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SMARTER MONEY Strategy

Targets daily liquidity returns in excess of the RBA cash rate plus 1% to 2% pa net of fees with near-zero interest rate duration risk and an average A rating

Smarter Money Fund (SMF)

RBA Cash Plus 1.0% to 2.0% PA Strategy

Overview

The Smarter Money Fund (SMF) 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 1.0% to 2.0% pa after all fees with an average A credit rating and near-zero interest rate duration risk.

The SMF is a daily liquidity solution that invests in cash and investment-grade 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.

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

Since its inception in February 2012, SMF has delivered post-fee returns that exceed the RBA cash rate plus 1% after all fees with low volatility of less than 1% per annum. Past performance does not assure future returns and investors should read the PDS to better understand this strategy’s risks.

Investments

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

Applying a diverse array of quantitative asset pricing techniques, SMF’s portfolio managers add-value through exploiting bond mispricings that seek to generate capital gains over and above the yield provided by the underlying fixed-income assets.

Responsible Investing

Coolabah considers that environment, social and governance (ESG) factors are important inputs into its investment process and have potentially profound consequences for the performance of our investments, including, most notably, downside risks but also upside mispricing potential in terms of the value of those assets. Nuanced ESG factors are often overlooked by the market and credit rating agencies when assessing the creditworthiness and valuations of fixed-income securities. ESG is a core part of both our quantitative and qualitative due diligence and wider investment process.

Coolabah is a signatory of the UN-endorsed Principles for Responsible Investment (“PRI”) and the Smarter Money Fund has been certified by the Responsible Investment Association Australasia. You can read more about Coolabah’s approach to responsible investing here.

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

SMF 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

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

Qualitative

The Smarter Money Fund (SMF) 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 1.0% to 2.0% pa after all fees with an average A credit rating and near-zero interest rate duration risk.

The SMF is a daily liquidity solution that invests in cash and investment-grade 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.

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

Since its inception in February 2012, SMF has delivered post-fee returns that exceed the RBA cash rate plus 1% after all fees with low volatility of less than 1% per annum. Past performance does not assure future returns and investors should read the PDS to better understand this strategy’s risks.

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

Applying a diverse array of quantitative asset pricing techniques, SMF’s portfolio managers 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)^.

SMF 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

NameSmarter Money Fund
ARSN154 023 408
Investment ObjectiveTargets returns in excess of the RBA cash rate plus 1.0% to 2.0% after Management Costs
Inception Date17-Feb-12
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 CodeCRE0014AU
ISINAU60CRE00140
TradableDirectly with the Responsible Entity
mFundSMF01
Management Costs0.66% p.a.
Performance Fee (%)20.5% of excess fund performance over the Benchmark subject to a high water mark
BenchmarkRBA cash rate plus 1.0% 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 ($)

Qtr Ending Assisted Investor Class Institutional Class ABase Fee
APIR Code CRE0014AU CRE0015AUETL6313AU
31-Mar-240.0140.0141.399876
31-Dec-230.0120.0120.012
30-Sep-230.010.010.01
30-Jun-230.0110.0110.01099361
31-Mar-230.00850.00850.0085
30-Dec-220.00650.00650.00650220
30-Sep-220.00450.00450.0045
30-Jun-220.00720.00980.0103
31-Mar-220.002 0.0020.002
31-Dec-210.0015 0.00150.0015
30-Sep-210.0015 0.00150.0015
30-Jun-210.00194113 0.003642670.0023
31-Mar-210.01051509 0.006876240
31-Dec-200.01 0.010
30-Sep-200.007 0.0070
30-Jun-200.003 0.0030
31-Mar-200.0070751 0.010584630
31-Dec-190.004 0.0040
30-Sep-190.004 0.0040
30-Jun-190.0058 0.00580
31-Mar-190.007 0.0070
31-Dec-180.007 0.0070
30-Sep-180.007 0.0070
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Platform Availability

PlatformAssisted Investor Class
APIR CodeCRE0014AU
ASX/CboeNo
AMP NorthYes
Australian Money MarketYes
BeaconYes
BT AsgardYes
BT PanoramaYes
Credit SuisseYes
CrestoneYes
DiversaYes
FirstWrapYes
Hub24Yes
IOOF PursuitYes
Key InvestYes
Macquarie WrapYes
mFundsYes
Mason StevensYes
MLC NavigatorYes
MLC WrapYes
Morgan StanleyYes
NetwealthYes
OneVueYes
Perpetual WealthFocusYes
PowerwrapYes
PraemiumYes
UBSYes
uXchangeYes
Wilsons AdvisoryYes
See More

Frequently Asked Questions

How do I invest in the Smarter Money Fund?
To invest via the Securities Exchange – You can buy and sell units in SMF 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.

^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 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.

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 Coolabah 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.

Ratings & Research Disclaimers

Lonsec Research

The rating issued 10/2022 CRE0014AU 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 ETL6313AU June 2021) 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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