1980s Lifestage Fund — A (BTA0456AU) Report & Performance

What is the 1980s Lifestage Fund — A fund?

1980s Lifestage Fund — A aims to provide returns (after fees) equivalent to CPI plus 5.2% p.a. over a 10 year period. It is an actively managed fund, investing in a diversified portfolio of assets. The Fund is invested using the ‘multi-manager’ concept – packaging together high-quality investment managers from Australia and around the globe into a single fund.

Growth of $1000 Investment Over Time

Performance Report

Peer Comparison Report

Peer Comparison Report

Latest News & Updates For 1980s Lifestage Fund — A

1980s Lifestage Fund — A Fund Commentary March 31, 2022

The 1980’s Lifestage Fund produced a negative return over the March quarter, the 12-month rolling performance remained positive. Both equities and bond markets experienced significant volatility over the quarter. The US Federal Reserve turned increasingly hawkish and started hiking interest rates by 25bps in March. The market expects more aggressive rate hikes into the year, and balance sheet reduction or ‘quantitative tightening’ as a result of inflationary pressures and tight labour markets. Sentiment was further exacerbated following the ramifications of Russia’s invasion of Ukraine.

Strong commodity prices provided a tailwind to domestic equities and the Australian Dollar. The domestic equity market, as represented by the S&P/ASX 300 Accumulation Index, returned 2.1%. International Equities, as measured by the MSCI World ex Australia Net Return Index, returned -5.0% on AUD hedged basis and -8.4% on unhedged basis. Emerging market equities underperformed with the MSCI Emerging Markets Net Total Return Index returning -9.9% over the quarter, led by the continuing poor sentiment towards China following growing concerns about forced delisting of the US-listed Chinese companies and the new surge of COVID cases and restrictions across multiple regions in China. Domestic listed property as measured by the S&P/ASX 300 A-REIT Index returned -6.7% and global listed property as measured by the FTSE EPRA/NAREIT Developed AUD Hedged Net Total Return Index, returned -3.5% over the quarter.

Bond markets experienced some of the worst drawdowns over the past 30 years, driven by monetary tightening and higher inflation expectations. The US 10-year treasury yield moved 83bps higher to 2.34%, and the Australian 10-year government bond yield moved 117bps higher to 2.84% over the quarter. Credit spreads also widened as market volatility surged. As a result, domestic fixed interest, as measured by the Bloomberg Ausbond Composite 0+ Yr Index, returned -5.9%. International fixed interest markets, as measured by the Bloomberg Barclays Global-Aggregate Total Return AUD Hedged index, returned -5.0%.

Over the quarter both growth and defensive oriented portfolios had negative results.

READ HISTORICAL PERFORMANCE COMMENTARIES

Product Snapshot

  • Product Overview
  • Performance Review
  • Peer Comparison
  • Product Details

Product Overview

Fund Name APIR Code
? A Product Code is unique a identifier code issued by a group or governing body, to reference products in a large group. For an example, APIR codes are commonly used for Funds and Ticker codes are commonly used for Securities such as ETFs and Stocks.
Structure
?
Asset Class
? An Asset Class breakdown provides the percentages of core asset classes found within a mutual fund, exchange-traded fund, or another portfolio. Asset classes (in microeconomics and beyond) generally refer to broad categories such as equities, fixed income, and commodities.
Asset Category
? An Asset Category is a grouping of investments that exhibit similar characteristics and are subject to the same laws and regulations. Asset categories (or a sub-asset class) are made up of instruments which often behave similarly to one another in the marketplace, looking down to the Asset Category level is important if looking to build a diversified portfolio.
Peer Benchmark Name
? A Peer Index (benchmark) refers to a peer group of investment managers who have the same investment style or category. It is used to compare the performance of one manager to their peer group, which makes it simpler for investors to choose between the vast number of investment managers.
Broad Market Index
? A Market Index (benchmark) refers to a hypothetical portfolio of investments that represents a segment, asset or category of an investable market. Market Indices are used to benchmark managers performance, to assist their style reliability and ability to provide excess returns.
FUM
? Funds/Assets under management (AUM) is the total market value of the investments that a person or entity manages on behalf of clients. Assets under management definitions and formulas vary by company.
Management Fee
? A management fee is a charge levied by an investment manager for managing an investment fund. The management fee is intended to compensate the managers for their time and expertise for selecting finanical products and managing the portfolio.
Performance Fee
? A performance fee is a payment made to an investment manager for generating positive returns. This is as opposed to a management fee, which is charged without regard to returns. A performance fee can be calculated many ways. Most common is as a percentage of investment profits, often both realized and unrealized. It is largely a feature of the hedge fund industry, where performance fees have made many hedge fund managers among the wealthiest people in the world.
Spread
? A spread can have several meanings in finance. Basically, however, they all refer to the difference between two prices, rates or yields. In one of the most common definitions, the spread is the gap between the bid and the ask prices of a security or asset, like a stock, bond or commodity. This is known as a bid-ask spread.
1980s Lifestage Fund — ABTA0456AUManaged FundsMulti-Asset81-100% Growth Assets - Multi-ManagerMulti-Asset - 81-100% Multi-Manager IndexMulti-Asset Aggressive Investor Index0.00 M0.5%0.00%0.33%

Performance Review

Fund Name Last Month
? Returns after fees in the most recent (last) month).
3 Months Return
? Returns after fees in the most recent 3 months.
1 Year Return
? Trailing 12 month returns.
3 Years Average Return
? Average Annual returns from the last 3 years.
Since Inc. Average Return
? Average (annualised) returns since inception
1 Year Std. Dev. (Annual)
? The standard deviation (or annual volatility) of the last 12 months.
3 Years Std. Dev. (Annual)
? The average standard deviation (or annual volatility) from the last 3 years.
Since Inc. Std. Dev. (Annual)
? The average standard deviation (or annual volatility) since the fund inception.
1 Year Max Drawdown
? The maximum drawdown in the last 12 months - a drawdown is a peak-to-trough decline during a specific period for an investment, trading account, or fund.
3 Year Max Drawdown
? The maximum drawdown in the last 36 months - a drawdown is a peak-to-trough decline during a specific period for an investment, trading account, or fund.
Since Inc. Max Drawdown
? The maximum drawdown since inception - a drawdown is a peak-to-trough decline during a specific period for an investment, trading account, or fund.
1980s Lifestage Fund — A3.87%6.12%13.84%6.74%7.62%8.8%10.43%10.15%-5.38%-15.32%-19.89%

Peer Comparison

Fund Name Peer Index Name
? A group of individuals who share similar characteristics and interests are called peer groups. Peer group analysis is an essential part of assessing a price for a particular stock in investment research. The emphasis here is on making a comparison, meaning that the peer group constituents should be more or less identical to the company being examined, especially in terms of their main business and market capitalization areas.
12 Months Excess Return
? Excess returns are an important metric that helps an investor to gauge performance in comparison to other investment alternatives. In general, all investors hope for positive excess return because it provides an investor with more money than they could have achieved by investing elsewhere.
Excess Return Annualised Since Inception
? Excess returns are an important metric that helps an investor to gauge performance in comparison to other investment alternatives. In general, all investors hope for positive excess return because it provides an investor with more money than they could have achieved by investing elsewhere.
12 Months Alpha
? Alpha is used in finance as a measure of performance, indicating when a strategy, trader, or portfolio manager has managed to beat the market return over 12 months. Alpha, often considered the active return on an investment, gauges the performance of an investment against a market index or benchmark that is considered to represent the market’s movement as a whole.
Alpha Annualised Since Inception
? Alpha is used in finance as a measure of performance, indicating when a strategy, trader, or portfolio manager has managed to beat the market annualized since inception. Alpha, often considered the active return on an investment, gauges the performance of an investment against a market index or benchmark that is considered to represent the market’s movement as a whole.
12 Months Beta
? Rolling 12Month Beta is a measure of the volatility—or systematic risk—of a security or portfolio compared to the market as a whole. Beta is used in the capital asset pricing model (CAPM), which describes the relationship between systematic risk and expected return for assets (usually stocks).
Beta Annualised Since Inception
? Beta is a measure of the volatility—or systematic risk—of a security or portfolio compared to the market as a whole. Beta is used in the capital asset pricing model (CAPM), which describes the relationship between systematic risk and expected return for assets (usually stocks).
12 Months Tracking Error
? 12Month Tracking error is the difference in actual performance between a position (usually an entire portfolio) and its corresponding benchmark over the last 12 months. The tracking error can be viewed as an indicator of how actively a fund is managed and its corresponding risk level. Evaluating a past tracking error of a portfolio manager may provide insight into the level of benchmark risk control the manager may demonstrate in the future.
Tracking Error Since Inception
? Since Inception tracking error is the difference in actual performance between a position (usually an entire portfolio) and its corresponding benchmark since inception. The tracking error can be viewed as an indicator of how actively a fund is managed and its corresponding risk level. Evaluating a past tracking error of a portfolio manager may provide insight into the level of benchmark risk control the manager may demonstrate in the future.
12 Months Correlation
? Correlation, in the finance and investment industries, is a statistic that measures the degree to which two securities move in relation to each other. Correlations are used in advanced portfolio management, computed as the correlation coefficient, which has a value that must fall between -1.0 and +1.0.
Correlation Since Inception
? Correlation, in the finance and investment industries, is a statistic that measures the degree to which two securities move in relation to each other. Correlations are used in advanced portfolio management, computed as the correlation coefficient, which has a value that must fall between -1.0 and +1.0.
1980s Lifestage Fund — AMulti-Asset - 81-100% Multi-Manager Index0.37%-0.2%0.05%-0.03%-0.03%0.980.74%1.13%10.99

Product Details

Fund Name Verifed by SMSF Mates Manager Address Phone Website Email
1980s Lifestage Fund — AYes280 Kent Street Sydney, NSW 2000 Australia61-2-9259-3560https://www.bt.com.au/-

Product Due Diligence

What is 1980s Lifestage Fund — A

1980s Lifestage Fund — A is an Managed Funds investment product that is benchmarked against Multi-Asset Aggressive Investor Index and sits inside the Multi-Asset - 81-100% Multi-Manager Index. Think of a benchmark as a standard where investment performance can be measured. Typically, market indices like the ASX200 and market-segment stock indexes are used for this purpose. The 1980s Lifestage Fund — A has Assets Under Management of 0.00 M with a management fee of 0.5%, a performance fee of 0.00% and a buy/sell spread fee of 0.33%.

How has the investment product performed recently?

The recent investment performance of the investment product shows that the 1980s Lifestage Fund — A has returned 3.87% in the last month. The previous three years have returned 6.74% annualised and 10.15% each year since inception, which is when the 1980s Lifestage Fund — A first started.

How is risk measured in this investment product?

There are many ways that the risk of an investment product can be measured, and each measurement provides a different insight into the risk present. They can be used on their own or together to perform a risk assessment before investing, but when comparing investments, it is common to compare like for like risk measurements to determine which investment holds the most risk. Since 1980s Lifestage Fund — A first started, the Sharpe ratio is 0.62 with an annualised volatility of 10.15%. The maximum drawdown of the investment product in the last 12 months is -5.38% and -19.89% since inception. The maximum drawdown is defined as the high-to-low decline of an investment during a particular time period.

What is the relative performance of the investment product?

Relative performance is what an asset achieves over a period of time compared to similar investments or its peers. Relative return is a measure of the asset's performance compared to the return to the other investment. The 1980s Lifestage Fund — A has a 12-month excess return when compared to the Multi-Asset - 81-100% Multi-Manager Index of 0.37% and -0.2% since inception.

Does the investment product produce Alpha over its Peers?

Alpha is an investing term used to measure an investment's outperformance relative to a market benchmark or peer investment. Alpha describes the excess return generated when compared to peer investment. 1980s Lifestage Fund — A has produced Alpha over the Multi-Asset - 81-100% Multi-Manager Index of 0.05% in the last 12 months and -0.03% since inception.

What are similar investment products?

For a full list of investment products in the Multi-Asset - 81-100% Multi-Manager Index category, you can click here for the Peer Investment Report.

What level of diversification will 1980s Lifestage Fund — A provide?

1980s Lifestage Fund — A has a correlation coefficient of 0.99 and a beta of 0.98 when compared to the Multi-Asset - 81-100% Multi-Manager Index. Correlation measures how similarly two investments move in relation to one another. This establishes a 'correlation coefficient', which has a value between -1.0 and +1.0. A 100% correlation between two investments means that the correlation coefficient is +1. Beta in investments measures how much the price moves relative to the broader market over a period of time. If the investment moves more than the broader market, it has a beta above 1.0. If it moves less than the broader market, then the beta is less than 1.0. Investments with a high beta tend to carry more risk but have the potential to deliver higher returns.

How do I compare the investment product with its peers?

For a full quantitative report on 1980s Lifestage Fund — A and its peer investments, you can click here for the Peer Investment Report.

How do I compare the 1980s Lifestage Fund — A with the Multi-Asset Aggressive Investor Index?

For a full quantitative report on 1980s Lifestage Fund — A compared to the Multi-Asset Aggressive Investor Index, you can click here.

Can I sort and compare the 1980s Lifestage Fund — A to do my own analysis?

To sort and compare the 1980s Lifestage Fund — A financial metrics, please refer to the table above.

Has the 1980s Lifestage Fund — A been independently verified by SMSF Mate?

This investment product is in the process of being independently verified by SMSF Mate. Once we have verified the investment product, you will be able to find more information here.

How can I invest in 1980s Lifestage Fund — A?

If you or your self managed super fund would like to invest in the 1980s Lifestage Fund — A please contact 280 Kent Street Sydney, NSW 2000 Australia via phone 61-2-9259-3560 or via email -.

How do I get in contact with the 1980s Lifestage Fund — A?

If you would like to get in contact with the 1980s Lifestage Fund — A manager, please call 61-2-9259-3560.

Comments from SMSF Mates

SMSF Mate does not receive commissions or kickbacks from the 1980s Lifestage Fund — A. All data and commentary for this fund is provided free of charge for our readers general information.

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Historical Performance Commentary

Performance Commentary - March 31, 2021

The domestic equity market, as represented by the S&P/ASX 300 Accumulation Index, returned 4.2%, Global developed equities, as measured by the MSCI World ex Australia Net Return AUD Hedged Index, returned 6.2% over the quarter. Unhedged International equities, as measured by the MSCI World ex Australia Net Return AUD Hedged Index returned 6.3% with the AUDUSD stabilising to circa 76cents.

Emerging markets in AUD terms returned 3.6%, as measured by the MSCI Emerging Markets AUD Index. The performance of domestic and international listed property sectors diverged over the quarter due to different speed in lifting Covid restrictions. The domestic listed property sector corrected some large gains from the December quarter and ended the March quarter with -0.6% return, as measured by the S&P/ASX 300 A-REIT Index. The global listed property sector returned 7.3% as measured by the FTSE EPRA/NAREIT Developed AUD Hedged Net Total Return Index.

Domestic yields, as measured by the Australian 10 year government bond yield rose 82bps to 1.79% over the quarter, and similarly the US 10 year treasury yields rose 83bps to 1.74%. As a result, Australian fixed interest, as measured by the Bloomberg Ausbond Composite 0+ Yr Index, returned -3.2%. International fixed interest markets, as measured by the Bloomberg Barclays Global-Aggregate Total Return AUD Hedged index returned -2.5%. Credit spreads were mostly stable over the quarter.

Performance Commentary - December 31, 2020

The 1980’s Lifestage Fund produced a positive return over the December quarter, resulting in positive 12 month performance. The December quarter started with investor optimism as markets climbed higher during early October. However, investor sentiment soured mid-month as uncertainty over the US election and climbing COVID-19 cases reversed much of the gains. The Nov 3 US election coupled with approvals for a series of vaccinations resulted in strong equity returns during November that persisted into December, despite being softened by further lockdowns and increasing case rates into the western holiday period. The domestic equity market, as represented by the S&P/ ASX 300 Accumulation Index, was the stand out performer over the quarter, returning 13.8%, thanks in part to the Australian response to the pandemic and the additional monetary stimulus the RBA has been able to deliver through rate cuts.

Global developed equities, as measured by the MSCI World ex Australia Net Return AUD Hedged Index, returned 11.7% over the quarter vs. a 5.7% increase in the unhedged index. The Australian Dollar appreciated against its developed market peers due to continuing global risk-on sentiment, ending the quarter buying 76.9c USD, up from 71.6c at the start of the quarter. Emerging markets measured by the MSCI Emerging Markets AUD Index returned 11.2%. The domestic and international listed property sectors returned strongly over the quarter. The domestic listed property sector returned 13.2% but global listed property lagged, returning 10.6%, as measured by the S&P/ASX 300 A-REIT Index and the FTSE EPRA/NAREIT Developed AUD Hedged Net Total Return Index respectively. Global bond yields reached record lows during the COVID-19 pandemic but increased during the December 2020 quarter. Domestic yields, as measured by the Australian 10 year government bond yield rose 18bps, leaving yields at 97bps, compared to 137bps 12 months prior. International yields followed a similar path, with US 10 year yields rising 23bps. A further tightening in credit spreads helped to offset some of the rise in yields, resulting in a -0.1% return for the Bloomberg Ausbond Composite 0+ Yr Index. International fixed interest markets, as measured by the Bloomberg Barclays Global-Aggregate Total Return AUD Hedged index returned 0.8%. Over the quarter funds with higher allocations to growth assets outperformed those with a higher allocation to defensive assets, due to equity markets outperforming fixed interest assets.

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