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Cordish Dixon Private Equity Fund II (CD2) Report & Performance

Home | LICs & LITs | Alternatives | Cordish Dixon Private Equity Fund II

What is the Cordish Dixon Private Equity Fund II fund?

Cordish Dixon Private Equity Fund II (CD2) is the second issue of a listed investment trust investing in a fund that invests in an underlying portfolio of boutique private equity funds in the US. Given the underlying funds are based in the US, investors will be subject to foreign exchange movements. CD2 does not intend to hedge the currency exposure but reserves the right to do so in the future.

  • The Fund will have a life of approximately ten years from the time the capital was fully committed with the underlying funds having five years to invest the capital and then five years to exit.
  • The Fund will return capital when the underlying funds exit their investments.
  • It seeks to provide Australian investors access to a portfolio of boutique US private equity investments, offering a family office style of investing, a style of investment typically not available to retail investors.
  • The Investment Manager focuses on those funds that have an established history of successful private equity investments.
  • The portfolio capital is fully committed across 12 investment funds, all focused on small- to-mid-market private investment opportunities.

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Growth of $1000 Investment Over Time

Performance Report

Peer Comparison Report

Peer Comparison Report

Product Snapshot

  • Product Overview
  • Performance Review
  • Peer Comparison
  • Product Details

Product Overview

Fund Name APIR Code
? A Product Code is unique a identifier code issued by a group or governing body, to reference products in a large group. For an example, APIR codes are commonly used for Funds and Ticker codes are commonly used for Securities such as ETFs and Stocks.
Structure
?
Asset Class
? An Asset Class breakdown provides the percentages of core asset classes found within a mutual fund, exchange-traded fund, or another portfolio. Asset classes (in microeconomics and beyond) generally refer to broad categories such as equities, fixed income, and commodities.
Asset Category
? An Asset Category is a grouping of investments that exhibit similar characteristics and are subject to the same laws and regulations. Asset categories (or a sub-asset class) are made up of instruments which often behave similarly to one another in the marketplace, looking down to the Asset Category level is important if looking to build a diversified portfolio.
 Peer Benchmark Name
? A Peer Index (benchmark) refers to a peer group of investment managers who have the same investment style or category. It is used to compare the performance of one manager to their peer group, which makes it simpler for investors to choose between the vast number of investment managers.
 Broad Market Index
? A Market Index (benchmark) refers to a hypothetical portfolio of investments that represents a segment, asset or category of an investable market. Market Indices are used to benchmark managers performance, to assist their style reliability and ability to provide excess returns.
 FUM
? Funds/Assets under management (AUM) is the total market value of the investments that a person or entity manages on behalf of clients. Assets under management definitions and formulas vary by company.
 Management Fee
? A management fee is a charge levied by an investment manager for managing an investment fund. The management fee is intended to compensate the managers for their time and expertise for selecting finanical products and managing the portfolio.
Performance Fee
? A performance fee is a payment made to an investment manager for generating positive returns. This is as opposed to a management fee, which is charged without regard to returns. A performance fee can be calculated many ways. Most common is as a percentage of investment profits, often both realized and unrealized. It is largely a feature of the hedge fund industry, where performance fees have made many hedge fund managers among the wealthiest people in the world.
 Spread
? A spread can have several meanings in finance. Basically, however, they all refer to the difference between two prices, rates or yields. In one of the most common definitions, the spread is the gap between the bid and the ask prices of a security or asset, like a stock, bond or commodity. This is known as a bid-ask spread.
Cordish Dixon Private Equity Fund IICD2LICs & LITsAlternativesSpecialistAlternatives - SpecialistCredit Suisse AllHedge Fund Index$81,405,3092.33%0.00%2.42%

Performance Review

Fund Name Last Month
? Returns after fees in the most recent (last) month).
3 Months Return
? Returns after fees in the most recent 3 months.
1 Year Return
? Trailing 12 month returns.
 3 Years Average Return
? Average Annual returns from the last 3 years.
 Since Inc. Average Return
? Average (annualised) returns since inception
 1 Year Std. Dev. (Annual)
? The standard deviation (or annual volatility) of the last 12 months.
 3 Years Std. Dev. (Annual)
? The average standard deviation (or annual volatility) from the last 3 years.
Since Inc. Std. Dev. (Annual)
? The average standard deviation (or annual volatility) since the fund inception.
 1 Year Max Drawdown
? The maximum drawdown in the last 12 months - a drawdown is a peak-to-trough decline during a specific period for an investment, trading account, or fund.
 3 Year Max Drawdown
? The maximum drawdown in the last 36 months - a drawdown is a peak-to-trough decline during a specific period for an investment, trading account, or fund.
 Since Inc. Max Drawdown
? The maximum drawdown since inception - a drawdown is a peak-to-trough decline during a specific period for an investment, trading account, or fund.
Cordish Dixon Private Equity Fund II1.11%-4.39%-15%3.03%5.85%11.14%25.21%27.77%-15.93%-26.16%-58.23%

Peer Comparison

Fund Name Peer Index Name
? A group of individuals who share similar characteristics and interests are called peer groups. Peer group analysis is an essential part of assessing a price for a particular stock in investment research. The emphasis here is on making a comparison, meaning that the peer group constituents should be more or less identical to the company being examined, especially in terms of their main business and market capitalization areas.
 12 Months Excess Return
? Excess returns are an important metric that helps an investor to gauge performance in comparison to other investment alternatives. In general, all investors hope for positive excess return because it provides an investor with more money than they could have achieved by investing elsewhere.
 Excess Return Annualised Since Inception
? Excess returns are an important metric that helps an investor to gauge performance in comparison to other investment alternatives. In general, all investors hope for positive excess return because it provides an investor with more money than they could have achieved by investing elsewhere.
 12 Months Alpha
? Alpha is used in finance as a measure of performance, indicating when a strategy, trader, or portfolio manager has managed to beat the market return over 12 months. Alpha, often considered the active return on an investment, gauges the performance of an investment against a market index or benchmark that is considered to represent the market’s movement as a whole.
Alpha Annualised Since Inception
? Alpha is used in finance as a measure of performance, indicating when a strategy, trader, or portfolio manager has managed to beat the market annualized since inception. Alpha, often considered the active return on an investment, gauges the performance of an investment against a market index or benchmark that is considered to represent the market’s movement as a whole.
12 Months Beta
? Rolling 12Month Beta is a measure of the volatility—or systematic risk—of a security or portfolio compared to the market as a whole. Beta is used in the capital asset pricing model (CAPM), which describes the relationship between systematic risk and expected return for assets (usually stocks).
Beta Annualised Since Inception
? Beta is a measure of the volatility—or systematic risk—of a security or portfolio compared to the market as a whole. Beta is used in the capital asset pricing model (CAPM), which describes the relationship between systematic risk and expected return for assets (usually stocks).
 12 Months Tracking Error
? 12Month Tracking error is the difference in actual performance between a position (usually an entire portfolio) and its corresponding benchmark over the last 12 months. The tracking error can be viewed as an indicator of how actively a fund is managed and its corresponding risk level. Evaluating a past tracking error of a portfolio manager may provide insight into the level of benchmark risk control the manager may demonstrate in the future.
Tracking Error Since Inception
? Since Inception tracking error is the difference in actual performance between a position (usually an entire portfolio) and its corresponding benchmark since inception. The tracking error can be viewed as an indicator of how actively a fund is managed and its corresponding risk level. Evaluating a past tracking error of a portfolio manager may provide insight into the level of benchmark risk control the manager may demonstrate in the future.
12 Months Correlation
? Correlation, in the finance and investment industries, is a statistic that measures the degree to which two securities move in relation to each other. Correlations are used in advanced portfolio management, computed as the correlation coefficient, which has a value that must fall between -1.0 and +1.0.
 Correlation Since Inception
? Correlation, in the finance and investment industries, is a statistic that measures the degree to which two securities move in relation to each other. Correlations are used in advanced portfolio management, computed as the correlation coefficient, which has a value that must fall between -1.0 and +1.0.
Cordish Dixon Private Equity Fund IIAlternatives - Specialist-10.59%-0.24%NA%NA%NA%-0.2218.57%27.6%-0.230.38

Product Details

Fund Name Verifed by SMSF Mates Manager Address Phone Website Email
Cordish Dixon Private Equity Fund IIYesLevel 15, 100 Pacific Highway North Sydney New South Wales 2060 Australia1300 883 158https://cdfunds.com.au/-

Product Due Diligence

What is Cordish Dixon Private Equity Fund II

Cordish Dixon Private Equity Fund II is an LICs & LITs investment product that is benchmarked against Credit Suisse AllHedge Fund Index and sits inside the Alternatives - Specialist. 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 Cordish Dixon Private Equity Fund II has Assets Under Management of $81,405,309 with a management fee of 2.33%, a performance fee of 0.00% and a buy/sell spread fee of 2.42%.

How has the investment product performed recently?

The recent investment performance of the investment product shows that the Cordish Dixon Private Equity Fund II has returned 1.11% in the last month. The previous three years have returned 3.03% annualised and 27.77% each year since inception, which is when the Cordish Dixon Private Equity Fund II 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 Cordish Dixon Private Equity Fund II first started, the Sharpe ratio is NA with an annualised volatility of 27.77%. The maximum drawdown of the investment product in the last 12 months is -15.93% and -58.23% 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 Cordish Dixon Private Equity Fund II has a 12-month excess return when compared to the Alternatives - Specialist of -10.59% and -0.24% 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. Cordish Dixon Private Equity Fund II has produced Alpha over the Alternatives - Specialist 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 Alternatives - Specialist category, you can click here for the Peer Investment Report.

What level of diversification will Cordish Dixon Private Equity Fund II provide?

Cordish Dixon Private Equity Fund II has a correlation coefficient of 0.38 and a beta of -0.22 when compared to the Alternatives - Specialist. 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 Cordish Dixon Private Equity Fund II and its peer investments, you can click here for the Peer Investment Report.

How do I compare the Cordish Dixon Private Equity Fund II with the Credit Suisse AllHedge Fund Index?

For a full quantitative report on Cordish Dixon Private Equity Fund II compared to the Credit Suisse AllHedge Fund Index, you can click here.

Can I sort and compare the Cordish Dixon Private Equity Fund II to do my own analysis?

To sort and compare the Cordish Dixon Private Equity Fund II financial metrics, please refer to the table above.

Has the Cordish Dixon Private Equity Fund II 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 Cordish Dixon Private Equity Fund II?

If you or your self managed super fund would like to invest in the Cordish Dixon Private Equity Fund II please contact Level 15, 100 Pacific Highway North Sydney New South Wales 2060 Australia via phone 1300 883 158 or via email .

How do I get in contact with the Cordish Dixon Private Equity Fund II?

If you would like to get in contact with the Cordish Dixon Private Equity Fund II manager, please call 1300 883 158.

Comments from SMSF Mates

SMSF Mate does not receive commissions or kickbacks from the Cordish Dixon Private Equity Fund II. All data and commentary for this fund is provided free of charge for our readers general information.

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