The Fund returned 0.64% over the month of November, delivered 2.00% for the previous three months and 9.14% over the past 12 months. The Net Asset Value (NAV) of the Fund, as at 30 November 2014, was $50.9 m2 and the redemption price was 1.3617023.
During the month, Laminar was awarded the 2014 Victorian Innovation in Funds Management Award. This is the third award Laminar has received for the Fund over the last two years after winning the Australia Hedge Fund Award and the Best Fixed Income and Credit Fund in 2013.
The recognition that the Fund has achieved is a function of not only its returns but also the consistency of those returns. In 2013, the Fund wasn’t the highest returning fund versus all Australian hedge funds, but it did have the best Sharpe ratio (the excess returns achieved by the Fund over the risk free rate, divided by the volatility of the returns).
The Fund’s Sharpe ratio over the last three years has been 3.4 (using BBSW as the risk free rate). This is roughly 10 times the 0.35 Sharpe ratio the ASX200 achieved over that period. And while general market volatility has been low in recent times, there is the expectation that it will rise in the future which means investors should focus more than ever on funds that achieve solid returns without the volatility.

Read more…