Active Global Bond Complex ETF
Coolabah Active Global Bond Complex Etf (GFXD)
Daily Liquidity, Long Duration, Global Strategy
Overview
The Coolabah Active Global Bond Complex ETF (ASX: GFXD) targets returns in excess of the Bloomberg Global Aggregate Corporate Index (hedged to AUD) after management costs, by 1.0% to 2.0% per annum over rolling 3 year periods.
The Fund offers an active fixed-income strategy focused on mispricing in corporate bond markets with the aim of delivering superior risk-adjusted returns. The Fund has the ability to go long and short credit to profit from declining and increasing credit spreads.
The Fund offers fixed-rate bond exposure by matching its interest rate duration to that of the Index.
Coolabah adds-value by finding and exploiting bond mispricings in high grade credit markets that can generate capital gains or alpha in addition to the yield on these securities.
To find these mispricings, you need a very large team coupled with significant quantitative resources, which is why we have over 50 executives, across London, Miami, Sydney, Melbourne, and Auckland. It is also why we have built up to 40-50 proprietary quant valuation models in house and harnessed AI to help us in our search for mispricings.
Exploiting these mispricings to generate capital gains also requires a very active investment style. We are typically trading 50 to 100 times a day, on average $250-500 million per day.
Information on the unlisted Coolabah Active Global Bond Fund – Assisted Investor Class (APIR: ETL2586AU) can be viewed here.
Investments
The Coolabah Active Global Bond Fund provides exposure to a diversified portfolio of cash securities and bonds, including government bonds, bank bonds, corporate bonds, asset-backed securities including residential-mortgage backed securities, and hybrid securities issued in G10 currencies hedged back to AUD, with an average target credit rating of A. It cannot invest in equities, property, unrated securities, high yield bonds or sub-prime loans.
Applying a diverse array of quantitative asset pricing techniques, the portfolio managers add-value through very actively exploiting bond mispricings that seek to generate capital gains over and above the yield provided by the underlying fixed-income assets.
Risks
The Fund is not a bank deposit.
It is a managed investment scheme registered and regulated by the Australian Securities and Investments Commission (ASIC).
All investments carry risks, including that the value of investments may vary, future returns may differ from past returns, and that your capital is not guaranteed, which can be amplified by the use of leverage.
To understand the Fund’s risks better, please refer to the detailed “Risks” section in the PDS and to the Fund’s Target Market Determination (TMD)^.
The Coolabah Active Global Bond Complex ETF (ASX: GFXD) targets returns in excess of the Bloomberg Global Aggregate Corporate Index (hedged to AUD) after management costs, by 1.0% to 2.0% per annum over rolling 3 year periods.
The Fund offers an active fixed-income strategy focused on mispricing in corporate bond markets with the aim of delivering superior risk-adjusted returns. The Fund has the ability to go long and short credit to profit from declining and increasing credit spreads.
The Fund offers fixed-rate bond exposure by matching its interest rate duration to that of the Index.
Coolabah adds-value by finding and exploiting bond mispricings in high grade credit markets that can generate capital gains or alpha in addition to the yield on these securities.
To find these mispricings, you need a very large team coupled with significant quantitative resources, which is why we have over 47 executives, across Sydney, Melbourne, London and Auckland. It is also why we have built up to 40-50 proprietary quant valuation models in house and harnessed AI to help us in our search for mispricings.
Exploiting these mispricings to generate capital gains also requires a very active investment style. We are typically trading 50 to 100 times a day, on average $250-500 million per day.
Information on the unlisted Coolabah Active Global Bond Fund – Assisted Investor Class (APIR: ETL2586AU) can be viewed here.
GFXD provides exposure to a diversified portfolio of cash securities and bonds, including government bonds, bank bonds, corporate bonds, asset-backed securities including residential-mortgage backed securities, and hybrid securities issued in G10 currencies hedged back to AUD, with an average target credit rating of A. It cannot invest in equities, property, unrated securities, high yield bonds or sub-prime loans.
Applying a diverse array of quantitative asset pricing techniques, the portfolio managers add-value through very actively exploiting bond mispricings that seek to generate capital gains over and above the yield provided by the underlying fixed-income assets.
The Fund is not a bank deposit.
It is a managed investment scheme registered and regulated by the Australian Securities and Investments Commission (ASIC).
All investments carry risks, including that the value of investments may vary, future returns may differ from past returns, and that your capital is not guaranteed, which can be amplified by the use of leverage.
To understand the Fund’s risks better, please refer to the detailed “Risks” section in the PDS and to the Fund’s Target Market Determination (TMD)^.
Key Facts
| Name | Coolabah Active Global Bond Complex ETF |
| Exchange Ticker | GFXD |
| Exchange | Australian Securities Exchange (ASX) |
| ISIN | AU0000469959 |
| Investment Objective | Targets returns in excess of the Bloomberg Global Aggregate Corporate Bond Index by 1.0% to 2.0% per annum after fees. |
| Class Inception Date | 12-Jun-26 |
| Fund Inception Date | 23-Sep-24 |
| Management Costs | 0.69% |
| Performance Fee (%) | 20.5% of excess fund outperformance over the Benchmark, after management fees, subject to a high water mark. |
| Benchmark | Bloomberg Global Aggregate Corporate Bond Index |
| Distribution Frequency | Quarterly |
| Distribution Reinvestment Plan (DRP) | Full or partial participation available. |
| Issuer & Responsible Entity | Equity Trustees |
| Investment Manager | Coolabah Capital Investments (Retail) |
| Fund Administrator | Apex Fund Services |
| Registry | Apex Fund Services |
| Custodian | Citigroup |
| Auditor | Ersnt & Young |
Pricing Information
An indicative NAV per Unit (“iNAV”) will be published by the Fund throughout the Trading Day. The iNAV will be updated using a real time fair value methodology that seeks to ensure that the iNAV reflects movements in markets and currencies during the Trading Day.
The iNAV represents the best estimate by the Responsible Entity or its appointed agents of the value per unit in the Fund throughout the trading day. No assurance can be given that the iNAV will be published continuously or that it will be up to date or free from error. To the extent permitted by law, neither the Responsible Entity nor its appointed agent shall be liable to any person who relies on the iNAV. The price at which Units trade on the Securities Exchange may not reflect the NAV per Unit or the iNAV and may differ from the price received when applying for or redeeming with the Responsible Entity. Please refer to the Product Disclosure Statement for further details on this Risk.
| NAV/Unit (Interim)* | $30.1550 |
| Net Assets* ($AUD) | $25,041 |
| Units Outstanding * (#) | 833.3333 |
| NAV/Unit (Final)* | $30.0498 |
| ARSN | 676 577 670 |
| Exchange Code | GFXD |
| ISIN | AU0000469959 |
| Tradable | On ASX |
| Bloomberg Code | GFXD AU |
| Bloomberg iNAV Code | GFXDIV |
Performance
Coolabah Active Global Bond Fund – Assisted Investor Class ETL2586AU
| Period Ending 2026-05-31 | Gross Return | Net Return | Bloomberg Global Agg Corp Index (AUD Hedged) | Gross Excess Return | Net Excess Return |
|---|---|---|---|---|---|
| 1 month | 1.04% | 0.98% | 0.92% | 0.13% | 0.06% |
| 3 months | -0.17% | -0.35% | -0.53% | 0.37% | 0.18% |
| 6 months | 1.43% | 1.08% | 0.81% | 0.62% | 0.27% |
| 1 year | 7.04% | 6.26% | 5.24% | 1.80% | 1.03% |
| Inception pa Sep. 2024 | 4.68% | 3.99% | 3.27% | 1.42% | 0.72% |
The above table shows the returns of the Coolabah Active Global Bond Fund – Assisted Investor Class ETL2586AU since its inception on 23 September 2024. ETL2586AU is an equivalent class of the same Fund with identical management fees and costs. Past performance does not assure future returns. Returns for periods longer than one year are annualised.
Asset Allocation
Distributions
| Qtr Ending | Ex Date | Record Date | Payment Date | Distribution Unit ($) | DRP Price |
| 30-Jun-2026 | 1-Jul-2026 |
Disclaimer: Past performance does not assure future returns. Returns are shown after all fund fees, unless otherwise stated. Retail product fees can vary depending on the unit class selected and/or whether the financial advisory firm has negotiated access to lower cost unit classes.
Equity Trustees Limited (Equity Trustees) ABN 46 004 031 298 AFSL 240975, is the Responsible Entity for the Australian domiciled funds. Equity Trustees is a subsidiary of EQT Holdings Limited ABN 22 607 797 615, a publicly listed company on the Australian Securities Exchange (ASX: EQT).
This has been prepared by Coolabah Capital Investments (Retail) Pty Ltd ACN 153 555 867 (Coolabah), an authorised representative (#000414337) of Coolabah Capital Institutional Investments Pty Ltd ABN 85 605 806 059 AFSL 482238, to provide you with general information only. In preparing this publication, we did not take into account the investment objectives, financial situation or particular needs of any particular person. It is not intended to take the place of professional advice and you should not take action on specific issues in reliance on this information. The Product Disclosure Statement (PDS) for the Fund should be considered before deciding whether to acquire or hold units in it. A PDS for the Fund can be obtained by visiting www.coolabahcapital.com. Neither Coolabah, Equity Trustees nor any of their related parties, their employees or directors, provide any warranty of accuracy or reliability in relation to such information or accepts any liability to any person who relies on it. Past performance should not be taken as an indicator of future performance. The Fund is subject to investment risks, which could include delays in repayment and/or loss of income and capital invested.
^From 5 October 2021, a Target Market Determination (TMD) is required to be made available under the Design & Distribution Obligations. It describes who this financial product is likely to be appropriate for (i.e. the target market), and any conditions around how the product can be distributed to investors. It also describes the events or circumstances where the Target Market Determination for this financial product may need to be reviewed.
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