15 Jul 2019 - Performance Report: Glenmore Australian Equities Fund

By: Australian Fund Monitors

Report Date	15 July 2019
Manager	Glenmore Asset Management Pty Ltd
Fund Name	Glenmore Australian Equities Fund
Strategy	Equity Long
Latest Return Date	June 2019
Latest Return	5.21%
Latest 6 Months	33.70%
Latest 12 Months	23.61%
Latest 24 Months (pa)	30.89%
Annualised Since Inception	30.29%
Inception Date	06 June 2017
FUM (millions)	AU$6.5
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 +5.21% in June, outperforming the ASX200 Accumulation Index by +1.51% and taking annualised performance since inception in June 2017 to +30.29% versus the Index's +11.85%. The Fund's Sharpe and Sortino ratios, 1.98 and 3.59 respectively, by contrast with the Index's Sharpe of 1.15 and Sortino of 1.80, highlight the Fund's capacity to achieve superior risk-adjusted returns whilst avoiding the market's downside volatility. Top contributors in June included Polynovo, People Infrastructure, Magellan Financial Group, Phoslock, Auckland International Airport and Jumbo Interactive. Detractors included Pinnacle Investment, Bravura Solutions and NRW Holdings.
More Information	Fund Profile Manager's Report

Fund Monitors Pty Ltd

15 Jul 2019 - Performance Report: Glenmore Australian Equities Fund