The Fund aims to provide investors with a total investment return (before fees and taxes) that outperforms the benchmark over periods of five years or longer. The Fund invests in small capitalization shares listed, or expected to be listed, on the Australian Securities Exchange, predominantly in companies that are outside the top 100 stocks as defined by market capitalization.
The BT Multi-Manager Australian Shares Fund returned 10.60% on a net basis in November, outperforming the S&P/ ASX 300 Accumulation Index by 0.37%. Australian equities had their highest one month return since 1988 on the back of positive news surrounding the progress of COVID-19 vaccines. Underlying manager performance was mixed. Nikko was the largest contributor to relative performance, benefitting from a strong market rotation into value and vaccine winner stocks. This style rotation consequently resulted in Platypus being the largest detractor over the period.
The manager’s portfolio has a moderate exposure to defensive stocks, which investors have shifted out of given the optimism over a potential vaccine. From a sector perspective, the overweight to, and positive stock selection in Industrials was the largest positive contributor to performance. On the other hand, the underweight to, and negative stock selection in Real Estate was the largest detractor. At a stock level, overweight to Qantas was the largest positive contributor, while the underweight to National Australia Bank Limited was the largest detractor.
What is BT Multi-Manager Aus Shr WS BT Multi-Manager Aus Shr WS is an Managed Funds investment product that is benchmarked against ASX Index 200 Index and sits inside the Domestic Equity - Large Cap Passive 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 BT Multi-Manager Aus Shr WS has Assets Under Management of 2.74 M with a management fee of 0.75%, a performance fee of 0.00% and a buy/sell spread fee of 0%.
How has the investment product performed recently?
The recent investment performance of the investment product shows that the BT Multi-Manager Aus Shr WS has returned 2.02% in the last month. The previous three years have returned 6.63% annualised and 14.29% each year since inception, which is when the BT Multi-Manager Aus Shr WS 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 BT Multi-Manager Aus Shr WS first started, the Sharpe ratio is 0.39 with an annualised volatility of 14.29%. The maximum drawdown of the investment product in the last 12 months is -20.98% and -46.06% 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 BT Multi-Manager Aus Shr WS has a 12-month excess return when compared to the Domestic Equity - Large Cap Passive Index of 7.73% and -126.98% 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. BT Multi-Manager Aus Shr WS has produced Alpha over the Domestic Equity - Large Cap Passive Index of 0.0 in the last 12 months and 0.02 since inception.
What are similar investment products?
For a full list of investment products in the Domestic Equity - Large Cap Passive Index category, you can click here for the Peer Investment Report.
What level of diversification will BT Multi-Manager Aus Shr WS provide?
BT Multi-Manager Aus Shr WS has a correlation coefficient of 0.99 and a beta of 0.0 when compared to the Domestic Equity - Large Cap Passive 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 BT Multi-Manager Aus Shr WS and its peer investments, you can click here for the Peer Investment Report.
How do I compare the BT Multi-Manager Aus Shr WS with the ASX Index 200 Index?
For a full quantitative report on BT Multi-Manager Aus Shr WS compared to the ASX Index 200 Index, you can click here.
Can I sort and compare the BT Multi-Manager Aus Shr WS to do my own analysis?
To sort and compare the BT Multi-Manager Aus Shr WS financial metrics, please refer to the table above.
Has the BT Multi-Manager Aus Shr WS 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.
How can I invest in BT Multi-Manager Aus Shr WS?
If you or your self managed super fund would like to invest in the BT Multi-Manager Aus Shr WS please contact 275 Kent Street Sydney, NSW 2000 Australia via phone 61-2-9259-3555 or via email -.
How do I get in contact with the BT Multi-Manager Aus Shr WS?
If you would like to get in contact with the BT Multi-Manager Aus Shr WS manager, please call 61-2-9259-3555.
Comments from SMSF Mates
SMSF Mate does not receive commissions or kickbacks from the BT Multi-Manager Aus Shr WS. All data and commentary for this fund is provided free of charge for our readers general information.
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