average, the fund has outperformed in the market's positive months over the specified period.
More Information	View Fund's Profile View Manager's Report

Performance Report: Premium Asia Fund

18 Aug 2021 - Australian Fund Monitors

Over the past 12 months, the Premium Asia Fund has risen by +26.24% vs the Asia Pacific ex-Japan Index's +16.87%, and since inception in December 2009, the fund has returned +12.5% per annum, a difference of +6.03% relative to the index...

18 Aug 2021 - Performance Report: Premium Asia Fund

By: Australian Fund Monitors

Report Date	18 August 2021
Manager	Premium China Funds Management
Fund Name	Premium Asia Fund
Strategy	Equity Long
Latest Return Date	July 2021
Latest Return	-6.83%
Latest 6 Months	3.02%
Latest 12 Months	26.24%
Latest 24 Months (pa)	18.43%
Annualised Since Inception	12.50%
Inception Date	01 December 2009
FUM (millions)	AU$48.37
Fund Overview	The Fund aims to generate positive returns over a three to five year period, prior to exchange rate effects, by constructing a portfolio of securities which provides exposure to the Asia (ex-Japan) region. 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	Over the past 12 months, the Premium Asia Fund has risen by +26.24% vs the Asia Pacific ex-Japan Index's +16.87%, and since inception in December 2009, the fund has returned +12.5% per annum, a difference of +6.03% relative to the index which has returned +6.47% on an annualised basis over the same period. The fund's Sharpe ratio has ranged from a high of 2.2 for performance over the most recent 12 months to a low of 1 over the latest 36 months, and is 0.81 for performance since inception. By contrast, the Asia Pacific ex-Japan Index's Sharpe for performance since December 2009 is 0.45. Since inception in December 2009 in the months where the market was positive, the fund has provided positive returns 86% of the time, contributing to an up-capture ratio for returns since inception of 153.06%. Over all other periods, the fund's up-capture ratio has ranged from a high of 152.3% over the most recent 12 months to a low of 128.74% over the latest 36 months. An up-capture ratio greater than 100% indicates that, on average, the fund has outperformed in the market's positive months over the specified period. The fund's down-capture ratio for returns since inception is 88.23%. Over all other periods, the fund's down-capture ratio has ranged from a high of 131.39% over the most recent 12 months to a low of 97.92% over the latest 36 months. A down-capture ratio less than 100% indicates that, on average, the fund has outperformed in the market's negative months.
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Performance Report: Cyan C3G Fund

18 Aug 2021 - Australian Fund Monitors

The Cyan C3G Fund rose by +1.83% in July, an outperformance of +1.15% compared with the ASX Small Ordinaries Total Return Index which rose by +0.68%. Since inception in July 2014, the fund has returned +15.58% per annum, a difference of...

18 Aug 2021 - Performance Report: Cyan C3G Fund

By: Australian Fund Monitors

Report Date	18 August 2021
Manager	Cyan Investment Management
Fund Name	Cyan C3G Fund
Strategy	Equity Long
Latest Return Date	July 2021
Latest Return	1.83%
Latest 6 Months	2.00%
Latest 12 Months	22.09%
Latest 24 Months (pa)	5.26%
Annualised Since Inception	15.58%
Inception Date	24 July 2014
FUM (millions)	AU$41
Fund Overview	The Cyan C3G Fund operates as a wholesale unregistered managed investment scheme under a unit trust structure. The Fund primarily invests in ASX listed companies outside the ASX 100 and typically holds between 15-35 stocks. 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 rose by +1.83% in July, an outperformance of +1.15% compared with the ASX Small Ordinaries Total Return Index which rose by +0.68%. Since inception in July 2014, the fund has returned +15.58% per annum, a difference of +6.16% relative to the index which has returned +9.42% on an annualised basis over the same period. The fund's down-capture ratio for returns since inception is 51.75%. Over all other periods, the fund's down-capture ratio has ranged from a high of 123.68% over the most recent 12 months to a low of 76.77% 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 over the specified period. The fund's Sharpe ratio has ranged from a high of 1.21 for performance over the most recent 12 months to a low of 0.31 over the latest 36 months, and is 0.89 for performance since inception. By contrast, the ASX Small Ordinaries Total Return Index's Sharpe for performance since August 2014 is 0.55. Its Sortino ratio (which excludes volatility in positive months) has ranged from a high of 2.86 for performance over the most recent 12 months to a low of 0.26 over the latest 24 months, and is 1.24 for performance since inception. By contrast, the ASX Small Ordinaries Total Return Index's Sortino for performance since August 2014 is 0.66.
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Performance Report: Bennelong Concentrated Australian Equities Fund

18 Aug 2021 - Australian Fund Monitors

The Bennelong Concentrated Australian Equities Fund rose by +1.43% in July, an outperformance of +0.33% compared with the ASX 200 Total Return Index which rose by +1.1%. Since inception in January 2009, the fund has returned +17.4% per...

18 Aug 2021 - Performance Report: Bennelong Concentrated Australian Equities Fund

By: Australian Fund Monitors

Report Date	18 August 2021
Manager	Bennelong Australian Equity Partners (BAEP), a Bennelong boutique
Fund Name	Bennelong Concentrated Australian Equities Fund
Strategy	Equity Long
Latest Return Date	July 2021
Latest Return	1.43%
Latest 6 Months	15.15%
Latest 12 Months	41.01%
Latest 24 Months (pa)	22.75%
Annualised Since Inception	17.40%
Inception Date	30 January 2009
FUM (millions)	AU$1729.25
Fund Overview	Bennelong Australian Equity Partners (BAEP) is a boutique asset manager offering Australian equities solutions for institutional and retail clients. The business was founded in 2008 by Paul Cuddy and Mark East, in partnership with Bennelong Funds Management. Prior to establishing BAEP, Paul and Mark were Co-Heads of Australian Equities at ING Investment Management. The overriding objective of the Concentrated Australian Equities Fund is to seek investment opportunities which are under-appreciated and have the potential to deliver positive earnings, while satisfying our stringent quality criteria. Bennelong's investment process combines bottom-up fundamental analysis together with proprietary investment tools which are used to build and maintain high quality portfolios that are risk aware. The portfolio typically consists of 20-35 high-conviction stocks from the S&P/ASX 300 Index. The Fund may invest in securities listed on other exchanges where such securities relate to ASX-listed securities. Derivative instruments are mainly used to replicate underlying positions and hedge market and company specific risks.
Manager Comments	The Bennelong Concentrated Australian Equities Fund rose by +1.43% in July, an outperformance of +0.33% compared with the ASX 200 Total Return Index which rose by +1.1%. Since inception in January 2009, the fund has returned +17.4% per annum, a difference of +6.73% relative to the index which has returned +10.67% on an annualised basis over the same period. The fund's returns over the past 12 months have been achieved with a volatility of 10.39% vs the index's 10.35%. The annualised volatility of the fund's returns since inception in January 2009 is 14.85% vs the index's 13.54%. Over all other periods, the fund's returns have been more volatile than the index. The fund's Sharpe ratio has ranged from a high of 3.39 for performance over the most recent 12 months to a low of 0.72 over the latest 36 months, and is 1.01 for performance since inception. By contrast, the ASX 200 Total Return Index's Sharpe for performance since February 2009 is 0.65. Since inception in January 2009 in the months where the market was positive, the fund has provided positive returns 92% of the time, contributing to an up-capture ratio for returns since inception of 154.93%. Over all other periods, the fund's up-capture ratio has ranged from a high of 139.89% over the most recent 24 months to a low of 118.32% over the latest 36 months. An up-capture ratio greater than 100% indicates that, on average, the fund has outperformed in the market's positive months over the specified period.
More Information	View Fund's Profile View Manager's Report

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NEWS

23 Aug 2021 - Performance Report: Equitable Investors Dragonfly Fund

20 Aug 2021 - Performance Report: Delft Partners Global High Conviction Strategy

20 Aug 2021 - Fund Review: Bennelong Twenty20 Australian Equities Fund July 2021

20 Aug 2021 - Performance Report: Longlead Pan-Asian Absolute Return Fund

19 Aug 2021 - Performance Report: Prime Value Emerging Opportunities Fund

19 Aug 2021 - Performance Report: 4D Global Infrastructure Fund

19 Aug 2021 - Performance Report: Surrey Australian Equities Fund

18 Aug 2021 - Performance Report: Premium Asia Fund

18 Aug 2021 - Performance Report: Cyan C3G Fund

18 Aug 2021 - Performance Report: Bennelong Concentrated Australian Equities Fund

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