September, 2023
Fund performance for the quarter ending September 2023 was -1.74% (net of fees), versus the benchmark return of -0.77%, as measured by the S&P/ASX 200 Accumulation Index.
Over the quarter, at a sector level, the overweight positions in the Energy and Utilities sectors contributed to relative performance. The underweight position in the Industrials sector also added value. Conversely, the overweight positions in the Consumer Staples, Health Care, Information Technology and Communication Services sectors detracted from relative performance. The underweight positions in the Materials, Consumer Discretionary, Financials and Real Estate sectors also detracted value.
The largest short positions were in selected stocks within the Consumer Discretionary, Real Estate and Industrials sectors.
At a stock level, the overweight positions in Carsales.com, Treasury Wine Estates, Suncorp, Santos, Aristocrat Leisure and Worley contributed to relative performance. The underweight position in WiseTech Global, and the nil position in Sonic Healthcare also added value. Conversely, the overweight positions in ResMed, CSL, QBE Insurance, Telstra, Block, Pilbara Minerals, Aurizon Holdings and IDP Education detracted from relative performance. The underweight position in Wesfarmers also detracted value.
File: https://commentary.quantreports.net/wp-content/uploads/2021/01/2309-Ausbil-130-30-Focus-Fund-Product-Report_AAP0008AU-1.pdfJune, 2023
Fund performance for the quarter ending June 2023 was +0.72% (net of fees), versus the benchmark return of +1.01%, as measured by the S&P/ASX 200 Accumulation Index.
Over the quarter, at a sector level, the overweight exposure to the Information Technology sector contributed to relative performance. The underweight exposure to the Consumer Discretionary sector also added to performance. Conversely, the overweight positions in the Health Care, Communication Services and Utilities sectors detracted from relative performance. The underweight positions in the Energy, Materials, Industrials, Consumer Staples, Financials and Real Estate sectors also detracted value.
The largest short positions were in selected stocks within the Consumer Discretionary, Real Estate and Communication Services sectors.
At a stock level, the overweight positions in Xero, Allkem, Goodman Group, NextDC, James Hardie, Aurizon Holdings, IGO and Santos contributed to relative performance. The nil position in Ramsay Health Care and the underweight position in Northern Star Resources also added value. Conversely, the overweight positions in IDP Education, Treasury Wine Estates, BHP, Rio Tinto, Pilbara Minerals, Evolution Mining, BlueScope Steel and APA Group detracted from relative performance. The underweight position in WiseTech Global also detracted value.
File: https://commentary.quantreports.net/wp-content/uploads/2021/01/2306-Ausbil-130-30-Focus-Fund-Product-Report_AAP0008AU-1.pdfMarch, 2023
Fund performance for the quarter ending March 2023 was +1.88% (net of fees) versus the benchmark return of +3.46%, as measured by the S&P/ASX 200 Accumulation Index.
At a sector level, the overweight positions in the Consumer Staples and Communication Services sectors contributed to relative performance. The underweight positions in the Financials and Real Estate sectors also contributed to relative performance. Conversely, the overweight positions in the Health Care, Information Technology and Utilities sectors detracted from relative performance. The underweight positions in the Energy, Materials, Industrials and Consumer Discretionary sectors also detracted value.
The largest short positions were in select stocks within the Consumer Discretionary, Materials and Real Estate sectors.
At a stock level, the overweight positions in Aristocrat Leisure, Woolworths, Fisher & Paykel, BHP, Newcrest Mining and Telstra contributed to relative performance. The nil position in Whitehaven Coal and the underweight positions in Westpac Bank and ANZ Bank also contributed value. Conversely, the overweight positions in Computershare, Lynas Rare Earths and APA Group detracted from relative value. The underweight positions in South32, Allkem, Wesfarmers and Woodside Energy Group also detracted value.
File: https://commentary.quantreports.net/wp-content/uploads/2021/01/2303-Ausbil-130-30-Focus-Fund-Product-Report_AAP0008AU-1.pdfJanuary, 2023
Fund performance for January 2023 was +5.46% (net of fees) versus the benchmark return of +6.23%, as measured by the S&P/ASX 200 Accumulation Index.
At a sector level, the overweight position in the Communication Services sector contributed to relative performance. The underweight position in the Financials sector also contributed to relative performance. Conversely, the overweight positions in the Industrials, Consumer Staples, Health Care, Information Technology and Utilities sectors detracted from relative performance. The underweight positions in the Energy, Materials, Consumer Discretionary and Real Estate sectors also detracted value.
The largest short positions were in select stocks within the Consumer Discretionary, Materials, Financials and Communication Services sectors.
At a stock level, the overweight positions in Goodman Group, Lynas Rare Earths, IDP Education, Macquarie Group, Aristocrat Leisure and Seek contributed to relative performance. The underweight position in Westpac Bank and the nil position in Origin Energy also contributed value. Conversely, the overweight positions in Computershare, Santos, APA Group and Suncorp detracted from relative value. The underweight positions in South32 and Allkem also detracted value.
File: https://commentary.quantreports.net/wp-content/uploads/2021/01/2301-Ausbil-130-30-Focus-Fund-Product-Report_AAP0008AU.pdfDecember, 2022
Fund performance for the quarter ending December 2022 was +5.14% (net of fees) versus the benchmark return of +9.40%, as measured by the S&P/ ASX 200 Accumulation Index.
At a sector level, the underweight position in the Consumer Discretionary sector contributed to relative value. Conversely, the overweight positions in the Energy, Consumer Staples, Health Care, Information Technology, Communication Services and Utilities sectors detracted from relative performance. The underweight positions in the Materials, Industrials, Financials and Real Estate sectors also detracted value.
The largest short positions were in select stocks within the Consumer Discretionary, Materials, Information Technology and Financials sectors.
At a stock level, the overweight positions in BHP, Suncorp and Carsales. com contributed to relative performance. The underweight positions in Whitehaven Coal, Allkem and ASX and the nil position in Endeavour Group also contributed value. Conversely, the overweight positions in Medibank, ResMed, Woolworths, Santos, Telstra, CSL and Ampol detracted from relative value. The nil position in Fortescue Metals and the underweight positions in Origin Energy and South32 also detracted value.
File: https://commentary.quantreports.net/wp-content/uploads/2021/01/2212-Ausbil-130-30-Focus-Fund-Product-Report_AAP0008AU-1.pdfSeptember, 2022
Fund performance for the quarter ending September 2022 was -2.03% (net of fees) versus the benchmark return of +0.39%, as measured by the S&P/ASX 200 Accumulation Index.
At a sector level, the overweight position in the Health Care sector contributed to relative value. The underweight positions in the Industrials and Real Estate sectors also contributed to relative value. Conversely, the overweight positions in the Energy, Consumer Staples, Information Technology, Communication Services and Utilities sectors detracted from relative performance. The underweight positions in the Materials, Consumer Discretionary and Financials sectors also detracted value.
The largest short positions were in selected stocks within the Consumer Discretionary, Information Technology, Materials, Real Estate and Financials sectors.
At a stock level, the overweight positions in IGO, South32, ResMed, CSL, Allkem, Computershare, Treasury Wine Estates and OZ Minerals contributed to relative performance. The nil position in Newcrest Mining also contributed value. Conversely, the overweight positions in APA Group, Goodman Group, Suncorp, Ampol, Carsales.com and Macquarie Group detracted from relative value. The underweight positions in Mineral Resources and Woodside Energy Group, and the nil position in Pilbara Minerals also detracted value.
File: https://commentary.quantreports.net/wp-content/uploads/2021/01/2209-Ausbil-130-30-Focus-Fund-Product-Report_AAP0008AU.pdfJune, 2022
Fund performance for the quarter ending June 2022 was -9.15% (net of fees), versus the benchmark return of -11.90%, as measured by the S&P/ASX 200 Accumulation Index.
Over the quarter, at a sector level, the overweight exposures to the Energy, Materials, Consumer Staples, Health Care, Communication Services and Utilities sectors contributed to relative performance. The underweight exposures to the Financials, Information Technology and Real Estate sectors also added to performance. Conversely, the underweight positions in the Industrials and Consumer Discretionary sectors detracted value.
The largest short positions were in selected stocks within the Consumer Discretionary, Financials and Materials sectors.
At a stock level, the overweight positions in CSL, Amcor, Santos, Ampol, Computershare, Coles Group and Telstra contributed to relative performance. The nil position in Block also added value. Conversely, the overweight positions in Northern Star Resources, Evolution Mining, IDP Education, Goodman Group, James Hardie, OZ Minerals, Seek and Lynas Rare Earths detracted from relative performance. The underweight positions in Transurban Group and Brambles also detracted value.
File: https://commentary.quantreports.net/wp-content/uploads/2021/01/ausbil-130-30-focus-fund-june-2022.pdfMarch, 2022
Fund performance for the quarter ending March 2022 was +2.35% (net of fees) versus the benchmark return of +2.24%, as measured by the S&P/ASX 200 Accumulation Index.
At a sector level, the overweight position in the Energy sector contributed to relative value. The underweight exposures to the Materials, Industrials, Information Technology and Real Estate sectors also added value. Conversely, the overweight positions in the Consumer Discretionary, Health Care, Communication Services and Utilities sectors detracted from relative performance. The underweight positions in the Consumer Staples and Financials sectors also detracted value. The largest short positions were in selected stocks within the Financials, Materials, Information Technology, Industrials and Consumer Discretionary sectors.
At a stock level, the overweight positions in BHP, IGO, Computershare, Santos, Lynas Rare Earths, Origin Energy and Allkem contributed to relative performance. The nil position in Block also contributed value. Conversely, the overweight positions in Goodman Group, Pointsbet, Aristocrat Leisure, CSL, Praemium, IDP Education and Seek detracted from relative value. The underweight positions in Woodside Petroleum and Westpac Bank also detracted value.
File: https://commentary.quantreports.net/wp-content/uploads/2021/01/2203-Ausbil-130-30-Focus-Fund-Product-Report_AAP0008AU-1.pdfJune, 2021
Fund performance for the quarter ending June 2021 was +6.85% (net of fees), versus the benchmark return of +8.29%, as measured by the S&P/ ASX 200 Accumulation Index.
Over the quarter, at a sector level, the overweight exposures to the Materials, Consumer Discretionary and Health Care sectors contributed to relative performance. The underweight exposures to the Energy, Consumer Staples and Utilities sectors also added to performance. Conversely, the underweight positions in the Industrials, Financials, Information Technology, Comm unication Services and Real Estate sectors also detracted value.
The largest short positions were in selected stocks within the Real Estate, Industrials and Consumer Discretionary sectors.
The market delivered another positive month with a return of +2.3% as measured by the S&P/ASX 200 Accumulation Index, which is up +8.3% for the quarter, +12.9% for calendar year 2021, and +27.8% for the year to 30 June 2021.
As 30 June closes the Australian financial year, a look back at performance across markets and commodities illustrates the power of the rebound we have experienced, even as the virus remains an overhanging risk. Markets are riding the strong multi-year outlook for earnings driven by the economic growth cycle. Massive stimulus and monetary support since the pandemic has seen the Australian economy rebound from the two-quarter technical recession (with pandemic contraction of -2.4% in 2020) towards a consensus growth outlook for 2021 of 4.9%, and an Ausbil forecast of 5.1%.
The consensus earnings outlook for both indices is only now starting to catch-up, with the EPS growth outlook for 2021 now at +24.6%, and +15.9% for 2022
File: https://commentary.quantreports.net/wp-content/uploads/2021/01/2106-Ausbil-130-30-Focus-Fund-Product-Report-2.pdfMarch, 2021
Fund performance for the quarter ending March 2021 was +5.05% (net of fees) versus the benchmark return of +4.26%, as measured by the S&P/ ASX 200 Accumulation Index.
At a sector level, the overweight positions in the Consumer Discretionary and Health Care sectors contributed to relative performance. The underweight positions in the Industrials, Consumer Staples, Financials, Information Technology and Utilities sectors also added value. Conversely, the overweight position in the Materials sector detracted from relative performance. The underweight positions in the Energy, Communication Services and Real Estate sectors also detracted value. The largest short positions were in selected stocks within the Energy, Financials and Consumer Discretionary sectors
File: https://commentary.quantreports.net/wp-content/uploads/2021/01/2103Ausbil-130-30-Focus-Fund-Product-Report-1.pdfDecember, 2020
Fund performance for the quarter ending December 2020 was +13.00% (net of fees) versus the benchmark return of +13.70%, as measured by the S&P/ASX 200 Accumulation Index. At a sector level, the overweight position in the Real Estate sector contributed to relative performance. The underweight positions in the Energy, Industrials, Consumer Discretionary, Consumer Staples and Utilities sectors also added value. Conversely, the overweight positions in the Materials and Health Care sectors detracted from relative performance.
The underweight positions in the Financials, Information Technology and Communication Services sectors also detracted value. The Fund’s largest short positions were in selected stocks within the Financials, Industrials and Health Care sectors. At a stock level, the overweight positions in Nuix, Lynas, BlueScope Steel, National Australian Bank and BHP contributed to relative performance.
The nil position in Evolution Mining also added to performance. Conversely, the overweight positions in CSL, Saracen Mineral Holdings, Ramsay Health Care, United Malt Group, Sonic Healthcare, Goodman Group, Aristocrat Leisure and Dexus Property Group detracted from relative value. The underweight exposure to Afterpay also detracted value.
File: https://commentary.quantreports.net/wp-content/uploads/2021/01/2012-Ausbil-130-30-Focus-Fund-Product-Report.pdfticker: AAP0008AU
release_schedule: Quarterly
commentary_block: Array
factsheet_url:
https://www.ausbil.com.au/products/australian-equities/ausbil-130-30-focus-fund
Bottom left -> reports -> monthly performance report
asset_class: Domestic Equity
asset_category: Australian Long Short
peer_benchmark: Domestic Equity - Long Short Index
broad_market_index: ASX Index 200 Index
structure: Managed Fund
manager_contact_details: Array
fund_features:
Ausbil 130/30 Focus – Wholesale aims to outperform the S&P/ASX 200 Accumulation Index over the long term by investing in listed Australian equities (long and short). The Fund invests in a portfolio of listed Australian equities (long and short) that are generally chosen from the S&P/ASX 300 Index.
- The Fund will hold between 25-50 securities for its long exposure and a maximum of 25 securities for its short exposure.
- Target long positions of approximately 130% and short positions of approximately 30%.