Cumulative Returns - Since Inception
Best Ideas – Market Timing: 14.26%
BIMT Benchmark - 70% SPDR S&P 500 ETF (SPY) and 30% SPDRS Bloomberg Barclays 1-3m Bill ETF (BIL): 14.20%
Top and Bottom Five Contributors – Since Inception
Past performance is not a guide to future performance, future returns are not guaranteed, and a loss of original capital may occur.
Figures are current as at 29th February 2020.
Performance is AUD unhedged.
Figures are NET of investment management fees (0.75% +GST) and GROSS of performance fees (10% of the net-of-fee return above the 12-month average Moodys Seasoned US Corporate Baa Yield + 0.75%).
Returns are based on a composite of all client accounts invested in the Best Ideas Market Timing strategy.
Inception date for the Best Ideas Market Timing investment strategy is 11/4/2019.
All figures are calculated by Interactive Brokers LLC.
Benchmark returns are converted into AUD using monthly exchange rate data from Interactive Brokers LLC and the Federal Reserve Economic Data website: https://fred.stlouisfed.org/ .
Best Ideas Market Timing uses an asset allocation framework to vary the allocation to stocks around a 70% S&P 500, 30% US Short-Term Treasury benchmark.
The portfolio ended the month with 36% invested in stocks, 48% in cash and short-term treasuries, and 16% in long-term Treasuries.
Framework allocations are currently 50% stocks, 45% cash and short-term US treasuries and 15% long-term US Treasuries (as at 29/02/2020).
Current positioning reflects a cautious view on US stocks. Here’s a summary of our asset allocation framework as at the 29/02, 31/1 and 31/12.
The user's guide to our Asset Allocation Framework can be found HERE