Ausbil Australian Emerging Leaders Performance Review | News

What is the Ausbil Australian Emerging Leaders fund?

Ausbil Australian Emerging Leaders Fund is an actively managed Australian equity fund managed against a composite benchmark (consisting of 70% S&P/ASX Mid Cap 50 Accumulation Index and 30% S&P/ASX Small Ordinaries Accumulation Index).

Invest in 30-40 quality mid to small cap Australian companies
Process favours companies with positive earnings and earnings revision profiles
Aims to provide investors with long-term capital growth with income
Exposure to quality industrial and resource shares
Managed by Ausbil’s skilled and multi-award-winning investment team
Access to mid to small cap securities that may not be researched by major broking houses

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Growth of $1000 Investment Over Time

Performance Report

Peer Comparison Report

Latest News & Updates For Ausbil Australian Emerging Leaders

Ausbil Australian Emerging Leaders Fund Commentary September 30, 2023

Fund performance for the quarter ending September 2023 was +1.31% (net of fees) versus the benchmark return of -1.75%. The benchmark is a composite, 70% of the S&P/ASX MidCap 50 Accumulation Index and 30% of the S&P/ ASX Small Ordinaries Accumulation Index.

Over the quarter, at a sector level, the overweight positions in the Energy, Financials, Information Technology and Utilities sectors contributed to relative performance. The underweight positions in the Health Care and Real Estate sectors also added value. Conversely, the overweight position in the Materials sector detracted from relative performance. The underweight positions in the Industrials, Consumer Discretionary, Consumer Staples and Communication Services sectors also detracted value.

At a stock level, the overweight positions in Boss Energy, Paladin Energy, AMP, Beach Energy, Life360, Worley, Incitec Pivot and Karoon Energy contributed to relative performance. The nil positions in Iluka Resources and Alumina also contributed to value. Conversely, the overweight positions in Block, Allkem, Aurizon Holdings, IGO, NIB Holdings, Fletcher Building and WiseTech Global detracted from relative performance. The nil positions in Carsales.com, Seven Group and Altium also detracted value.

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.
Ausbil Australian Emerging Leaders	AAP0104AU	Managed Funds	Domestic Equity	Australian Small Cap	Domestic Equity - Small Cap Index	ASX Index Small Ordinaries Index	772.12 M	0.85%	0.00%	0.5%

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.
Ausbil Australian Emerging Leaders	5.83%	0.84%	3.21%	6.88%	10.26%	13.5%	17.25%	17.41%	-9.86%	-19.78%	-48.45%

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.
Ausbil Australian Emerging Leaders	Domestic Equity - Small Cap Index	-7.41%	0.34%	-0.59%	0%	0%	0.95	6.27%	6.4%	0.9	0.93

Product Details

Fund Name	Verifed by SMSF Mates	Manager Address	Phone	Website	Email
Ausbil Australian Emerging Leaders	Yes	Grosvenor Place, Level 27, 225 George Street,Sydney NSW 2000	+61 02 9259 0200	https://www.ausbil.com.au/	contactus@ausbil.com.au

Product Due Diligence

What is Ausbil Australian Emerging Leaders

Ausbil Australian Emerging Leaders is an Managed Funds investment product that is benchmarked against ASX Index Small Ordinaries Index and sits inside the Domestic Equity - Small Cap 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 Ausbil Australian Emerging Leaders has Assets Under Management of 772.12 M with a management fee of 0.85%, a performance fee of 0.00% and a buy/sell spread fee of 0.5%.

How has the investment product performed recently?

The recent investment performance of the investment product shows that the Ausbil Australian Emerging Leaders has returned 5.83% in the last month. The previous three years have returned 6.88% annualised and 17.41% each year since inception, which is when the Ausbil Australian Emerging Leaders 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 Ausbil Australian Emerging Leaders first started, the Sharpe ratio is 0.46 with an annualised volatility of 17.41%. The maximum drawdown of the investment product in the last 12 months is -9.86% and -48.45% 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 Ausbil Australian Emerging Leaders has a 12-month excess return when compared to the Domestic Equity - Small Cap Index of -7.41% and 0.34% 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. Ausbil Australian Emerging Leaders has produced Alpha over the Domestic Equity - Small Cap Index of -0.59% in the last 12 months and 0% since inception.

What are similar investment products?

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

What level of diversification will Ausbil Australian Emerging Leaders provide?

Ausbil Australian Emerging Leaders has a correlation coefficient of 0.93 and a beta of 0.95 when compared to the Domestic Equity - Small Cap 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 Ausbil Australian Emerging Leaders and its peer investments, you can click here for the Peer Investment Report.

How do I compare the Ausbil Australian Emerging Leaders with the ASX Index Small Ordinaries Index?

For a full quantitative report on Ausbil Australian Emerging Leaders compared to the ASX Index Small Ordinaries Index, you can click here.

Can I sort and compare the Ausbil Australian Emerging Leaders to do my own analysis?

To sort and compare the Ausbil Australian Emerging Leaders financial metrics, please refer to the table above.

Has the Ausbil Australian Emerging Leaders 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 Ausbil Australian Emerging Leaders?

If you or your self managed super fund would like to invest in the Ausbil Australian Emerging Leaders please contact Grosvenor Place, Level 27, 225 George Street,Sydney NSW 2000 via phone +61 02 9259 0200 or via email contactus@ausbil.com.au.

How do I get in contact with the Ausbil Australian Emerging Leaders?

If you would like to get in contact with the Ausbil Australian Emerging Leaders manager, please call +61 02 9259 0200.

Comments from SMSF Mates

SMSF Mate does not receive commissions or kickbacks from the Ausbil Australian Emerging Leaders. 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 - August 31, 2023

Fund performance for August 2023 was +0.04% (net of fees) versus the benchmark return of -1.30%. The benchmark is a composite, 70% of the S&P/ASX MidCap 50 Accumulation Index and 30% of the S&P/ASX Small Ordinaries Accumulation Index.

At a sector level, the overweight position in the Energy sector added to relative performance. The underweight positions in the Consumer Staples, Health Care and Real Estate sectors also added value. Conversely, the overweight positions in the Materials, Financials, Information Technology and Utilities sectors detracted from performance. The underweight positions in the Industrials, Consumer Discretionary and Communication Services sectors also detracted value.

At a stock level, the overweight positions in AMP, Life360, Boss Energy, NextDC, Lynas Rare Earths, Paladin Energy and AUB Group contributed to relative performance. The nil positions in Alumina, Iluka Resources and Lendlease also added value. Conversely, the overweight positions in Webjet, Block, AGL Energy, WiseTech Global, Fletcher Building and Cleanaway Waste Management detracted from relative performance. The nil positions in Carsales.com, Altium, Domino’s Pizza and Seven Group also detracted value.

Performance Commentary - July 31, 2023

Fund performance for July 2023 was +3.92% (net of fees) versus the benchmark return of +4.16%. The benchmark is a composite, 70% of the S&P/ASX MidCap 50 Accumulation Index and 30% of the S&P/ASX Small Ordinaries Accumulation Index.

At a sector level, the overweight positions in the Energy, Financials, Information Technology and Utilities sectors added to relative performance. The underweight position in the Health Care sector also added value. Conversely, the overweight position in the Materials sector detracted from performance. The underweight positions in the Industrials, Consumer Discretionary, Consumer Staples, Communication Services and Real Estate sectors also detracted value.

At a stock level, the overweight positions in Beach Energy, AGL Energy, Webjet, Evolution Mining, Worley and Sandfire Resources contributed to relative performance. The nil positions in Iluka Resources, Ansell, Steadfast Group and Core Lithium also added value. Conversely, the overweight positions in IGO, Aurizon Holdings, Boss Energy, AMP, Lynas Rare Earths, Allkem, AUB Group and NIB Holdings detracted from relative performance. The nil positions in Virgin Money UK and Lendlease also detracted value.

Performance Commentary - June 30, 2023

Fund performance for the quarter ending June 2023 was +5.75% (net of fees) versus the benchmark return of +3.03%. The benchmark is a composite, 70% of the S&P/ASX MidCap 50 Accumulation Index and 30% of the S&P/ASX Small Ordinaries Accumulation Index.

Over the quarter, at a sector level, the overweight positions in the Information Technology and Utilities sectors contributed to relative performance. The underweight positions in the Consumer Discretionary, Consumer Staples, Health Care and Real Estate sectors also added value. Conversely, the overweight positions in the Energy, Materials, Industrials and Financials sectors detracted from relative performance. The underweight exposure to the Communication Services sector also detracted value.

At a stock level, the overweight positions in AGL Energy, Allkem, NextDC, Boss Energy, Aurizon Holdings, WiseTech Global, AUB Group, IGO and Worley contributed to relative performance. Conversely, the overweight positions in IDP Education, Johns Lyng Group, ALS, Incitec Pivot, Whitehaven Coal, Imdex, Block and Beach Energy detracted from relative performance. The nil position in Telix Pharmaceutical also detracted value.

Performance Commentary - May 31, 2023

Fund performance for May 2023 was +0.93% (net of fees) versus the benchmark return of -0.99%. The benchmark is a composite, 70% of the S&P/ASX MidCap 50 Accumulation Index and 30% of the S&P/ASX Small Ordinaries Accumulation Index.

At a sector level, the overweight positions in the Information Technology and Utilities sectors added to relative performance. The underweight positions in the Consumer Discretionary, Consumer Staples, Health Care, Communication Services and Real Estate sectors also added value. Conversely, the overweight positions in the Energy, Materials, Industrials and Financials sectors detracted from performance.

At a stock level, the overweight positions in Life360, NextDC, Lynas Rare Earths, Allkem, AGL Energy, Charter Hall Group, Worley, WiseTech Global and NIB Holdings contributed to relative performance. The nil position in Vicinity Centres also added value. Conversely, the overweight positions in IDP Education, Paladin Energy, ALS, Whitehaven Coal, Lifestyle Communities, AMP, AUB Group and Imdex detracted from relative performance. The nil positions in Washington H. Soul Pattinson and Technology One also detracted value.

Performance Commentary - April 30, 2023

Fund performance for April 2023 was +3.07% (net of fees) versus the benchmark return of +3.28%. The benchmark is a composite, 70% of the S&P/ASX MidCap 50 Accumulation Index and 30% of the S&P/ASX Small Ordinaries Accumulation Index.

At a sector level, the overweight position in the Information Technology sector added to relative performance. The underweight positions in the Industrials, Consumer Staples and Health Care sectors also added value. Conversely, the overweight positions in the Energy, Materials, Financials and Utilities sectors detracted from performance. The underweight exposures to the Consumer Discretionary, Communication Services and Real Estate sectors also detracted value.

At a stock level, the overweight positions in Evolution Mining, AMP, NextDC, Boss Energy, AUB Group, Webjet and Lifestyle Communities contributed to relative performance. The nil positions in Syrah Resources, Bendigo & Adelaide Bank and Champion Iron also added value. Conversely, the overweight positions in Block, Challenger, Ampol, Bank of Queensland and Imdex detracted from relative performance. The underweight position in Vicinity Centres and the nil positions in Telix Pharmaceutical, Carsales, Virgin Money UK and Reliance Worldwide also detracted value.

Performance Commentary - March 31, 2023

Fund performance for the quarter ending March 2023 was -4.49% (net of fees) versus the benchmark return of +0.58%. The benchmark is a composite, 70% of the S&P/ASX MidCap 50 Accumulation Index and 30% of the S&P/ASX Small Ordinaries Accumulation Index.

At a sector level, the overweight position in the Materials sector added to relative performance. The underweight positions in the Industrials, Consumer Staples, Information Technology and Real Estate sectors also added value. Conversely, the overweight positions in the Energy, Financials and Utilities sectors detracted from performance. The underweight exposures to the Consumer Discretionary, Health Care and Communication Services sectors also detracted value.

At a stock level, the overweight positions in Webjet, Ampol, AUB Group, NextDC, Evolution Mining and Boss Energy contributed to relative performance. The nil positions in Virgin Money UK, Aurizon, Bendigo and Adelaide Bank and Region Group also added value. Conversely, the overweight positions in AMP, Lynas Rare Earths, Challenger, Beach Energy, The a2 Milk Company, Lifestyle Communities and Nufarm detracted from relative performance. The underweight position in Charter Hall Group and the nil positions in REA Group and Liontown Resources also detracted value.

Performance Commentary - February 28, 2023

Fund performance for February 2023 was -4.24% (net of fees) versus the benchmark return of -3.35%. The benchmark is a composite, 70% of the S&P/ASX MidCap 50 Accumulation Index and 30% of the S&P/ASX Small Ordinaries Accumulation Index.

At a sector level, the overweight positions in the Energy and Financials sectors added to relative performance. The underweight positions in the Industrials, Consumer Discretionary, Health Care and Information Technology sectors also added value. Conversely, the overweight positions in the Materials and Utilities sectors detracted from performance. The underweight exposures to the Consumer Staples, Communication Services and Real Estate sectors also detracted value.

At a stock level, the overweight positions in AUB Group, Ampol, Challenger, Orica, Worley, Webjet and NextDC contributed to relative performance. The nil positions in Lendlease, Aurizon and JB Hi-Fi also added value. Conversely, the overweight positions in AMP, Lynas Rare Earths, Evolution Mining, Paladin Energy, Lifestyle Communities and IDP Education detracted from relative performance. The underweight positions in Charter Hall Group, Steadfast Group, Orora and Qube also detracted value.

Ausbil Australian Emerging Leaders (AAP0104AU) Report & Performance