Russell Investments High Growth Fund invests 100% in growth assets, including alternatives. The Fund aims to provide capital growth over the long term consistent with a portfolio focusing solely on growth assets, while accepting fluctuations in capital values in the medium term.
The Russell Investments High Growth Fund narrowly outperformed the benchmark in the September quarter. However, the Fund did deliver negative absolute returns over the period.
Within our global equity portfolio, the Russell Investments Tax Effective Global Shares Fund outperformed its benchmark, benefiting from stock selection in Japan. This included our holdings in retailer Ryohin Keikaku Co. and Toyo Tire Corp. Stock selection in the UK also added value over the period; notably overweights to electric services company Centrica and multinational aerospace and defence firm Rolls-Royce. In contrast, the Russell Investments Multi-Asset Factor Exposure Fund recorded negative absolute and excess returns for the quarter, driven in part by its exposure to China and currency hedging positions. In terms of domestic equities, both the Russell Investments Australian Shares Core Fund and the Russell Investments Australian Opportunities Fund recorded negative absolute and excess returns for the quarter; the two funds impacted by a material overweight to the poor-performing healthcare space. Stock selection within the sector also weighed on returns, including overweights to ResMed and New Zealand’s Fisher & Paykel Healthcare. The Russell Investments Australian Factor Exposure Fund outperformed its benchmark; though absolute returns were negative. Elsewhere in the Fund, our exposures to global and Australian listed property and global listed infrastructure weighed on performance after government bond yields rose sharply over the period. Meanwhile, the Fund benefited from its exposure to Metrics Credit, which performed well as Australian loans continued to generate income-like returns. A weaker Australian dollar (relative to the US dollar) also boosted the returns of the Fund’s assets denominated in foreign currency.
What is Russell Investments High Growth Fund — Class A Russell Investments High Growth Fund — Class A is an Managed Funds investment product that is benchmarked against Multi-Asset Aggressive Investor Index and sits inside the Multi-Asset - 81-100% Multi-Manager Index. Think of a benchmark as a standard where investment performance can be measured. Typically, market indices like the ASX200 and market-segment stock indexes are used for this purpose. The Russell Investments High Growth Fund — Class A has Assets Under Management of 165.97 M with a management fee of 0.94%, a performance fee of 0 and a buy/sell spread fee of 0.35%.
How has the investment product performed recently? The recent investment performance of the investment product shows that the Russell Investments High Growth Fund — Class A has returned 1.94% in the last month. The previous three years have returned 6.77% annualised and 11.96% each year since inception, which is when the Russell Investments High Growth Fund — Class A first started.
How is risk measured in this investment product? There are many ways that the risk of an investment product can be measured, and each measurement provides a different insight into the risk present. They can be used on their own or together to perform a risk assessment before investing, but when comparing investments, it is common to compare like for like risk measurements to determine which investment holds the most risk. Since Russell Investments High Growth Fund — Class A first started, the Sharpe ratio is NA with an annualised volatility of 11.96%. The maximum drawdown of the investment product in the last 12 months is -2.98% and -46.49% since inception. The maximum drawdown is defined as the high-to-low decline of an investment during a particular time period.
What is the relative performance of the investment product? Relative performance is what an asset achieves over a period of time compared to similar investments or its peers. Relative return is a measure of the asset's performance compared to the return to the other investment. The Russell Investments High Growth Fund — Class A has a 12-month excess return when compared to the Multi-Asset - 81-100% Multi-Manager Index of 1.84% and 0.23% since inception.
Does the investment product produce Alpha over its Peers? Alpha is an investing term used to measure an investment's outperformance relative to a market benchmark or peer investment. Alpha describes the excess return generated when compared to peer investment. Russell Investments High Growth Fund — Class A has produced Alpha over the Multi-Asset - 81-100% Multi-Manager Index of NA% in the last 12 months and NA% since inception.
What are similar investment products? For a full list of investment products in the Multi-Asset - 81-100% Multi-Manager Index category, you can click here for the Peer Investment Report.
What level of diversification will Russell Investments High Growth Fund — Class A provide? Russell Investments High Growth Fund — Class A has a correlation coefficient of 0.99 and a beta of 1.14 when compared to the Multi-Asset - 81-100% Multi-Manager Index. Correlation measures how similarly two investments move in relation to one another. This establishes a 'correlation coefficient', which has a value between -1.0 and +1.0. A 100% correlation between two investments means that the correlation coefficient is +1. Beta in investments measures how much the price moves relative to the broader market over a period of time. If the investment moves more than the broader market, it has a beta above 1.0. If it moves less than the broader market, then the beta is less than 1.0. Investments with a high beta tend to carry more risk but have the potential to deliver higher returns.
How do I compare the investment product with its peers? For a full quantitative report on Russell Investments High Growth Fund — Class A and its peer investments, you can click here for the Peer Investment Report.
How do I compare the Russell Investments High Growth Fund — Class A with the Multi-Asset Aggressive Investor Index? For a full quantitative report on Russell Investments High Growth Fund — Class A compared to the Multi-Asset Aggressive Investor Index, you can click here.
Can I sort and compare the Russell Investments High Growth Fund — Class A to do my own analysis? To sort and compare the Russell Investments High Growth Fund — Class A financial metrics, please refer to the table above.
Has the Russell Investments High Growth Fund — Class A been independently verified by SMSF Mate? This investment product is in the process of being independently verified by SMSF Mate. Once we have verified the investment product, you will be able to find more information here.
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Performance Commentary - August 31, 2023 The Russell Investments High Growth Fund narrowly underperformed the benchmark in August. The Fund’s 100% allocation to growth assets such as Australian and global equities means returns are highly sensitive to movements in share markets.
The Fund’s equity portfolio was mixed over the period. Within our global equity portfolio, the Russell Investments Tax Effective Global Shares Fund (TEGS) recorded positive absolute returns for the month; though excess returns were in line with its benchmark. TEGS benefited in part from stock selection in the UK; notably a short position in healthcare firm AstraZeneca and an overweight to energy provider Centrica. In contrast, both the Russell Investments Multi-Asset Factor Exposure Fund (MAFEF) and the Russell Investments Global Opportunities Fund – $A Hedged (RGOF) delivered negative absolute and excess returns for the month. MAFEF’s underperformance was driven largely by its value factor exposure, while RGOF was impacted by poor stock selection in the US. This included underweights to strong-performing names like chip maker NVIDIA, e-commerce platform Amazon.com and pharmaceutical company Eli Lilly & Co. In terms of domestic equities, the Russell Investments Australian Shares Core Fund, the Russell Investments Australian Opportunities Fund and the Russell Investments Australian Factor Exposure Fund all recorded negative absolute returns in August. Meanwhile, the Fund benefited from its exposure to Australian listed property and Metrics Credit, with Australian loans continuing to generate income-like returns. A weaker Australian dollar (relative to the US dollar) also boosted the returns of the Fund’s assets denominated in foreign currency.
Performance Commentary - July 31, 2023 The Russell Investments High Growth Fund outperformed the benchmark in July. The Fund’s 100% allocation to growth assets such as Australian and global equities means returns are highly sensitive to movements in share markets.
The Fund’s equity portfolio performed well over the period. In terms of global equities, the Russell Investments Tax Effective Global Shares Fund (TEGS) and the Russell Investments Multi-Asset Factor Exposure Fund (MAFEF) delivered positive absolute and excess returns for the month. TEGS’ outperformance was driven in part by stock selection in the US, including overweights to Meta Platforms (formerly Facebook) and Uber Technologies. Stock selection in the UK added further value; notably overweights to Centrica and Land Securities Group. MAFEF benefited largely from its value and growth factor exposures. Within our domestic equities portfolio, the Russell Investments Australian Shares Core Fund and the Russell Investments Australian Opportunities Fund (RAOF) also recorded positive absolute and benchmark-relative returns in July. The Core Fund’s outperformance was driven by stock selection within the materials and consumer discretionary sectors; the latter including an overweight to IDP Education, which climbed almost 13% over the period. RAOF also benefited from stock selection amongst materials; notably an underweight to iron ore major Fortescue Metals Group. The Russell Investments Australian Factor Exposure Fund performed in line with its benchmark in July; though absolute returns were positive. The Fund also benefited from its exposure to global and Australian listed property and Metrics Credit, with Australian loans continuing to generate incomelike returns over the period. Meanwhile, a weaker Australian dollar (relative to the US dollar) boosted the returns of the Fund’s assets denominated in foreign currency.
Performance Commentary - June 30, 2023 The Russell Investments High Growth Fund narrowly outperformed the benchmark in the June quarter.
The Fund’s equity portfolio was mixed over the period. In terms of domestic equities, both the Russell Investments Australian Shares Core Fund and the Russell Investments Australian Opportunities Fund (RAOF) delivered positive absolute and excess returns for the quarter. The Core Fund benefited from stock selection within the strong-performing information technology space; notably overweights to Xero, WiseTech Global and NEXTDC. RAOF’s outperformance was driven by strong stock selection amongst materials and financials, including overweights to QBE Insurance and Virgin Money UK. The Russell Investments Australian Factor Exposure Fund narrowly outperformed its benchmark, benefiting largely from its growth factor exposure. Within our global equity portfolio, both the Russell Investments Tax Effective Global Shares Fund (TEGS) and the Russell Investments Multi-Asset Factor Exposure Fund (MAFEF) recorded strong absolute returns for the quarter but underperformed their respective benchmarks. TEGS was impacted by poor stock selection in the US, including underweights to large growth names like Apple and Amazon.com, while MAFEF’s underperformance was driven in part by its value factor exposure. More broadly, the Fund benefited from its exposure to global and Australian listed property. Metrics Credit also performed well, with Australian loans continuing to generate income-like returns. Meanwhile, a weaker Australian dollar (relative to the US dollar) boosted the returns of the Fund’s assets denominated in foreign currency.
Performance Commentary - May 31, 2023 The Russell Investments High Growth Fund narrowly outperformed the benchmark in May. However, the Fund did deliver negative absolute returns for the month. The Fund’s 100% allocation to growth assets such as Australian and global equities means returns are highly sensitive to movements in share markets.
The Fund’s equity portfolio was mixed over the period. In terms of global equities, the Russell Investments Tax Effective Global Shares Fund delivered positive absolute returns for the month but underperformed its benchmark. Much of the Fund’s underperformance was driven by poor stock selection in the US; notably underweights to large cap names like NVIDIA Corp., Apple and electric car maker Tesla. Other US positions to impact returns were underweights to e-commerce giant Amazon.com and semiconductor manufacturer Broadcom. In contrast, the Russell Investments Multi-Asset Factor Exposure Fund recorded both negative absolute and excess returns in May. Within our Australian equities portfolio, both the Russell Investments Australian Shares Core Fund and the Russell Investments Australian Opportunities Fund (RAOF) delivered negative absolute returns for the month but outperformed their benchmarks. The Core Fund’s outperformance was driven in part by an overweight to the information technology sector, including overweights to Xero, WiseTech Global and NEXTDC. RAOF benefited from strong stock selection within the energy space. This included overweights to oil and gas producer Santos and energy retailer Ampol. Nil holdings in poor-performing names like uranium explorer Paladin Energy and coal miner New Hope Corp. were also positive. The Fund’s exposure to Metrics Credit added further value over the period, with Australian loans continuing to generate income-like returns. Meanwhile, a weaker Australian dollar boosted the returns of the Fund’s assets denominated in foreign currency.
Performance Commentary - April 30, 2023 The Russell Investments High Growth Fund outperformed the benchmark in April. The Fund’s 100% allocation to growth assets such as Australian and global equities means returns are highly sensitive to movements in share markets. Within the Fund’s global equity portfolio, the Russell Investments Tax Effective Global Shares Fund delivered positive absolute and excess returns for the month, benefiting from strong stock selection in the UK.
This included ex-benchmark holdings in stockbroker Numis Corp. and price comparison website Moneysupermarket.com. Stock selection in the US added further value in April, including an underweight to electric car maker Tesla, which fell almost 20% over the period. In contrast, the Russell Investments Multi-Asset Factor Exposure Fund was flat for the month. Within our Australian equity portfolio, the Russell Investments Australian Shares Core Fund was also flat in April, while the Russell Investments Australian Opportunities Fund (RAOF) recorded positive absolute and benchmark-relative returns for the month.
RAOF’s outperformance was driven by strong stock selection within the materials sector; notably underweights to major miners BHP Group and Fortescue Metals Group. An overweight to takeover target Newcrest Mining also added value. Elsewhere in the Fund, our exposures to global listed infrastructure and global and Australian listed property contributed positively to performance in April.
Metrics Credit also performed well over the period, with Australian loans continuing to generate income-like returns. Meanwhile, a weaker Australian dollar boosted the returns of the Fund’s assets denominated in foreign currency.
Performance Commentary - March 31, 2023 The Russell Investments High Growth Fund outperformed the benchmark in the March quarter. The Fund’s equity portfolio was mixed over the period. In terms of domestic equities, both the Russell Investments Australian Shares Core Fund and the Russell Investments Australian Opportunities Fund delivered positive absolute and excess returns for the quarter, benefiting from strong stock selection within the financials space.
This included underweights to poor-performing names like Commonwealth Bank of Australia and Westpac Banking Corp. In contrast, the Russell Investments Australian Factor Exposure Fund narrowly underperformed its benchmark, driven by its low-volatility, value and momentum factor exposures. Within our global equity portfolio, both the Russell Investments Tax Effective Global Shares Fund (TEGS) and the Russell Investments MultiAsset Factor Exposure Fund (MAFEF) underperformed their respective benchmarks over the period; though the two funds did record strong absolute returns for the quarter.
TEGS was impacted by poor stock selection in the US, including underweights to large growth names like Apple and electric car maker Tesla, while MAFEF’s underperformance was driven largely by its value factor exposure. More broadly, the Fund benefited from its exposure to global and Australian listed property and global listed infrastructure; all of which benefited from the sharp decline in longer-term government bond yields we saw over the period. Metrics Credit also performed well, with Australian loans continuing to generate income-like returns. Meanwhile, a weaker Australian dollar boosted the returns of the Fund’s assets denominated in foreign currency.
Performance Commentary - February 28, 2023 The Russell Investments High Growth Fund outperformed the benchmark in February. However, the Fund did deliver negative absolute returns for the month. The Fund’s 100% allocation to growth assets such as Australian and global equities means returns are highly sensitive to movements in share markets.
The Fund’s equity portfolio was mixed over the period. Within our Australian equity portfolio, both the Russell Investments Australian Shares Core Fund and the Russell Investments Australian Opportunities Fund (RAOF) delivered positive excess returns for the month but underperformed their benchmarks. The Core Fund benefited from stock selection amongst financials, while RAOF’s outperformance was driven by stock selection within the materials space. This included underweights to BHP Group and Pilbara Minerals; both of which declined amid general weakness across the broader commodities complex. In terms of global equities, the Russell Investments Tax Effective Global Shares Fund (TEGS) underperformed its benchmark in February; though it did record positive absolute returns for the month. TEGS was impacted by stock selection in the US; notably underweights to large growth names like Apple, NVIDIA Corp. and electric car maker Tesla. The Russell Investments Multi-Asset Factor Exposure Fund also underperformed over the period. More broadly, the Fund’s exposures to global and Australian listed property weighed on overall performance as government bond yields jumped on the back of US rate hike expectations, while a weaker Australian dollar boosted the returns of the Fund’s assets denominated in foreign currency.
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