By using a concentrated, selective, flexible approach we have been able to deliver superior long-term returns. As at January 31st 2018, DMX Capital Partners was 79.6% ahead of the All Ords after fees in the 2 years & 10 months since launch:
Correlation of returns: Due to our concentrated, value driven approach the returns we deliver are unlikely to be correlated with any particular index, benchmark or asset class in the short-term. Since the fund's launch there has been a low correlation between the fund's performance and market movements. As at January 31st 2018, the R squared (explanatory power) of this relationship since launch is only 21.9%. This reflects the fund's focus on under-valued, and often largely unknown smaller companies with favourable risk-reward ratios. The fund is well placed to contribute to improving a portfolio's risk-reward profile as a result.
As the table below shows, since launch the fund has performed well in absolute terms in all market conditions, with particularly strong relative performance in falling and flat equity markets:
AVERAGE MONTHLY NAV CHANGE%
RELATIVE TO ALL ORDS
FALLING MARKET MONTHS (13)
RISING MARKET MONTHS (15)
FLAT MARKET MONTHS (6)