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Short Term Income Strategy

Targets daily liquidity returns in excess of the RBA cash rate plus 1.5% to 3.0% pa net of fees with near-zero interest rate duration risk and an average A rating

Coolabah Short Term Income Fund

RBA Cash Plus 1.5% to 3.0% PA Strategy

Overview

The Coolabah Short Term Income Fund harnesses CCI’s extensive management team to actively exploit mispricings in cash and bond markets to generate daily liquidity returns that exceed a target of the RBA cash rate plus 1.5% to 3.0% pa after all fees with an average A credit rating and near-zero interest rate duration risk. 

It is a daily liquidity solution that invests in cash and fixed-income assets that are hedged to a floating-rate (ie, not fixed-rate) exposure that means it has near-zero interest rate (duration) risk. 

It cannot use leverage. It is typically placed in the “short duration fixed-interest” (credit) or “cash-enhanced” universes.

This strategy was previously known as the Smarter Money Higher Income Fund, however was renamed the Coolabah Short Term Income Fund in September 2023 to coincide with the quotation of FRNS on the Cboe Australia securities exchange. You can access more information on the quoted class here.

Investments

The Fund actively invests in a portfolio of Australian cash securities and bonds with a target dollar-weighted average credit rating in the “A” band. It does not invest in fixed-rate bonds (unless interest rate risk is hedged out) or equities and is not permitted to use leverage. 

Applying a diverse array of quantitative asset pricing techniques, Coolabah add-value through 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.

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)^.

Ratings

The Fund is listed on numerous investment platforms.

It is also rated by many researchers, including Atchison, Foresight Analytics, Lonsec, Mercer and Zenith.

Please read more about the ratings and disclaimers here and contact us for a copy of the Lonsec and Zenith reports.

Quantitative

SMHI has been awarded a 4 Crown Rating by FE Fundinfo.

Qualitative

The Coolabah Short Term Income Fund harnesses CCI’s extensive management team to actively exploit mispricings in cash and bond markets to generate daily liquidity returns that exceed a target of the RBA cash rate plus 1.5% to 3.0% pa after all fees with an average A credit rating and near-zero interest rate duration risk. 

It is a daily liquidity solution that invests in cash and fixed-income assets that are hedged to a floating-rate (ie, not fixed-rate) exposure that means it has near-zero interest rate (duration) risk. 

It cannot use leverage. It is typically placed in the “short duration fixed-interest” (credit) or “cash-enhanced” universes.

This strategy was previously known as the Smarter Money Higher Income Fund, however was renamed the Coolabah Short Term Income Fund in September 2023 to coincide with the quotation of FRNS on the Cboe Australia securities exchange. You can access more information on the quoted unit class here.

The Fund actively invests in a portfolio of Australian cash securities and bonds with a target dollar-weighted average credit rating in the “A” band. It does not invest in fixed-rate bonds (unless interest rate risk is hedged out) or equities and is not permitted to use leverage. 

Applying a diverse array of quantitative asset pricing techniques, Coolabah add-value through 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.

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 Fund is listed on numerous investment platforms.

It is also rated by many researchers, including Atchison, Foresight Analytics, Lonsec, Mercer and Zenith.

Please read more about the ratings and disclaimers here and contact us for a copy of the Lonsec and Zenith reports.

Key Facts

NameCoolabah Short Term Income Fund
ARSN601 093 485
Investment ObjectiveTargets returns in excess of the RBA cash rate plus 1.5% to 3.0% after Management Costs
Inception Date08-Oct-14
ApplicationsDaily
WithdrawalsDaily (T+3)
Distribution FrequencyQuarterly
Distribution MethodReinvestment or paid out available
Issuer & Responsible EntityEquity Trustees
Investment ManagerCoolabah Capital Investments (Retail)
Fund AdministratorApex Fund Services
RegistryApex Fund Services
CustodianApex Fund Services
AuditorErnst & Young
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Pricing Information

ClassAssisted Investor Class
APIR CodeSLT0052AU
ISINAU60SLT00527
TradableDirectly with the Responsible Entity
mFundSMF02
Management Costs0.69% p.a.
Performance Fee (%)22.5% of excess fund performance over the Benchmark subject to a high water mark.
BenchmarkRBA cash rate plus 1.50% plus Management Costs
Minimum Investment$1,000
Additional Investment$1,000
Minimum Balance$1,000
Saving PlanMonthly
Savings Plan Minimum$100
Buy Spread0.000%
Sell Spread*0.025%
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Distributions

Distribution Per Unit ($)

Quarter EndingAssisted Investor ClassDirect Investor ClassInstitutional Class ABase FeeUSD Investor Class
APIR Code SLT0052AUSLT0051AUSLT7141AUETL8504AUETL3997AU
30-Jun-240.015551770.012350240.015746080.01966167 0.01915967
31-Mar-240.01450.01450.01450.01450.01250639
31-Dec-230.0120.0120.0120.0120.012
30-Sep-230.010.010.010.010.014
30-Jun-230.01150.01150.013603170.01150.15304470
31-Mar-230.0090.0090.0090.009-
30-Dec-220.00650.00650.00650.0065-
30-Sep-220.0050.0050.0050.005-
30-Jun-220.0020.0020.0020.0020.0056
31-Mar-22 0.0022 0.00220.00220.0022 -
31-Dec-21 0.002 0.002 0.0020.002 -
30-Sep-21 0.002 0.002 0.0020.002 -
30-Jun-21 0.00836584 0.00811482 0.009750790.00830.00270747
31-Mar-21 0.00553333 0.00571063 0.007127560.0055-
31-Dec-20 0.007 0.007 0.010.007-
30-Sep-20 0.009 0.009 0.0090.009-
30-Jun-20 0.004 0.004 0.0040.004-
31-Mar-20 0.00497766 0.00665759 0.00075680.0049 -
31-Dec-19 0.004 0.004 0.00734420.004-
30-Sep-19 0.0042 0.0042 -0.0042-
30-Jun-19 0.0068 0.0068 -0.0068-
31-Mar-19 0.0075 0.0075 -0-
31-Dec-18 0.0075 0.0075-0.0075-
30-Sep-18 0.0075 0.0075 -0-
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Platform Availability

PlatformAssisted Investor ClassManaged Fund Class
APIR CodeSLT0052AUFRNS
ASX/CboeNoYes
AMP NorthNoYes
Australian Money MarketYesNo
BeaconNoNo
BT AsgardNoPending
BT PanoramaYesPending
Credit SuisseYesYes
CrestoneYesYes
DiversaYesNo
FirstWrapYesPending
Hub24YesYes
IOOF PursuitNoPending
Key InvestNoNo
Macquarie WrapYesPending
mFundsYesNo
Mason StevensYesYes
MLC NavigatorYesPending
MLC WrapYesPending
Morgan StanleyYesNo
NetwealthYesPending
OneVueYesYes
Perpetual WealthFocusNoNo
PowerwrapYesYes
PraemiumYesYes
UBSNoNo
uXchangeYesYes
Wilsons AdvisoryYesNo
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Frequently Asked Questions

How do I invest in the Coolabah Short Term Income Fund?
To invest via the Securities Exchange – You can buy and sell units in the Fund through your online share trading platform, your stockbroker or your financial adviser using mFund. Please read the PDS, as certain functionality may be limited.
 
To invest via the responsible entity – You can apply online here
How do I withdraw my investment from the Fund?

Complete a withdrawal request form and submit it to the responsible entity (RE). Further instructions are on the form.

If you have a Holder Identification Number (HIN) or invested through mFund, you will need to submit your instruction with the assistance of your stockbroker or online trading platform.

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 Smarter Money Fund (SMF), the Coolabha Short Term Income Fund, Smarter Money Long-Short Credit Fund (LSCF), Coolabah Long-Short Opportunities Fund (LSOP), the Coolabah Floating-Rate High Yield Fund (Managed Fund) (YLD) and the Coolabah Active Composite Bond Fund (Hedge Fund) (Ticker: FIXD). 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.

*The Buy Sell Spread may change depending on the transaction costs associated with buying and selling the assets within the Fund’s portfolio at that time. Any changes to the spreads after the date of the PDS will be published here.

^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.

 

The Fund was previously known as the Smarter Money Higher Income Fund ARSN 601 093 485. On 5 September 2023, it was renamed to the Coolabah Short Term Income Fund to coincide with the launch of the quoted “(Managed Fund)” class (CXA: FRNS). The investment strategy, objectives and terms remain unchanged.

Ratings & Research Disclaimers

Lonsec Research

The rating issued 10/2023 SLT0052AU is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445 (Lonsec). Ratings are general advice only, and have been prepared without taking account of your objectives, financial situation or needs. Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and Lonsec assumes no obligation to update. Lonsec uses objective criteria and receives a fee from the Fund Manager. Visit lonsec.com.au for ratings information and to access the full report. © 2023 Lonsec. All rights reserved.

Zenith Investment Partners

The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) (“Zenith”) rating (assigned ETL8504AU June 2024) referred to in this piece is limited to “General Advice” (s766B Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual, including target markets of financial products, where applicable, and is subject to change at any time without prior notice. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at Fund Research Regulatory Guidelines.

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