ISIN INF955L01AD7
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.
In May 2016, the fund’s returns were at its peak at 2.08% per annum. Thereafter, the fund has been giving straight line returns close to 0%. During 2020 – 2022, the fund gave negative returns as low as -0.83% per annum. Overall the fund’s performance has been lower than the median’s performance.
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 a significant time around -0.40% to -0.60% per annum with lower than the index volatility of -1% to -0.5% per annum. However, in May 2023, the excess return was around -0.04% per annum. The overall returns have been negative with lower than the index volatility.
Tracking error
The tracking error ranges between 2.60% to 0.60% for the period May 2020 to May 2023.
In Nov 2022, the tracking error was the highest at 1.63%. However, in May 2023, the tracking error came down to 1.28%. The overall range has been around 1.63% to 0.60%.
Information ratio
The rolling IR has been quite volatile ranging from -2.5 to 3 making it difficult to discern any skill.
In June 2022, the information ratio reached the peak at 0.67. However, in May 2023, the ratio came down to -0.66. The overall range has been around 0.67 to -1.5.
Prepared by – Oraina Dsouza, June 2023
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