March 2025
Fund: Smarter Money Long-Short Credit Fund - USD Investor Class
Strategy: Alternatives/Unconstrained Fixed-Income
Return (since Sep. 2017): 7.76% pa gross (5.92% pa net)
Net return volatility (since Sep. 2017): 2.78% pa

Objective: The Fund targets generating absolute returns of 4% to 6% p.a. above the midpoint of the US Federal Funds Target Range after management fees and performance 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 provides exposure to an actively managed, absolute return fixed-income strategy focused on exploiting long and short mispricings in global credit markets. The Fund has exposure to an Underlying Pool which invests primarily in debt securities, hybrids and derivatives. The Underlying Pool 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 Underlying Pool 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 2025-03-31Gross Return (USD)Net Return (USD)US Fed Fund Target MidpointGross Excess Return (USD)Net Excess Return (USD)
1 month-0.17%-0.11%0.36%-0.53%-0.47%
3 months1.39%1.18%1.06%0.33%0.11%
6 months4.28%3.58%2.24%2.05%1.35%
1 year10.78%8.96%4.97%5.81%4.00%
3 years pa10.15%8.10%4.34%5.81%3.76%
5 years pa9.77%7.79%2.64%7.13%5.16%
Inception pa Sep. 20177.76%5.92%2.35%5.41%3.57%

Net returns are calculated from the historic gross returns using the current fee structure as displayed in the Product Disclosure Statement. *USD gross returns are estimated from AUD gross returns using 1 month forward contracts. The Excess Return columns represent the gross and net return above the midpoint of the US Federal Funds Target Range.

Disclaimer: Past performance does not assure future returns. Returns are shown net of management fees and costs unless otherwise stated. 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 Fund’s risks better, please refer to the Product Disclosure Statement available at Coolabah Capital Investments' website.
Note: all portfolio statistics other than yields and duration are reported on gross asset value
Net Monthly Returns > Fed Target Midpoint 76% Modified Interest Rate Duration 0.36 years
Av. Portfolio Credit Rating A+ Gearing Permitted? Yes
Portfolio MSCI ESG Rating A 1 Year Av. Gross Portfolio Weight to Cash 2.8%
No. Cash Accounts 23 Gross Portfolio Weight to AT1 Hybrids 0.0%
No. Notes and Bonds 204 Gross Cash Accounts + RBA Repo-Eligible Debt 63.0%
Av. Interest Rate (Gross Running Yield) 6.93% Net Annual Volatility (since incep.)
Fund: Smarter Money Long-Short Credit Fund - USD Investor Class
Return/Risk: 7.76% pa gross/5.92% pa net (2.78% pa volatility)