30 May 2019 - Performance Report: Bennelong Emerging Companies Fund

By: Australian Fund Monitors

Report Date	30 May 2019
Manager	Bennelong Australian Equity Partners (BAEP), a Bennelong boutique
Fund Name	Bennelong Emerging Companies Fund
Strategy	Equity Long
Latest Return Date	April 2019
Latest Return	14.03%
Latest 6 Months	21.42%
Latest 12 Months	22.21%
Latest 24 Months (pa)
Annualised Since Inception	28.47%
Inception Date	01 November 2017
FUM (millions)	AU$13.63
Fund Overview	The Fund invests in ASX-listed securities of small and micro capitalised companies that are covered by the investment research capabilities of Bennelong Australian Equity Partners ('BAEP'). The Fund may invest in securities expected to be listed on the ASX within 12 months. The Fund may also invest in securities listed, or expected to be listed, on other exchanged where such securities relate to ASX-listed securities
Manager Comments	The Bennelong Emerging Companies Fund rose +14.03% in April, outperforming the ASX200 Accumulation Index by +11.66% and taking 12-month performance to +22.21% versus the Index's +10.41%. Since inception in November 2017, the Fund has returned +28.47% p.a. versus the Index's +9.21%. This return has been achieved with significantly higher volatility than the market, however, this is expected of a fund investing in micro and small caps. The Fund's up-capture and down-capture ratios indicate that, on average, the Fund has captured significantly more of the market's upside than its downside. The Fund's top five holding as at the end of April were Jumbo Interactive, Zip Co, Pinnacle Investment Management, Nearmap and Emerchants. Bennelong believe micro and small-cap stocks can offer more exciting growth prospects than larger companies despite presenting greater investment risks. The investment team aim to be disciplined in focusing on high quality stocks and seek to avoid the higher risk propositions such as minerals explorers, speculative stocks, fads and unproven business models.
More Information	Fund Profile Manager's Report

Fund Monitors Pty Ltd

30 May 2019 - Performance Report: Bennelong Emerging Companies Fund