| Fund: Coolabah Long-Short Credit PIE Fund |
| Strategy: Alternatives/Unconstrained Fixed-Income |
| Return (since Dec. 2021): 6.65% pa net |
| Net return volatility (since Dec. 2021): 2.74% pa |
Objective: The Fund targets investment returns, after fees and before tax, of 4% to 6% per annum above the overnight interbank cash rate as published by the Reserve Bank of New Zealand (RBNZ), with less than 5% per annum volatility over rolling 3 year periods.
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 currently invests in the Smarter Money Long-Short Credit Fund (Underlying Fund), an Australian unit trust managed by Coolabah. The Fund targets a position of being fully hedged back to New Zealand dollars.
The Underlying 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 | Net Return† | RBNZ Overnight Cash Rate | Net Excess Return‡ |
|---|---|---|---|
| 1 month | 0.46% | 0.20% | 0.26% |
| 3 months | 1.62% | 0.56% | 1.07% |
| 6 months | 2.01% | 1.11% | 0.90% |
| 1 year | 5.12% | 2.52% | 2.60% |
| 3 years pa | 8.52% | 4.12% | 4.40% |
| Inception pa Dec. 2021 | 6.65% | 3.74% | 2.91% |
| Underlying Fund ^ | |||
| 5 years pa | 5.86% | 3.44% | 2.42% |
| Inception pa Sep. 2017 | 5.49% | 2.42% | 3.07% |
^ The Underlying Fund (Smarter Money Long-Short Credit Fund) is an Australian unit trust. The returns displayed are estimated in NZD based on the actual AUD returns with 1 month forward contracts. † Net returns are calculated from the historic gross returns using the current fee structure as displayed in the PDS. ‡ The Excess Return columns represent the gross and net return above the AusBond Bank Bills Index hedged to NZD. # The yields shown are estimates based on the yield of the underlying strategy hedged to New Zealand Dollar (NZD) using the NZD Bank Bill 3 Month Index (NDBB3M) and the AUD Bank Bill 3 Month Index (BBSW3M).
* 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.
| Modified Interest Rate Duration | 0.12 years | Underlying Strategy Ratings: Recommended (Lonsec); Recommended (Zenith); Superior - More Complex (Foresight Analytics) |
