March 2025
Fund: Smarter Money Fund - Base Fee Class
Strategy: Smarter Money/Short-Term Fixed-Interest
Return (since Feb. 2012): 4.31% pa gross (3.49% pa net)
Net return volatility (since Feb. 2012): 0.59% pa

Objective: An independently-rated/recommended strategy targeting low-risk cash and fixed-income returns that exceed the RBA’s cash rate by 1%-2% pa after fees, over rolling 12 month periods.

Strategy: We actively invest in a diversified portfolio of Australian deposits and investment grade floating-rate notes with a weighted-average “A” credit rating. We do not invest in fixed-rate bonds (unless interest rate risk is hedged), sub-investment grade bonds, direct loans, equities, capital notes, preference shares (eg, hybrids), use leverage, or take currency risk. We add value via active asset-selection using a range of valuation models with the aim of (1) delivering lower portfolio volatility than traditional bond funds and (2) providing superior risk-adjusted returns, or alpha, without explicitly seeking interest rate risk, credit risk or liquidity risk. The strategy is managed by Coolabah Capital Investments, which is a specialist active credit manager.

Period Ending 2025-03-31Gross Return (Base)Net Return (Base)RBA Cash RateGross Excess ReturnNet Excess Return (Assist.)
1 month0.16%0.09%0.34%-0.19%-0.25%
3 months1.15%0.95%1.03%0.12%-0.07%
6 months2.97%2.57%2.11%0.86%0.46%
1 year6.41%5.58%4.33%2.08%1.24%
3 years pa5.36%4.54%3.47%1.89%1.06%
5 years pa4.26%3.45%2.10%2.17%1.35%
10 years pa3.68%2.86%1.81%1.87%1.06%
Inception pa Feb. 20124.31%3.49%2.06%2.25%1.43%

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.

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.
Net Monthly Returns > RBA Overnight Cash Rate 76% Av. Interest Rate (Gross Running Yield) 5.03%
Portfolio Weight to Cash Accounts 10.0% Modified Interest Rate Duration 0.14 years
Portfolio Weight to Bonds 90.5% Gearing Permitted? No
Av. Portfolio Credit Rating A+ 1 Year Av. Portfolio Weight to Cash 10.6%
Portfolio MSCI ESG Rating AA Cash Accounts + RBA Repo-Eligible Debt 63.2%
No. Cash Accounts 11 Net Annual Volatility (since incep.) 0.59%
No. Notes and Bonds 149 Net Sharpe Ratio (since incep.) 2.44x
Ratings: Recommended (Zenith); Superior - Relatively Simple (Foresight Analytics)
Fund: Smarter Money Fund - Base Fee Class
Return/Risk: 4.31% pa gross/3.49% pa net (0.59% pa volatility)