The Fund aims to provide capital growth over the long-term (at least five years) and tax effective income through investing primarily in a concentrated portfolio of Australian and New Zealand securities.
The Fund delivered a return of -0.5% for the September quarter after fees and expenses, outperforming the broader ASX300 accumulation index which returned -0.8% over the same period. Top performers over this period included our holdings in Carsales and Treasury Wine, and our short in Illuka Resources. Top detractors included our holdings in Resmed, Transurban, and being underweight Goodman Group.
What is WaveStone Dynamic Australian Equity WaveStone Dynamic Australian Equity is an Managed Funds investment product that is benchmarked against ASX Index 200 Index and sits inside the Domestic Equity - Long Short 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 WaveStone Dynamic Australian Equity has Assets Under Management of 283.05 M with a management fee of 1.1%, a performance fee of 0.00% and a buy/sell spread fee of 0.4%.
How has the investment product performed recently?
The recent investment performance of the investment product shows that the WaveStone Dynamic Australian Equity has returned 2.33% in the last month. The previous three years have returned 5.75% annualised and 11.23% each year since inception, which is when the WaveStone Dynamic 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 WaveStone Dynamic Australian Equity first started, the Sharpe ratio is NA with an annualised volatility of 11.23%. The maximum drawdown of the investment product in the last 12 months is -9.24% and -25.79% 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 WaveStone Dynamic Australian Equity has a 12-month excess return when compared to the Domestic Equity - Long Short Index of -4.45% and -2.12% 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. WaveStone Dynamic Australian Equity has produced Alpha over the Domestic Equity - Long Short 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 - Long Short Index category, you can click here for the Peer Investment Report.
What level of diversification will WaveStone Dynamic Australian Equity provide?
WaveStone Dynamic Australian Equity has a correlation coefficient of 0.94 and a beta of 0.87 when compared to the Domestic Equity - Long Short 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 WaveStone Dynamic Australian Equity and its peer investments, you can click here for the Peer Investment Report.
How do I compare the WaveStone Dynamic Australian Equity with the ASX Index 200 Index?
For a full quantitative report on WaveStone Dynamic Australian Equity compared to the ASX Index 200 Index, you can click here.
Can I sort and compare the WaveStone Dynamic Australian Equity to do my own analysis?
To sort and compare the WaveStone Dynamic Australian Equity financial metrics, please refer to the table above.
Has the WaveStone Dynamic 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 WaveStone Dynamic Australian Equity?
How do I get in contact with the WaveStone Dynamic Australian Equity?
Comments from SMSF Mates
SMSF Mate does not receive commissions or kickbacks from the WaveStone Dynamic Australian Equity. All data and commentary for this fund is provided free of charge for our readers general information.
Performance Commentary - August 31, 2023 The Fund delivered a total return of 0.2% for the August month after all fees and expenses. The S&P/ASX 300 Accumulation Index returned -0.8% over the same period.
Performance Commentary - July 31, 2023 The Fund delivered a total return of 1.7% for the July month after all fees and expenses. The S&P/ASX 300
Accumulation Index returned 2.9% over the same period.
Performance Commentary - June 30, 2023 The Fund delivered a total return of 1.7% for the June quarter after all fees and expenses. The S&P/ASX 300 Accumulation Index returned 1.0% over the same period.
Performance Commentary - May 31, 2023 The Fund delivered a total return of -1.6% for the May month after all fees and expenses. The S&P/ASX 300 Accumulation Index returned -2.5% over the same period.
Performance Commentary - April 30, 2023 The Fund delivered a total return of 2.0% for the April month after all fees and expenses. The S&P/ASX 300 Accumulation Index returned 1.8% over the same period.
Performance Commentary - March 31, 2023 The Fund delivered a total return of 3.9% for the March quarter after all fees and expenses. The S&P/ASX 300 Accumulation Index returned 3.3% over the same period. The Fund size was $177.4m and the unit price was $1.6743 as at 31 March 2023.
Performance Commentary - February 28, 2023 The Fund delivered a total return of -1.9% for the February month after all fees and expenses. The S&P/ASX 300 Accumulation Index returned -2.5% over the same period.
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