Atchison Active Real Assets SMA
31 August 2025
PORTFOLIO PERFORMANCE
The Atchison Active Real Assets SMA delivered 2.5% for the month, and 4.2% over the quarter.
Over the last 12 months, the Atchison Active Real Assets SMA delivered 6.9%, significantly beating Inflation by 5.0%.
Relative to the Peer Group (FE AMI Peer Average), Atchison Active Real Assets SMA has materially outperformed over the last 12 months.
All performance metrics listed above are net of appointed investment management fees but before tax. Where noted, the Since Inception date of this analysis is: 31 December 2022. All performance is based on daily asset returns using portfolio target weights. Where a portfolio target weight change has been input into the dataset, it is assumed to have been applied as at the end of day asset valuations.
Returns vs Benchmarks
Performance of $100,000 Investment
KEY CONTRIBUTORS, DETRACTORS & ATTRIBUTION
- On a weighted basis, the largest holding contributor to the portfolio outcome has been ERROR IDENTIFYING
- The holding that contributed the least to portfolio return was ERROR IDENTIFYING
- The current holding with the highest absolute return has been ERROR IDENTIFYING
- Whilst the current holding with the lowest absolute return has been ERROR IDENTIFYING
ERROR IDENTIFYING
ERROR IDENTIFYING
ERROR IDENTIFYING
ERROR IDENTIFYING
Daily Return Analysis
Portfolio Performance Heatmap - Latest Month
Portfolio Performance Heatmap - Latest Quarter
Portfolio Performance Heatmap - Latest 1 Year
Portfolio Performance Heatmap - Since Inception
Portfolio Performance Heatmap (Look Through) - Latest Quarter
Relative Portfolio Performance to SAA Benchmark Heatmap (Look Through) - Latest Quarter
Portfolio Performance Heatmap (Look Through) - Latest Month
Relative Portfolio Performance to SAA Benchmark Heatmap (Look Through) - Latest Month
Attribution Analysis of Asset Allocation vs Manager/Security Selection
Individual Returns of Underlying Manager/Security Holdings
PORTFOLIO CONSTRUCTION
Portfolio Construction - Look Through Exposures
Portfolio Construction - Manager Level
SENSITIVITY ANALYSIS
Inflation Sensitivity (Monthly Returns)
ASX Market Sensitivity (Monthly Returns)
US Market Sensitivity (Monthly Returns)
RISK ANALYSIS
Drawdown Periods & Recovery
Rolling 3yr Calmar Ratio - Return over Drawdown Risk
The below Calmar Ratio explains the return achieved relative to the drawdown risk taken. A higher Calmar Ratio indicates a more favorable risk-adjusted return for the investment
Rolling 3yr Tracking Error - Level of Relative Risk Being Taken
Rolling 3yr Batting Average - % of Months Outperforming Benchmark Return
90 Day Volatility
Risk Metrics
UNDERLYING SECTOR SLEEVE ANALYSIS
Please find below links to detail of underlying asset class sleeves:
MARKET OVERVIEW - August 2025
- August delivered broad gains across global equities and bonds, driven by actual and expected rate cuts.
- 9 of 11 S&P/ASX 200 sectors advanced, with Materials and Consumer Discretionary leading gains. Meanwhile Health Care fell 13% due to a CSL sell-off following its spinoff announcement. Information Technology remained under pressure.
- Value, Equal Weight, and High Dividend each rose 6%. Growth lagged as the weakest performer year-to-date.
- Chinese equities outperformed, as onshore markets rebounded and narrowed the gap with offshore stocks.
- U.S. equities recorded a fourth consecutive month of gains, with the S&P 500 rising 2% in August, despite a sharp final-day sell-off. Market sentiment was supported by optimism around potential Federal Reserve rate cuts and continued strength in Big Tech.
- The rally broadened across market segments, with mid- and small-cap stocks outperforming large caps.
- Most sectors posted positive returns, led by Materials and Health Care; Health Care recovered losses from July. Utilities was the only sector to decline.
- European equities gained for the month, extending their positive run for the quarter. Sector leaders were Health Care (+4%+) and Consumer Staples (+3%+). Information Technology, Utilities, and Industrials posted modest losses of under 2%, not enough to offset the index's overall gains.
- US fixed income indices all posted gains amid fluctuating yields and shifting rate expectations.
- The Reserve Bank of Australia and Reserve Bank of New Zealand each reduced key rates by 25bps.
- Commodities participated in the rally, led by Livestock. Precious Metals strengthened, with Gold reaching another record high, driven by renewed safe-haven demand.
HOW TO INVEST?
Our SMA strategies are currently available on the following platforms:
CONTACT US
Please reach out via phone or email below:
Email: enquiries@atchison.com.au
Phone: +61 3 9642 3835
Address (Melbourne): Level 4, 125 Flinders Lane Melbourne Victoria 3000 Australia
Address (Sydney): Level 3, 63 York Street, Sydney, NSW 2000 Australia
MODEL BENCHMARK ASSUMPTIONS
Performance Table
|
G1 |
Code |
Description |
| 0 |
Australian Shares |
BM_Rajomon_AE |
100% iShares Core S&P/ASX 200 ETF |
| 1 |
International Shares |
BM_Rajomon_IE |
85% Vanguard MSCI Index International Shares ETF + 15% iShares MSCI Emerging Markets ETF |
| 2 |
Real Assets |
BM_Rajomon_PS |
20% AMI Property - Australia Direct + 25% iShares Australian Listed Property ETF + 30% BlackRock iShares Global Listed Property Index (hedged) + 25% Vanguard Global Infrastructure Index ETF |
| 3 |
Alternatives |
BM_Rajomon_Alts |
100% iShares Core Cash ETF |
| 4 |
Long Duration |
BM_Rajomon_IS |
50% iShares Core Composite Bond ETF + 50% Vanguard International Fixed Income ETF |
| 5 |
Floating Rate |
BM_Rajomon_Credit |
100% VanEck Australian Floating Rate ETF |
| 6 |
Cash |
BM_Cash |
100% iShares Core Cash ETF |
FINE PRINT
Important Notice: This document is published by TAG Asset Consulting Group Pty Ltd, trading as Atchison Consultants, ABN 58 097 703 047, AFSL 230 846. Atchison Consultants distributes its investment solutions via platform and dealer groups (financial advisory groups).
Warning: Please be advised that past performance is not indicative of future performance. The returns discussed herein are based on model asset allocations and are for illustrative purposes only. Actual returns may differ due to variations in fees, timing of model change implementation, and the need to substitute individual holdings where reliable data was not available from our data providers. Any insights or recommendations provided in this document are intended for general advice purposes only and are based on our opinion of the investment merits of the financial products discussed, independent of the financial circumstances of any individual. Before proceeding with any investment based on the information provided, recipients must assess its suitability to their financial situation and consider seeking advice from an independent financial advisor.
Disclaimer: While care is taken to ensure the accuracy and completeness of the information presented herein, no warranties or representations are made as to its reliability. The content provided is derived from publicly available sources, or external data providers, which have not been independently verified by Atchison Consultants. Atchison Consultants, along with its directors, officers, employees, and agents, expressly disclaims any liability for errors, inaccuracies, or omissions in this document, as well as for any loss or damage that may arise from reliance on its contents. Readers are cautioned to verify all information independently before taking any actions based on this report.
