ISIN INF760K01FC4
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 during the period between 2016 – 2020. Thereafter, from 2020, the fund has given negative returns till April 2023. In July 2017, the fund’s returns were at its peak at 2.11%. However, in April 2023, the returns declined to 0.04%.
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 0.2% per annum with lower than the index volatility of around -1% to -0.5% per annum. However, in May 2023, the excess returns came down to around -2.3% per annum with lower than the index volatility of around -2.5% to -2%.
Tracking error
The tracking error ranges between 2.60% to 0.60% for the period May 2020 to May 2023.
In Aug 2022, the tracking error was at its peak at 1.88%. However, in May 2023, the tracking error came down to 1.08%. The overall range has been around 1.9% 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 May 2022, the information ratio reached the peak at 1. However, in May 2023, the ratio came down to -1.77. The overall range has been around 1 to -1.
Prepared by – Oraina Dsouza, June 2023
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