| Fund: Smarter Money Long-Short Credit Fund - Institutional Class |
| Strategy: Alternatives/Unconstrained Fixed-Income |
| Return (since Sep. 2017): 7.19% pa gross (5.38% pa net) |
| Net return volatility (since Sep. 2017): 2.99% 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 2026-06-30 | Gross Return (Insto.) | Net Return (Insto.)† | RBA Cash Rate | Gross Excess Return‡ | Net Excess Return (Insto.)†‡ |
|---|---|---|---|---|---|
| 1 month | 0.77% | 0.61% | 0.37% | 0.39% | 0.23% |
| 3 months | 2.66% | 2.22% | 1.04% | 1.61% | 1.18% |
| 6 months | 3.63% | 3.00% | 1.98% | 1.65% | 1.02% |
| 1 year | 8.18% | 6.68% | 3.84% | 4.34% | 2.84% |
| 3 years pa | 10.73% | 8.77% | 4.10% | 6.64% | 4.67% |
| 5 years pa | 7.42% | 5.73% | 3.05% | 4.38% | 2.68% |
| Inception pa Sep. 2017 | 7.19% | 5.38% | 2.11% | 5.08% | 3.27% |
† 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.
* The yield displayed for the Fund is the annual running yield before fees. A fund’s running yield is a forward-looking measure of the income expected to be generated by the portfolio based on the coupons payable on the bonds held by the fund as at that date, before management fees, performance fees and fund expenses. The yield can change daily depending on factors, such as the fund's investment activity and market movements, and may be different on the day you invest. 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. The Fund has a different risk profile to the other comparisons, including, amongst other things, that it uses leverage, which means that both gains and losses may be amplified. To understand the Fund’s risks better, please refer to the Product Disclosure Statement.
| Ratings: Recommended (Zenith); Superior - More Complex (Foresight Analytics) |
