14 Sep 2018 - Performance Report: Glenmore Australian Equities Fund

The Glenmore Australian Equities Fund rose +5.94% in August, outperforming the ASX200 Accumulation Index by +4.52%. Since inception in June 2017, the Fund has returned +38.85% p.a. versus the Index's +12.93%. Adjusting for risk, the Fund's Sharpe ratio for performance since inception is 3.67 versus the Index's 1.69, highlighting the Fund's capacity to achieve significantly superior risk-adjusted returns than the market. Looking at the downside, the Fund's Sortino ratio of 12.02 versus the Index's 1.34, along with the Fund's down-capture ratio since inception of -123.45%, emphasise the Fund's focus on avoiding downside losses (a negative down-capture ratio indicates that the Fund, on average, has achieved positive performance in the market's negative months).

Top contributors in August included Jumbo Interactive (+64.2%), Appen (+41.2%), Bravura Solutions (+30.6%), NRW Holdings (+23.9%), Pinnacle Investments (+19.8%), Alliance Aviation (+19.1%), Fiducian Group (+18.8%), Worley Parsons (+12.6%) and Atlas Arteria (+5.2%). The only notable detractor was Axsesstoday (-19.9%), however, the Fund exited AXL during the month and so didn't incur the full extent of the -19.9% decline.

Read the latest report for Glenmore's commentary on some of the Fund's best performing stocks in August.