ISIN INF090I01HS2
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 negative returns over the years. In Nov 2016, the fund generated the highest returns at 3% per annum. However, in April 2023, the excess returns came down to -1.03% per annum. The blue line is below the median which indicates that 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 -0.50% to -1% per annum, whilst lower than the index volatility of -1.50% to -2% per annum. However, in May 2023, the excess returns were around -1% per annum. The fund has overall given negative returns 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.
The tracking error was the highest during the period between 2022 – 2023 at 2%. However, in May 2023, the tracking error came down to 1.1%. The overall range has been around 2% to 0.8%.
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 1.3. However, in May 2023, the ratio came down to -3.2. The overall range has been around 1.3 to -3.
Prepared by – Oraina Dsouza, June 2023
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