“A practitioner is not judged by the rigour of his logic or by the elegance of his presentation. He is judged by results. “
Dr Goh Keng Swee
AVF vs Indices
Fund Performance Summary
AVF* | Hang Seng | STI ** | |
2024 (Oct) | 11.8% | 19.2% | 9.8% |
2023 | 3.2% | -13.8% | 1.1% |
2022 | -7.0% | -15.5% | 4.8% |
2021 | 16.5% | -14.1% | 7.7% |
2020 | 12.5% | -3.4% | -10.2% |
2019 | 10.9% | 9.1% | 6.3% |
2018 | -4.9% | -13.6% | -11.6% |
2017 | 16.5% | 36.0% | 27.9% |
2016 | 7.0% | 0.4% | -2.3% |
2015 (May-Dec) |
-1.8% | -22.1% | -22.6% |
Since launch (May 2015) |
81.4% | -27.8% | 2.2% |
Outperform since launch | 109.2% | 79.1% | |
CAGR*** | 6.5% | -3.4% | -0.2% |
*Returns are net of all fees
**Straits Times Index was rebased to USD using the month-end exchange rate
***Compound Annual Growth Rate
Monthly Performance
Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | YTD | |
2024 | -4.4% | 4.3% | 1.0% | 3.5% | 3.5% | -2.0% | -1.5% | -0.4% | 11.1% | -2.9% | 11.8% | ||
2023 | 10.4% | -5.0% | 0.8% | 0.5% | -3.8% | 2.3% | 5.0% | -4.1% | -1.1% | -3.8% | 0.1% | 2.8% | 3.2% |
2022 | 1.7% | -0.4% | -3.4% | -1.6% | -1.4% | 0.2% | -4.7% | -0.5% | -10.7% | -8.3% | 16.1% | 8.7% | -7.0% |
2021 | 0.7% | 7.3% | 1.3% | 6.9% | 7.8% | -0.9% | -3.3% | -0.1% | 0.02% | 0.1% | -3.8% | 0.2% | 16.5% |
2020 | -2.3% | -1.7% | -13.5% | 5.2% | -0.5% | 6.8% | 7.0% | 4.2% | -1.6% | 0.5% | 7.6% | 2.2% | 12.5% |
2019 | 2.9% | 6.5% | 3.0% | 0.1% | -2.8% | 2.6% | 0.9% | -4.4% | 0.8% | -0.1% | -1.0% | 2.3% | 10.9% |
2018 | 2.8% | -2.6% | 0.1% | 0.0% | 5.8% | -2.9% | -0.7% | -4.3% | -0.9% | -6.6% | 5.1% | 0.1% | -4.9% |
2017 | 3.1% | 1.7% | 3.3% | 4.0% | 0.2% | 0.2% | 1.7% | -1.3% | 1.4% | 2.3% | -2.4% | 1.4% | 16.5% |
2016 | -7.0% | 1.6% | 4.9% | 3.4% | 0.3% | -4.1% | 3.9% | 3.7% | 3.1% | -0.6% | -0.1% | -1.6% | 7.0% |
2015 | -0.3% | -0.2% | 1.3% | -7.0% | 0.4% | 4.6% | 1.0% | -1.4% | -1.8% |
Monthly NAV
Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
2024 | 155.1 | 161.8 | 163.4 | 169.2 | 175.0 | 171.5 | 168.8 | 168.1 | 186.8 | 181.4 | ||
2023 | 173.6 | 164.9 | 166.2 | 167.0 | 160.7 | 164.5 | 172.8 | 165.7 | 163.9 | 157.6 | 157.7 | 162.2 |
2022 | 171.9 | 171.1 | 165.2 | 162.5 | 160.3 | 160.6 | 153.1 | 152.4 | 136.1 | 124.7 | 144.7 | 157.3 |
2021 | 146.2 | 156.9 | 158.9 | 169.9 | 183.2 | 181.5 | 175.5 | 175.3 | 175.3 | 175.4 | 168.8 | 169.1 |
2020 | 126.1 | 123.9 | 107.2 | 112.8 | 112.2 | 119.9 | 128.2 | 133.6 | 131.4 | 132.0 | 142.1 | 145.2 |
2019 | 119.8 | 127.6 | 131.5 | 131.6 | 127.9 | 131.2 | 132.4 | 126.5 | 127.5 | 127.4 | 126.2 | 129.1 |
2018 | 125.9 | 122.5 | 122.6 | 122.6 | 129.7 | 125.8 | 125.0 | 119.6 | 118.5 | 110.7 | 116.3 | 116.4 |
2017 | 108.4 | 110.2 | 113.8 | 118.3 | 118.5 | 118.8 | 120.8 | 119.2 | 120.9 | 123.6 | 120.7 | 122.4 |
2016 | 91.3 | 92.8 | 97.3 | 100.6 | 100.9 | 96.8 | 100.6 | 104.3 | 107.5 | 106.9 | 106.8 | 105.1 |
2015 | 100.0 | 99.7 | 99.6 | 100.9 | 93.8 | 94.2 | 98.6 | 99.6 | 98.2 |