ISIN INF277K01OX7
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 positive excess returns for the period between May 2016 to March 2020. In May 2016, the excess returns were at 1.5% per annum. From April 2020 to April 2023, the fund has been giving negative returns as low as -1.14% 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 a significant time around -0.5% to -1% per annum, whilst higher than the index volatility of 1.5% to 2% per annum. However, in May 2023, the excess returns were around -0.2%.
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 2.2% in 2022. However, in May 2023, the tracking error came down to 1.7%. The overall range has been around 2.2% 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 Oct 2022, the information ratio reached the peak at 1.4. However, in May 2023, the ratio came down to -0.3. The overall range has been around 1.5 to -1.5.
Prepared by – Oraina Dsouza, June 2023
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