ISIN INF179K01VS0
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 fund has generated positive excess returns between May 2016 to April 2019, as high as 2.17% in Nov 2016. Thereafter, the fund has given negative returns from May 2019 to April 2023, as low as -1.36%.
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% to – 0.5% per annum, whilst lower than the index volatility of -1.5% to -1% per annum. In May 2023, the excess returns came down to around -0.2% with lower than the index volatility of around -1.2%. Overall the fund has 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 at 1.55% in Nov 2022. However, in May 2023, the tracking error came down to 0.87%. Overall the tracking error has been above 0.5%.
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 1.09. However, in May 2023, the ratio came down to -2.77. The overall range has been around 1 to -1.5.
Prepared by – Oraina Dsouza, June 2023
You must be logged in to post a comment.