ASX Event Portfolio: Performance Update

Last update - 26 February 2024 By Rivkin

ASX Event Performance

The Event Portfolio differs from our other portfolios, in that it is not a fully invested portfolio, meaning showing performance as an overall portfolio is less relevant.
Opportunities, such as takeover arbitrage, are based on the market environment at the time, meaning there are times when we are holding many positions at the same time, and others when we are holding very few. As such, it can be misleading to show percent returns based on an entire portfolio, as the levels of cash differ throughout time. However, it is important to understand the long-term performance and success rate of the Event Portfolio to determine if investing is the right decision for you.
Over the last six years, there have been an average of roughly eleven Event investments per annum, with 83% of those investments returning a profit and an average return per investment of 5.67%. Additionally, the average holding time per investment was 102 days or just over three months.

 

Trade Stats

All stats are for closed trades since the 1st of January 2016.
2016 2017 2018 2019 2020 2021 2022 2023* 2016-2023
Total Number of Trades 11 6 13 13 16 12 19 7 98
Win Ratio 64% 83% 85% 54% 88% 100% 100% 86% 84%
Average Days in a Trade 78 88 123 78 118 107 140 110 121
Average Return per Trade 3.09% 2.38% 5.94% 1.36% 5.15% 12.86% 6.93% 5.22% 6.0%
2016 2017 2018 2019 2020 2021 2022 2023
Worst Trade -7.77% -0.55% -4.26% -3.03% -79.15% 1.30% 0% -0.36%
Best Trade 18.67% 7.14% 21.72% 14.77% 69.42% 39.70% 26.10% 18.42%

*Partial year

Distribution of Returns

Across the years:
  • 11% of the trades resulted in a loss greater than 1%
  • 78% of the trades resulted in a profit that is greater than 1%
  • 24% of the trades resulted in a profit greater than 10%

This long tail in profitable trades is the reason this portfolio has one of the best risk-adjusted returns, within our portfolios.

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