Performance Report: Laureola Investment Fund

28 Jan 2021 - Australian Fund Monitors

The Laureola Investment Fund rose +0.93% in December, taking CY20 performance to +9.57% with a volatility of 1.98% vs the S&P500 Total Return Index's return of +18.40% with a volatility of 24.84%. Since inception in May 2013, the Fund has...

28 Jan 2021 - Performance Report: Laureola Investment Fund

By: Australian Fund Monitors

Report Date	28 January 2021
Manager	Laureola Advisors
Fund Name	Laureola Investment Fund
Strategy	Life Settlements
Latest Return Date	December 2020
Latest Return	0.93%
Latest 6 Months	5.43%
Latest 12 Months	9.57%
Latest 24 Months (pa)	8.71%
Annualised Since Inception	16.36%
Inception Date	01 May 2013
FUM (millions)	US$66
Fund Overview	A 'Life Settlement' is the transfer of the ownership and beneficial interest in a life insurance policy to a third party. The policy owner transfers their rights to the policy in return for an immediate cash payment. The buyer of the policy is then responsible for its maintenance and will be entitled to receive the policy benefits from the insurance company upon maturity. The investment strategy of The Laureola Investment Fund is dynamic and flexible, designed to take advantage of the frequent but temporary pricing anomalies of an asset class that is not yet fully understood by the majority of participants. Laureola Advisors applies 'best practices' common in the management of traditional assets, particularly the use of independent, in-house, proprietary research.
Manager Comments	The Laureola Investment Fund rose +0.93% in December, taking CY20 performance to +9.57% with a volatility of 1.98% vs the S&P500 Total Return Index's return of +18.40% with a volatility of 24.84%. Since inception in May 2013, the Fund has returned +16.36% p.a. with an annualised volatility of 5.60%. By contrast, the Index has returned +14.10% p.a. with an annualised volatility of 13.76% over the same period. The Fund has a down-capture ratio (since inception) of -37.68% which indicates that, on average, the Fund has risen during the S&P500's negative months - this highlights its uncorrelated nature. In their latest report, Laureola emphasise that the quality of returns is critical in Life Settlement Funds - the more generated from realised gains (cash profits) the better. In 2020, all of the Fund's returns (100%) were generated by realised gains. The Fund experienced 23 maturities during the year for a total payout of 19.8 ml, ahead of expectations. Laureola noted performance, especially performance due to mortality, continues to improve as it has since 2018. Laureola highlight that the Fund has been designed from inception to maximise safety; the investment focus is on mortality rather than accounting gains.
More Information	View Fund's Profile View Manager's Report

Performance Report: NWQ Fiduciary Fund

28 Jan 2021 - Australian Fund Monitors

The NWQ Fiduciary Fund rose +1.93% in December, taking 12-month performance to +6.42% with a volatility of 10.01% vs the ASX200 Accumulation Index's return of +1.40% with a volatility of 27.24%. Since inception in May 2013, the Fund has...

28 Jan 2021 - Performance Report: NWQ Fiduciary Fund

By: Australian Fund Monitors

Report Date	28 January 2021
Manager	NWQ Capital Management Pty Ltd
Fund Name	NWQ Fiduciary Fund
Strategy	Multi Strategy
Latest Return Date	December 2020
Latest Return	1.93%
Latest 6 Months	7.96%
Latest 12 Months	6.42%
Latest 24 Months (pa)	7.17%
Annualised Since Inception	5.81%
Inception Date	01 May 2013
FUM (millions)	AU$67
Fund Overview	The NWQ Fiduciary Fund (Fund), managed by NWQ Capital Management, is a diversified multi-manager portfolio, modelled on NWQ's Fiduciary Model Portfolio. The principal investment objective of the Fund is to produce attractive positive returns irrespective of market direction. This is achieved through active allocations to selective fund managers that employ a variety of traditional and absolute return strategies. The Fund places emphasis on managers who demonstrate a rigorous and repeatable investment process that has delivered a strong track record. The Fund aims to produce returns after management fees and expenses of RBA Cash Rate + 4.0-5.0% p.a. over rolling five-year periods. Furthermore, the Fund aims to achieve these returns with volatility that is a fraction of the Australian equity market, in order to smooth returns for investors.
Manager Comments	The NWQ Fiduciary Fund rose +1.93% in December, taking 12-month performance to +6.42% with a volatility of 10.01% vs the ASX200 Accumulation Index's return of +1.40% with a volatility of 27.24%. Since inception in May 2013, the Fund has returned +5.81% p.a. with an annualised volatility of 5.74%. By contrast, the Index has returned +7.57% p.a. with an annualised volatility of 14.04% over the same period. The Fund's capacity to protect investors' capital in falling and volatile markets is highlighted by the following statistics (since inception): Sortino ratio of 1.09 vs the Index's 0.55, maximum drawdown of -8.77% vs the Index's -26.75%, and down-capture ratio of 13.25%. NWQ noted current equity valuations are high and approaching the unprecedented and short-lived levels at the zenith of the Dot-Com era, supported by record low interest rates, ample central bank liquidity and buoyant customer sentiment. They believe that it's in this environment that it pays to be hedged given the market's susceptibility to sharp reversals. NWQ expect 2021 will present a favourable environment for hedged equity investors with return dispersion between stocks to remain elevated. They added that the pandemic has created both long and short opportunities for the Fund's underlying managers.
More Information	View Fund's Profile View Manager's Report

Fund Review: Insync Global Capital Aware Fund December 2020

28 Jan 2021 - Australian Fund Monitors

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...

Fund Review: Bennelong Twenty20 Australian Equities Fund December 2020

28 Jan 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.

Webinar| Laureola Review: Q4 2020

27 Jan 2021 - Laureola Advisors

Please join us for our quarterly webinar. The webinar will give a short intro to Laureola, followed by a dive into performance and key drivers. Tony (our MD) will also cover our market outlook going forward. It should be informative to...

Performance Report: Glenmore Australian Equities Fund

27 Jan 2021 - Australian Fund Monitors

The Glenmore Australian Equities Fund rose +3.96% in December, outperforming the ASX200 Accumulation Index by +2.9% and taking 12-month performance to +13.43% vs the Index's +1.40%. Since inception in June 2017, the Fund has returned...

27 Jan 2021 - Performance Report: Glenmore Australian Equities Fund

By: Australian Fund Monitors

Report Date	27 January 2021
Manager	Glenmore Asset Management Pty Ltd
Fund Name	Glenmore Australian Equities Fund
Strategy	Equity Long
Latest Return Date	December 2020
Latest Return	3.96%
Latest 6 Months	32.63%
Latest 12 Months	13.43%
Latest 24 Months (pa)	26.15%
Annualised Since Inception	22.44%
Inception Date	06 June 2017
FUM (millions)	AU$11.8
Fund Overview	The Fund is index unaware with an absolute return focus. The Fund seeks to invest in companies generating strong cashflows at attractive valuations. In absence of attractive investments being identified, the fund will hold cash. Glenmore will use a fundamental, research driven investment process to identify undervalued securities. The main driver of identifying potential investments will be bottom up company analysis, however macro-economic conditions will be considered as part of the investment thesis for each stock.
Manager Comments	The Glenmore Australian Equities Fund rose +3.96% in December, outperforming the ASX200 Accumulation Index by +2.9% and taking 12-month performance to +13.43% vs the Index's +1.40%. Since inception in June 2017, the Fund has returned +22.44% p.a. vs the Index's +8.05%. The Fund's up-capture ratio (since inception) of 211.26% indicates that, on average, the Fund has returned more than double the market's return during the market's positive months. The Fund has achieved up-capture ratios of over 170% over the past 12, 24 and 36 months. The Fund's Sharpe and Sortino ratios (since inception), 0.95 and 1.12 respectively, vs the Index's Sharpe of 0.50 and Sortino of 0.53, highlight its capacity to achieve superior risk-adjusted returns while avoiding the market's downside volatility. Key positive contributors in December included Whitehaven Coal, Mineral Resources, Alliance Aviation Services, ARB Corporation, NRW Holdings and Coronado Global Resources. Notable detractors included Worley and Magellan Financial Group.
More Information	View Fund's Profile View Manager's Report

Performance Report: Collins St Value Fund

27 Jan 2021 - Australian Fund Monitors

The Collins St Value Fund rose +10.30% in December, outperforming the ASX200 Accumulation Index by +9.24% and taking CY20 performance to +32.34% vs the Index's +1.40%. Since inception in February 2016, the Fund has returned +17.29% p.a. vs...

27 Jan 2021 - Performance Report: Collins St Value Fund

By: Australian Fund Monitors

Report Date	27 January 2021
Manager	Collins St Asset Management
Fund Name	Collins St Value Fund
Strategy	Equity Long
Latest Return Date	December 2020
Latest Return	10.30%
Latest 6 Months	39.01%
Latest 12 Months	32.34%
Latest 24 Months (pa)	28.94%
Annualised Since Inception	17.29%
Inception Date	05 February 2016
FUM (millions)	AU$96.8
Fund Overview	The Collins Street Value Fund is an index unaware fund which seeks to create strong investment returns over the medium and long term with capital preservation a priority. The managers of the fund intend to maintain a concentrated portfolio of investments in ASX listed companies that they have investigated and consider to be undervalued. They will assess the attractiveness of potential investments using a number of common industry based measures, a proprietary in-house model and by speaking with management, industry experts and competitors. Once the managers form a view that an investment offers sufficient upside potential relative to the downside risk, the fund will seek to make an investment. If no appropriate investment can be identified the managers are prepared to hold cash and wait for the right opportunities to present themselves.
Manager Comments	The Collins St Value Fund rose +10.30% in December, outperforming the ASX200 Accumulation Index by +9.24% and taking CY20 performance to +32.34% vs the Index's +1.40%. Since inception in February 2016, the Fund has returned +17.29% p.a. vs the Index's +10.14%. Despite the Fund's returns having been more volatile than the market's, the Fund's Sortino ratio (since inception) of 1.21 vs the Index's 0.77 and down-capture ratio (since inception) of 38.29% highlight its capacity to outperform during falling and volatile markets. The Fund has maintained down-capture ratios of less than 100% over the past 12, 24, 36 and 48 months. Key drivers throughout the year included Paladin Energy, National Tyre & Wheel, Boom Logistics and Coronado. Collins St are very happy with the Fund's performance throughout CY20, however, they emphasise that they don't anticipate returns of this sort regularly and that their foremost concern is capital preservation. They noted they endeavour to worry less about the macro environment, market movements and share price momentum, and focus instead on the merits of the businesses they look at. In their latest report, they discuss in details how a person's psyche plays a part in their investment decisions and identify tools they believe will assist investors to make decision based more on reason than emotion.
More Information	View Fund's Profile View Manager's Report

Fund Review: Bennelong Kardinia Absolute Return Fund December 2020

27 Jan 2021 - Australian Fund Monitors

The latest Fund Review for the Bennelong Kardinia Absolute Return Fund is now available. The Fund, which has been in operation for more than 10 years, has a long-biased, research driven, active equity long/short strategy and invests in...

Performance Report: Bennelong Australian Equities Fund

25 Jan 2021 - Australian Fund Monitors

The Bennelong Australian Equities Fund rose +2.04% in December, taking CY20 performance to +23.15% vs the ASX200 Accumulation Index's +1.40%. Since inception in February 2009, the Fund has returned +14.58% p.a. vs the Index's +9.99%.

25 Jan 2021 - Performance Report: Bennelong Australian Equities Fund

By: Australian Fund Monitors

Report Date	25 January 2021
Manager	Bennelong Australian Equity Partners (BAEP), a Bennelong boutique
Fund Name	Bennelong Australian Equities Fund
Strategy	Equity Long
Latest Return Date	December 2020
Latest Return	2.04%
Latest 6 Months	26.18%
Latest 12 Months	23.15%
Latest 24 Months (pa)	25.28%
Annualised Since Inception	14.58%
Inception Date	30 January 2009
FUM (millions)	AU$673.4
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 Bennelong Australian Equities Fund seeks quality investment opportunities which are under-appreciated and have the potential to deliver positive earnings. The investment process combines bottom-up fundamental analysis with proprietary investment tools that are used to build and maintain high quality portfolios that are risk aware. The investment team manages an extensive company/industry contact program which helps identify and verify various investment opportunities. The companies within the portfolio are primarily selected from, but not limited to, the S&P/ASX 300 Index. The Fund may invest in securities listed on other exchanges where such securities relate to the ASX-listed securities. The Fund typically holds between 25-60 stocks with a maximum net targeted position of an individual stock of 6%.
Manager Comments	The Bennelong Australian Equities Fund rose +2.04% in December, taking CY20 performance to +23.15% vs the ASX200 Accumulation Index's +1.40%. Since inception in February 2009, the Fund has returned +14.58% p.a. vs the Index's +9.99%. The Fund's Sharpe and Sortino ratios (since inception), 0.84 and 1.17 respectively, by contrast with the Index's Sharpe of 0.59 and Sortino of 0.73, highlight its capacity to achieve superior risk-adjusted returns while avoiding the market's downside volatility. The Fund's up-capture ratio (since inception) of 140.54% indicates that, on average, the Fund has significantly outperformed during the market's positive months. As at the end of December, the portfolio's weightings had been increased in the IT, Communication, Industrials, Materials and Financials sectors, and decreased in the Discretionary, Health Care and REIT's sectors. Relative to the ASX300 Index, the portfolio was significantly overweight the Discretionary sector (Fund weight: 42.6%, Benchmark weight: 7.7%) and underweight the Financials sector (Fund weight: -18.6%, Benchmark weight: 27.1%).
More Information	View Fund's Profile View Manager's Report

Webinar| Aitken Investment Management

22 Jan 2021 - Aitken Investment Management

The AIM team invites you to our next quarterly Webinar, to be hosted by Charlie Aitken (CIO) & Etienne Vlok (PM). The presentation will briefly cover CY2020 performance, discuss how were are thinking about the year ahead, and...

22 Jan 2021 - Webinar| Aitken Investment Management

By: Aitken Investment Management

Tue, Feb 9, 2021 12:30 PM in AEST

Register for Webinar

The AIM team invites you to our next quarterly Webinar, to be hosted by Charlie Aitken (CIO) & Etienne Vlok (PM).

The presentation will briefly cover CY2020 performance, discuss how were are thinking about the year ahead, and also provide an update on the performance of portfolio holdings following the US quarterly reporting season.

Plenty of time will also be allocated to Q&A.

Time: 12:30 PM AEST

Date: Tuesday the 9th of February, 2021

Register here: https://zoom.us/webinar/register/WN_lvFuhLMcSyW-MDJt26roeQ

We look forward to speaking with you.

ABOUT AIM

AIM was founded in 2015 as an independent investment manager. The firm is structured to manage client investments. Activities not related to delivering this outcome are outsourced to asset management service providers to enable AIM to focus on conducting investment research, managing the portfolio, and engaging with investors.

AIM is owned by its directors. They are not incentivised by any third party to sell or recommend any product or service beyond the capital they manage for their investors. In addition to business ownership, all directors are also invested in the AIM Global High Conviction Fund; the same goes for members of the staff.

AIM view a significant ownership interest in the Fund as a key component to create alignment between themselves and their investors.

AIM believe in their process and portfolio of businesses, and do not try and do better than their clients by investing in businesses they would not own on an investor's behalf. Equally, AIM would not own a business in the Fund that they would not own in their personal capacity. AIM are 100% aligned with their investors.

Register for Webinar

AIM Global High Conviction Fund

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28 Jan 2021 - Performance Report: Laureola Investment Fund

28 Jan 2021 - Performance Report: NWQ Fiduciary Fund

28 Jan 2021 - Fund Review: Insync Global Capital Aware Fund December 2020

28 Jan 2021 - Fund Review: Bennelong Twenty20 Australian Equities Fund December 2020

27 Jan 2021 - Webinar| Laureola Review: Q4 2020

27 Jan 2021 - Performance Report: Glenmore Australian Equities Fund

27 Jan 2021 - Performance Report: Collins St Value Fund

27 Jan 2021 - Fund Review: Bennelong Kardinia Absolute Return Fund December 2020

25 Jan 2021 - Performance Report: Bennelong Australian Equities Fund

22 Jan 2021 - Webinar| Aitken Investment Management

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