Performance - System Capital

Strategy Performance

Performance¹ as at 31 May 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	2.2	1.5	5.4	25.0	20.8	-	23.1

Historical Strategy Performance

Monthly Performance as at 31 May 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								6.7

Past performance is not a reliable indicator of future performance.
1. Source: Fidante. All returns are based on a zero-fee class F and assume distributions are reinvested. Investment is restricted for this class. No allowance is made for tax when calculating these figures.
** Returns include 4 days in Oct 2022 when the portfolio was still being established.

Performance Reports

April 2025

System Capital Monthly Report

March 2025

System Capital Monthly Report

December 2024

System Capital Monthly Report

September 2024

System Capital Monthly 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.