Elson Associates - Leaders, Laggards, Losers - Criteria

Criteria explained


Leaders
Funds in this category have the best record of consistently out-performing their sector peers over the past three years. To be a Leader, it must have produced a positive return relative to the sector average over each of the last three discrete years and show accumulative performance over those three years of at least 10% better than the sector average. For example, if the sector average accumulative performance over three years is 50%, to be a Leader, it has to have performed better than the sector average in each of the last three discrete years and achieved an overall accumulative performance in the last three years of at least 55% (50% x 110%).
Laggards
These funds are regularly under-performing. Their performance in each of the last three discrete years is worse than the sector average and the accumulative performance over three years is between -20% and -50% relative to the sector average. For example, if the sector average accumulative performance over three years is 50%, to be a Laggard it has to have performed worse than the sector average in each of the last three discrete years and achieved an overall accumulative performance in the last three years of between 25% and 40%.
Losers
These funds are consistently under-performing and by a significant margin over three years. Like the Laggards, their performance falls short of the sector average in each of the last three discrete years. The accumulative performance over three years, however, is even worse at over 50% below the sector average. For example, if the sector average accumulative performance over three years is 50%, to be a Loser it has to have performed worse than the sector average in each of the last three discrete years and achieved an overall accumulative performance in the last three years of worse than 25%.
Others
Funds in the 'Others' category haven't quite met the stringent criteria required to be a Leader, but at the same time their performance isn't poor enough to qualify as a 'Laggard' or a 'Loser'.
The 30 day measure
The criteria for Leaders Laggards and Losers is updated on a daily basis. The nature of fund performance, however, is such that a fund can quickly drop out of the Leaders category or improve its performance from one day to the next to escape being labelled a Loser. For this reason, we indicate each fund's categorisation going back over the past 30 days to provide evidence of the regularity or otherwise that a fund has appeared in any given category over a longer period than just a day.
Please note: 'Day 1' represents the fund's categorisation based on performance data received on the previous business day.
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Elson Associates does not offer advice as to the suitability of investments. If you are unsure whether an investment is suitable for you, you should obtain expert advice. Past performance of an investment is not necessarily a guide to its performance in the future. The value of investments or income from them may go down as well as up. You may not necessarily get back the amount you invested.

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