ISIN INF767K01EZ3
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 given negative returns between May 2016 to March 2018 as low as -1% per annum. Thereafter, the fund has given positive returns from April 2018 as high as 1.35% per annum. However, in April 2023, the excess returns were around -0.20% per annum.
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 3 – year excess returns touching 1.35% per annum and a significant time around 0.5% – 0% per annum, whilst lower than the index volatility of 0% to -1% per annum. However, in May 2023, the excess returns came down to around 0.3%.
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 2.6% in Aug 2022. However, in May 2023, the tracking error came down to 1.1%.
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 and Feb 2021, the information ratio reached the peak at around 1. However, in May 2023, the ratio came down to -3. The information ratio for the fund has mostly been above -0.5. The overall range has been around 1 to -0.5.
Prepared by – Oraina Dsouza, June 2023
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