| Fund: Smarter Money Long-Short Credit Fund - Institutional Class |
| Strategy: Alternatives/Unconstrained Fixed-Income |
| Return (since Sep. 2017): 7.17% pa gross (5.34% pa net) |
| Net return volatility (since Sep. 2017): 3.07% pa |
Objective: The Fund targets generating absolute returns of 4% to 6% p.a. above the RBA cash rate after management fees and performance related fees with less than 5% p.a. volatility over rolling 3 year periods, and low to no correlation with equities, fixed-rate bonds, and property markets.
Strategy: The Fund offers exposure to an actively managed, absolute return fixed-income strategy focused on exploiting long and short mispricings in global credit markets. The Fund invests primarily in debt securities, hybrids and derivatives. The Fund employs an “active” fixed-income investment strategy, seeking to take ‘long’ and/or ‘short’ positions in relation to debt and hybrid securities which are considered mispriced. The goal is to generate ‘alpha’, or risk-adjusted excess returns, through identifying and exploiting mispricings in the underlying assets and/or derivatives related to them.
The Fund is permitted to invest in Australian and global bonds, such as government and semi-government bonds, bank and corporate bonds, hybrid and asset-backed securities, including residential-mortgage-backed securities, issued in Australian Dollars or hedged to Australian Dollars, as well as cash, cash equivalents and related derivatives. It can borrow, use derivatives and short-sell, meaning it may be geared (or leveraged). Leverage can amplify gains and also amplify losses.
| Period Ending 2025-12-31 | Gross Return (Insto.) | Net Return (Insto.)† | RBA Cash Rate | Gross Excess Return‡ | Net Excess Return (Insto.)†‡ |
|---|---|---|---|---|---|
| 1 month | 0.71% | 0.55% | 0.32% | 0.39% | 0.23% |
| 3 months | 1.37% | 1.14% | 0.90% | 0.48% | 0.24% |
| 6 months | 4.39% | 3.58% | 1.83% | 2.57% | 1.75% |
| 1 year | 8.06% | 6.63% | 3.88% | 4.18% | 2.75% |
| 3 years pa | 12.26% | 9.94% | 4.02% | 8.24% | 5.92% |
| 5 years pa | 7.07% | 5.37% | 2.65% | 4.42% | 2.72% |
| Inception pa Sep. 2017 | 7.17% | 5.34% | 1.99% | 5.18% | 3.34% |
† Net returns are calculated from the historic gross returns using the current fee structure as displayed in the Product Disclosure Statement. ‡ The Excess Return columns represent the gross and net return above the RBA cash rate.
| Ratings: Recommended (Zenith); Superior - More Complex (Foresight Analytics) |
