ISIN INF205K01SN0
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 returns between May 2016 to Oct 2019 as high as 1.35% per annum. Thereafter, the fund has given negative returns as low as -1.5% between Nov 2019 to April 2023. The blue line’s time below the median line indicates that the fund has underperformed 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 a significant time around -1% to -1.5% per annum, whilst higher than the index volatility of 0.5% – 1% per annum. However, in May 2023, the excess returns were around -1%.
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 2.8% in Nov 2022. However, in May 2023, the tracking error came down to 1.3%. Overall the tracking error has been above 0.7%.
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 0.75. However, in May 2023, the ratio came down to -2.2.
Prepared by – Oraina Dsouza, June 2023
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