Strategy Performance

Performance¹ as at 30 June 2025 (before fees)

	1 Month (%)	3 Months (%)	6 Months (%)	1 Year (%)	2 Years (% p.a.)	3 Years (% p.a.)	Since Inception (% p.a.)
System Capital Long Short Fund	0.9	7.1	7.7	27.0	21.1	-	22.7

Historical Strategy Performance

Monthly Performance as at 30 June 2025 (before fees)

Year	Jan (%)	Feb (%)	Mar (%)	Apr (%)	May (%)	Jun (%)	Jul (%)	Aug (%)	Sep (%)	Oct (%)	Nov (%)	Dec (%)	YTD (%)
2022	-	-	-	-	-	-	-	-	-	-0.8	4.2	-3.5	-0.2
2023	8.5	-2.7	4.8	4.1	2.4	0.3	3.4	-3.0	-1.7	-1.7	9.3	3.5	29.7
2024	4.9	1.7	-0.2	-4.1	3.8	-0.7	4.2	5.2	5.1	-1.1	4.7	-1.2	24.2
2025	3.4	1.7	-4.4	3.8	2.2	0.9							7.7

Past performance is not a reliable indicator of future performance. Source: Fidante. Returns are based on zero-fee class F and assume distributions have been reinvested. Investment is restricted for this class. No allowance is made for tax when calculating these figures. **Returns include 4 days in Oct 2022 where the portfolio was still being established. Inception date: 26 Oct 2022. Performance is shown for information purposes only to provide a longer term view of the strategy’s performance.

Performance Reports

June 2025

System Capital Quarterly Report

May 2025

System Capital Monthly Report

April 2025

System Capital Monthly Report

March 2025

System Capital Quarterly Report

December 2024

System Capital Quarterly Report

September 2024

System Capital Quarterly Report

Disclosure Statement (PDS) and Target Market Determination (TMD) to ensure the key attributes of the Fund as described in the PDS and TMD aligns with your objectives, financial situation, and needs. These documents are available on the Our Fund page on this website.