The Fiducian India Fund aims to provide investors with the opportunity to invest in a well-diversified range of companies listed on Indian stock exchanges. It is managed by carefully selected Indian fund managers who are based in India and have satisfied Fiducian’s selection criteria. This Fund gives investors the opportunity to invest in an economy that has been one of the fastest growing in the world in recent years.
The Fiducian India Fund gained 3.8% in August, which was above the 1.1% return for the index (in Australian dollar terms). Over the last 12 months the Fund has gained 11.6%, compared to the index return of 9.7%. Large cap managers Tata (+17.3%) and SBI (+16.3%) have been the top performers over the last year.
The top stock contributors for the month included restaurant platform Zomato, Chemplast Sanmar and Persistent Systems. The main detractors were in the banking sector and included HDFC Bank, State Bank of India and ICICI Bank.
The most significant sector tilts in the Fund remain overweight positons in the Industrials and Financials sectors, which are set to benefit from the strong anticipated growth in the domestic economy, and underweight positions in the IT and telecommunications sectors, where underlying fund managers are broadly expecting a less positive growth outlook relative to other parts of the market, along with the more volatile resources sector. Companies with exposure to the capital spending cycle, as well as the manufacturing sector are also expected to perform strongly in the medium term.
What is Fiducian India Fiducian India is an Managed Funds investment product that is benchmarked against Developed -World Index and sits inside the Foreign Equity - Other 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 Fiducian India has Assets Under Management of 72.30 M with a management fee of 1.54%, a performance fee of 0.00% and a buy/sell spread fee of 0.6%.
How has the investment product performed recently? The recent investment performance of the investment product shows that the Fiducian India has returned -0.38% in the last month. The previous three years have returned 9.59% annualised and 19.79% each year since inception, which is when the Fiducian India 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 Fiducian India first started, the Sharpe ratio is NA with an annualised volatility of 19.79%. The maximum drawdown of the investment product in the last 12 months is -3.63% and -48.8% 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 Fiducian India has a 12-month excess return when compared to the Foreign Equity - Other Index of -2.58% and 0.29% 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. Fiducian India has produced Alpha over the Foreign Equity - Other 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 Foreign Equity - Other Index category, you can click here for the Peer Investment Report.
What level of diversification will Fiducian India provide? Fiducian India has a correlation coefficient of 0.67 and a beta of 0.59 when compared to the Foreign Equity - Other 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 Fiducian India and its peer investments, you can click here for the Peer Investment Report.
How do I compare the Fiducian India with the Developed -World Index? For a full quantitative report on Fiducian India compared to the Developed -World Index, you can click here.
Can I sort and compare the Fiducian India to do my own analysis? To sort and compare the Fiducian India financial metrics, please refer to the table above.
Has the Fiducian India 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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Comments from SMSF Mates SMSF Mate does not receive commissions or kickbacks from the Fiducian India. All data and commentary for this fund is provided free of charge for our readers general information.
Performance Commentary - August 31, 2023 The Fiducian India Fund gained 3.8% in August, which was above the 1.1% return for the index (in Australian dollar terms). Over the last 12 months the Fund has gained 11.6%, compared to the index return of 9.7%. Large cap managers Tata (+17.3%) and SBI (+16.3%) have been the top performers over the last year.
The top stock contributors for the month included restaurant platform Zomato, Chemplast Sanmar and Persistent Systems. The main detractors were in the banking sector and included HDFC Bank, State Bank of India and ICICI Bank.
The most significant sector tilts in the Fund remain overweight positons in the Industrials and Financials sectors, which are set to benefit from the strong anticipated growth in the domestic economy, and underweight positions in the IT and telecommunications sectaors, where underlying fund managers are broadly expecting a less positive growth outlook relative to other parts of the market, along with the more volatile resources sector.
Companies with exposure to the capital spending cycle, as well as the manufacturing sector are also expected to perform strongly in the medium term.
Performance Commentary - July 31, 2023 The Fiducian India Fund gained 0.6% in July, which was below the 2.0% return for the index (in Australian dollar terms). Over the last 12 months the Fund has gained 14.6%, compared to the index return of 14.9%. Large cap managers SBI (+20.9%) and Tata (+19.3%) have been the top performers over the last year.
The top stock contributors for the month included hospital operator Rainbow Children’s Medicare, ICICI bank, and restaurant platform Zomato. The main detractors were chemical company PI industries and HDFC Bank.
The most significant sector tilts in the Fund remain overweight positons in the Industrials and Financials sectors, which are set to benefit from the strong anticipated growth in the domestic economy, and underweight positions in the IT and telecommunications sectors, where underlying fund managers are broadly expecting a less positive growth outlook relative to other parts of the market, along with the more volatile resources sector. Companies with exposure to the capital spending cycle, as well as the manufacturing sector are also expected to perform strongly in the medium term.
Performance Commentary - June 30, 2023 The Fiducian India Fund gained 1.9% in June, which was above the 1.7% return for the index (in Australian dollar terms). Over the last 12 months the Fund has gained 22.8%, compared to the index return of 21.3%. Large cap managers SBI (+26.5%) and Tata (+26.1%) have been the top performers over the last year.
The top stock contributors for the month included Axis Bank, jewelry manufacturer Titan Co, and diversified conglomerate L&T India. There were no major detractors, with Navin Fluorine and SRF Limited lower for the month.
The most significant sector tilts in the Fund remain overweight positons in the Industrials and Financials sectors, which are set to benefit from the strong anticipated growth in the domestic economy, and underweight positions in the IT and telecommunications sectors, where underlying fund managers are broadly expecting a less positive growth outlook relative to other parts of the market, along with the more volatile resources sector. Companies with exposure to the capital spending cycle, as well as the manufacturing sector are also expected to perform strongly in the medium term.
Performance Commentary - May 31, 2023 The Fiducian India Fund gained 5.9% in May, which was above the 3.6% return for the index (in Australian dollar terms). Over the last 12 months the Fund has gained 16.9%, compared to the index return of 15.3%. Large cap managers Tata (+22.1%) and SBI (+21.6%) have been the top performers over the last year.
The top stock contributors for the month included Cholamandalam Investment, PVC pipe manufacturer Astral, and hospital operator Rainbow Children’s Medicare. The main detractors were in the banking sector, including HDFC bank and City Union Bank.
The most significant sector tilts in the Fund remain overweight positons in the Industrials and Financials sectors, which are set to benefit from the strong anticipated growth in the domestic economy, and underweight positions in the IT and telecommunications sectors, where underlying fund managers are broadly expecting a less positive growth outlook relative to other parts of the market, along with the more volatile resources sector. Companies with exposure to the capital spending cycle, as well as the manufacturing sector are also expected to perform strongly in the medium term.
Performance Commentary - April 30, 2023 The Fiducian India Fund gained 6.6% in April, which was above the 5.8% return for the index (in Australian dollar terms). Over the last 12 months the Fund has gained 1.9%, compared to the index return of 3.8%. Large cap managers Tata (+11.6%) and SBI (+9.8%) have been the top performers over the last year.
The top stock contributors for the month included food delivery and restaurant services business Zomato, industrial company Navin Fluorine and AU Small Finance Bank. Detractors included IT consulting business Infosys and consumer products company Hindustan Unilever.
The most significant sector tilts in the Fund remain overweight positons in the Industrials and Financials sectors, which are set to benefit from the strong anticipated growth in the domestic economy, and underweight positions in the IT and telecommunications sectors, where underlying fund managers are broadly expecting a less positive growth outlook relative to other parts of the market, along with the more volatile resources sector. Companies with exposure to the capital spending cycle, as well as the manufacturing sector are also expected to perform strongly in the medium term.
Performance Commentary - March 31, 2023 The Fiducian India Fund gained 0.8% in March, which was below the 1.6% return for the index (in Australian dollar terms). Over the last 12 months the Fund has declined by 1.2%, compared to the index return of 2.1%. Large cap managers Tata (+10.2%) and SBI (+7.5%) have been the top performers over the last year.
The top stock contributors for the month included accessories manufacturer Titan Co and chemical conglomerate SRF Limited. Detractors included PVC pipe manufacturer Astral and air conditioning company Johnson Controls.
The most significant sector tilts in the Fund remain overweight positons in the Industrials and Financials sectors, which are set to benefit from the strong anticipated growth in the domestic economy, and underweight positions in the IT and telecommunications sectors, where underlying fund managers are broadly expecting a less positive growth outlook relative to other parts of the market, along with the more volatile resources sector.
Companies with exposure to the capital spending cycle, as well as the manufacturing sector are also expected to perform strongly in the medium term.
Performance Commentary - February 28, 2023 The Fiducian India Fund gained 2.3% in February, which was above the 1.4% return for the index (in Australian dollar terms). Over the last 12 months the Fund has declined by 2.3%, compared to the index return of 0.9%. Large cap managers Tata (+8.7%) and SBI (+6.1%) have been the top performers over the last year.
The top stock contributors for the month were Berger Paints, Navin Fluorine and Zomato. The main detractors for the month were City Union Bank, Vmart Retail and Chemplast Sanmar.
The most significant sector tilts in the Fund remain overweight positons in the Industrials and Financials sectors, which are set to benefit from the strong anticipated growth in the domestic economy, and underweight positions in the IT and telecommunications sectors, where underlying fund managers are broadly expecting a less positive growth outlook relative to other parts of the market, along with the more volatile resources sector. Companies with exposure to the capital spending cycle, as well as the manufacturing sector are also expected to perform strongly in the medium term.
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