Acadian Wholesale Australian Equity (FSF0787AU) Report & Performance

What is the Acadian Wholesale Australian Equity fund?

The Acadian Wholesale Australian Equity Fund (the Fund) uses quantitative modelling and fundamental insights to unearth undervalued stocks and deliver compelling returns for investors. The investment approach is both multi-faceted and highly adaptable, which allows Acadian to take advantage of attractive stocks opportunities as they arise. Acadian casts a wide net to discover mis-priced stocks, analysing more than 1,000 stocks daily to find the most attractive investment opportunities for inclusion in the portfolio.

  • Invest in a fund that uses systematic expertise to unearth undervalued stocks and deliver compelling long-term returns.
  • Analyses more than 1,000 stocks daily to uncover opportunities and find hidden value.
  • Systematic, bottom-up analysis converts insights into risk return forecast.
  • Aims to outperform the S&P/ASX 300 Accumulation Index over rolling four-year periods before fees and taxes.

Growth of $1000 Investment Over Time

Performance Report

Peer Comparison Report

Peer Comparison Report

Latest News & Updates For Acadian Wholesale Australian Equity

Acadian Wholesale Australian Equity Fund Commentary June 30, 2023

The Portfolio returned -0.22%, 13.41%, 6.96% and 9.04% net of fees for the quarterly, 1-,5-, and 10-year periods, versus returns of 0.99%, 14.40%, 7.11% and 8.54% for the S&P/ASX 300 Accumulation Index. Stock selection detracted from returns, while sector allocations were positive.

Key sources of negative active return included a combination of stock selection and an overweight position in materials, stock selection in energy, and a combination of stock selection and an underweight position in real estate. Leading declines within these sectors respectively included a position in South32, a holding in Santos, and an investment in Goodman Group. Contributors included stock selection in consumer discretionary, an overweight position in information technology, and stock selection in health care. Leading advances within these sectors in turn included a lack of exposure to IDP Education, a holding in WiseTech Global, and an investment in Ramsay Health Care.*

Key Holdings

Positive
Our overweight to McMillan Shakespeare Ltd, a provider of automotive salary packaging, leasing services, fleet and asset management and financing services, was rewarded with 15 basis points of active return as share prices gained 25% over the quarter. The company has been benefiting from steady growth in novated lease orders and sales, salary packages under management, as well as the number of Plan and Support Services customers.

Negative
Our overweight to South32 Ltd, a diversified metals and mining company, cost the portfolio 11 basis points of active return as share prices slumped 11.7% in the period. The company continues to be impacted by high interest rates, sticky inflation, and growing concerns of a global recession.

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.
Acadian Wholesale Australian EquityFSF0787AUManaged FundsDomestic EquityAustralia Large Blend - Broad Cap - PassiveDomestic Equity - Large Cap Passive IndexASX Index 200 Index135.74 M0.81%0.00%0.24%

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.
Acadian Wholesale Australian Equity1.42%2.39%15.8%7.21%6.72%10.91%13.4%14.9%-7.38%-12.19%-53.83%

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.
Acadian Wholesale Australian EquityDomestic Equity - Large Cap Passive Index1.67%-0.35%NA%NA%NA%0.991.08%2.71%10.98

Product Details

Fund Name Verifed by SMSF Mates Manager Address Phone Website Email
Acadian Wholesale Australian EquityYesTower 1, Ground Floor, 201 Sussex St,Sydney, NSW, 2000+61 2 93782000https://www.cfs.com.au/-

Product Due Diligence

What is Acadian Wholesale Australian Equity

Acadian Wholesale Australian Equity is an Managed Funds investment product that is benchmarked against ASX Index 200 Index and sits inside the Domestic Equity - Large Cap Passive 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 Acadian Wholesale Australian Equity has Assets Under Management of 135.74 M with a management fee of 0.81%, a performance fee of 0.00% and a buy/sell spread fee of 0.24%.

How has the investment product performed recently?

The recent investment performance of the investment product shows that the Acadian Wholesale Australian Equity has returned 1.42% in the last month. The previous three years have returned 7.21% annualised and 14.9% each year since inception, which is when the Acadian Wholesale Australian Equity 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 Acadian Wholesale Australian Equity first started, the Sharpe ratio is NA with an annualised volatility of 14.9%. The maximum drawdown of the investment product in the last 12 months is -7.38% and -53.83% 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 Acadian Wholesale Australian Equity has a 12-month excess return when compared to the Domestic Equity - Large Cap Passive Index of 1.67% and -0.35% 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. Acadian Wholesale Australian Equity has produced Alpha over the Domestic Equity - Large Cap Passive Index of NA% in the last 12 months and NA% since inception.

What are similar investment products?

For a full list of investment products in the Domestic Equity - Large Cap Passive Index category, you can click here for the Peer Investment Report.

What level of diversification will Acadian Wholesale Australian Equity provide?

Acadian Wholesale Australian Equity has a correlation coefficient of 0.98 and a beta of 0.99 when compared to the Domestic Equity - Large Cap Passive 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 Acadian Wholesale Australian Equity and its peer investments, you can click here for the Peer Investment Report.

How do I compare the Acadian Wholesale Australian Equity with the ASX Index 200 Index?

For a full quantitative report on Acadian Wholesale Australian Equity compared to the ASX Index 200 Index, you can click here.

Can I sort and compare the Acadian Wholesale Australian Equity to do my own analysis?

To sort and compare the Acadian Wholesale Australian Equity financial metrics, please refer to the table above.

Has the Acadian Wholesale Australian Equity 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 Acadian Wholesale Australian Equity?

If you or your self managed super fund would like to invest in the Acadian Wholesale Australian Equity please contact Tower 1, Ground Floor, 201 Sussex St,Sydney, NSW, 2000 via phone +61 2 93782000 or via email -.

How do I get in contact with the Acadian Wholesale Australian Equity?

If you would like to get in contact with the Acadian Wholesale Australian Equity manager, please call +61 2 93782000.

Comments from SMSF Mates

SMSF Mate does not receive commissions or kickbacks from the Acadian Wholesale Australian Equity. 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, 2023

The Portfolio returned 2.98%, -0.19%, 8.83% and 8.49% net of fees for the quarterly, 1-,5-, and 10-year periods, versus returns of 3.33%, -0.60%, 8.63% and 8.12% for the S&P/ASX 300 Accumulation Index. Sector allocations were positive while stock selection detracted from returns.

The main drivers of negative returns included a combination of stock selection and an underweight position in consumer staples, stock selection in energy, and stock selection in information technology. Leading declines within these sectors respectively included a position in Woolworths Group, a holding in Whitehaven Coal, and a lack of exposure to Xero. Contributors included a combination of stock selection and an overweight position in health care, a combination of stock selection and an overweight position in industrials, and an underweight position in real estate. Leading advances within these sectors included a position in Cochlear, a holding in Brambles, and an investment in Mirvac Group.

Key Holdings

Positive
Our overweight to Aristocrat Leisure Ltd, a gaming content and technology company, was rewarded with 16 basis points of active returns as share prices gained 22.4% over the quarter. The company expects to benefit from continued strong revenue and profit growth in the first quarter, on the back of a market-leading position and recurring revenue drivers.

Negative
Our overweight to Whitehaven Coal Ltd, a developer and operator of coal mines in New South Wales and Queensland, cost the portfolio 18 basis points of active return as share prices slumped 21.8% in the period. The company continues to be impacted by severe labour shortages which is likely to impact its production output.

Performance Commentary - December 31, 2022

The Portfolio returned 9.13%, -0.66%, 7.54% and 8.98% net of fees for the quarterly, 1-,5-, and 10-year periods, versus returns of 9.13%, -1.80%, 7.09% and 8.61% for the S&P/ASX 300 Accumulation Index. Stock selection contributed to returns, while sector allocations were negative.

Key sources of positive active returns included a combination of stock selection and an underweight position in consumer staples, stock selection in industrials, and stock selection in utilities. Leading advances within these sectors respectively included a position in Woolworths Group, a holding in ALS, and an investment in Origin Energy.

Detractors included a combination of stock selection and an underweight position in financials and a combination of stock selection and an overweight position in health care. Leading declines within these sectors in turn included a position in Medibank Pvt and a holding in Sonic Healthcare.*

Performance Commentary - September 30, 2022

The portfolio returned 1.2%1 for the quarter (gross of fees) versus a 0.5% return for the S&P/ASX 300 Accumulation Index. Stock selection contributed to returns and sector allocations were positive.

Key sources of positive active return included stock selection in energy, a combination of stock selection and an underweight position in real estate, and a combination of stock selection and an overweight position in information technology. Leading advances within these sectors respectively included a position in Whitehaven Coal, a holding in Goodman Group, and an investment in WiseTech Global. Detractors included stock selection in materials, stock selection in consumer staples, and stock selection in financials. Leading declines within these sectors in turn included a lack of exposure to OZ Minerals, a holding in GrainCorp, and an investment in Bendigo & Adelaide Bank.*

Performance Commentary - June 30, 2022

The portfolio returned -12%1 for the quarter (gross of fees) versus a -12.2% return for the S&P/ASX 300 Accumulation Index. Stock selection contributed to return, while sector allocations were muted.

Key sources of positive active return included a combination of stock selection and an overweight position in energy, stock selection in information technology, and stock selection in financials. Leading advances within these sectors respectively included a position in Viva Energy Group, a holding in Block, and an investment in Medibank Pvt. Detractors included stock selection in industrials, stock selection in consumer discretionary, and an underweight position in consumer staples. Leading declines within these sectors in turn included a lack of exposure to Atlas Arteria, a holding in Harvey Norman Holdings, and an investment in Coles Group.

Performance Commentary - March 31, 2022

The portfolio returned 2.7%1 for the quarter (gross of fees) versus a 2.1% return for the S&P/ASX 300 Accumulation Index. Gains realised from sector allocations were joined with positive payoffs from stock selection. Key sources of positive active return included a combination of stock selection and an overweight position in energy, stock selection in financials, and a combination of stock selection and an underweight position in communication services. Leading advances within these sectors respectively included a position in Whitehaven Coal, a holding in ASX, and a lack of exposure to REA Group. Detractors included stock selection in real estate, a combination of stock selection and an overweight position in health care, and an overweight position in information technology. Leading declines within these sectors in turn included a position in Charter Hall Group, a holding in Sonic Healthcare, and an investment in Technology One

Performance Commentary - December 31, 2021

The portfolio returned 2.5%1 for the quarter (gross of fees) versus a 2.2% return for the S&P/ASX 300 Accumulation Index. Gains realised from stock selection were joined with positive payoffs from country allocations.

Key sources of positive active return included a combination of stock selection and an underweight position in financials, a combination of stock selection and an underweight position in consumer staples, and stock selection in real estate. Leading advances within these sectors respectively included a position in Westpac Banking, a holding in GrainCorp, and an investment in Charter Hall Group. Detractors included stock selection in industrials, a combination of stock selection and an overweight position in energy, and stock selection in materials. Leading declines within these sectors in turn included a position in McMillan Shakespeare, a holding in Whitehaven Coal, and an investment in Fortescue Metals Group.*

Performance Commentary - June 30, 2021

The portfolio returned 9.0% for the quarter (gross of fees) versus an 8.5% return for the S&P/ASX 300 Accumulation Index. Gains realised from stock selection were joined with positive payoffs from country allocations. Key sources of positive active return included a combination of stock selection and an overweight position in materials, stock selection and an underweight position in utilities, and stock selection and an underweight position in industrials. Leading advances within these sectors respectively included a position in Mineral Resources, a holding in APA Group, and an investment in Sydney Airport. Detractors included stock selection in consumer staples and communication services as well as an overweight position in information technology. Leading declines within these sectors in turn included a position in Costa Group Holdings, a holding in News, and an investment in Technology One.*

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