ISIN INF843K01GS2
Performance analysis
Rolling returns in quartiles
The 3-year rolling excess median return has gradually come down from around 0.57% from May 2016 to -0.20% in April 2023. The dispersion between upper and lower quartile is still wide at +1.58% and -1.67% pa.
The rolling return chart shows that the fund has given positive excess returns over the years as high as 2.11% per annum in April 2022. In April 2023, the excess returns were at 1.58% per annum. The blue line is above the median which indicates the fund has outperformed the performance of the median.
Rolling risk/return (Snail-trail)
Funds in this category have shown slightly higher (-2 to +1.8) standard deviation compared to the volatility of the index.
The fund has shown 3 – year excess return touching 2.11% per annum and a significant time around 2% to 1% per annum, whilst higher than index volatility of 0.5% to 1% per annum. However, in May 2023, the excess returns came down to around 1.4% per annum.
Tracking error
The tracking error ranges between 2.60% to 0.60% for the period May 2020 to May 2023.
In May 2020, the tracking error was the highest at 1.76%. However, in May 2023, the tracking error came down to 0.64%. The overall range has been around 1.7% to 1%.
Information ratio
The rolling IR has been quite volatile ranging from -2.5 to 3 making it difficult to discern any skill.
In April 2021, the information ratio reached the peak at 3.78. However, in May 2023, the ratio came down to -3.3. The information ratio for the fund has mostly been above 0.5. The overall range has been around 4 to -1.
Prepared by – Oraina Dsouza, June 2023
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