Active Composite Bond PIE
Coolabah Active Composite Bond PIE Fund
Daily Liquidity, Long Duration, Actively Managed
Overview
The Coolabah Active Composite Bond PIE Fund seeks to deliver superior risk-adjusted returns to the Bloomberg AusBond Composite Bond Index through harnessing Coolabah’s active credit alpha style that focusses on systematically exploiting mispricings to generate capital gains in addition to yield.
It targets returns of 1% to 2% annually in excess of the Bloomberg AusBond Composite 0+ Yr Index (hedged to NZD), after management fees, over rolling 12 month periods.
The Coolabah Active Composite Bond PIE Fund provides exposure to a diversified portfolio of cash securities and bonds, including government bonds, bank bonds, corporate bonds and asset-backed securities and residential-mortgage backed securities with an average target credit rating of A. It cannot invest in hybrids, equities, property, unrated securities, high yield bonds or sub-prime loans.
Coolabah adds-value by finding and exploiting bond mispricings in high grade credit markets that can generate capital gains or alpha in addition to the yield on these securities.
To find these mispricings, you need a very large team coupled with significant quantitative resources, which is why we have 47 executives, including 15 analysts and 11 portfolio managers and traders spread across Sydney, Melbourne, London and Auckland. It is also why we have built up to 30-40 proprietary quant valuation models in house and harnessed AI to help us in our search for mispricings.
Exploiting these mispricings to generate capital gains also requires a very active investment style. We are typically trading 50 to 100 times a day, on average $150 million per day.
The Coolabah Active Composite Bond PIE Fund is a portfolio investment entities (PIE). This is a New Zealand managed fund that offers investors special tax rules that apply to the income earned by the Fund. The PIE rules mean that investors pay tax on their own tax rate (the Prescribed Investor Rate or PIR), which is usually slightly lower than their income tax rate. Refer to the Product Disclosure Statement for more information.
Key Facts
| Name | Coolabah Active Composite Bond PIE Fund |
|---|---|
| Scheme | Coolabah Investment Funds |
| Investment Objective | Targets returns in excess of the Bloomberg Ausbond Composite Bond 0+ Yr Index hedged to NZD by 1.0% to 2.0% pa after fees. |
| Inception Date | 6-Dec-2023 |
| Inception Date Of Underlying Strategy | 6-Mar-2017 |
| Applications | Daily |
| Withdrawals | Daily (T+4) |
| Distribution Frequency | Quarterly |
| Distribution Method | Reinvestment or paid out |
| Fund Host | FundRock NZ |
| Investment Manager | Coolabah Capital Investments (Retail) |
| Supervisor | Public Trust |
| Fund Administrator | Apex NZ |
| Custodian | BNP Paribas |
Pricing Information
| Name | Coolabah Active Composite Bond PIE Fund |
| Management Costs | 0.40% pa including GST |
| Performance Fee (%) | 20.5% of the excess outperformance above the Benchmark, after management costs |
| Benchmark | Bloomberg AusBond Composite 0+ Yr Index hedged to NZD |
| Currency | NZD |
| Minimum Investment | $1,000 NZD |
| Additional Investment | $1,000 NZD |
| Minimum Balance | $1,000 NZD |
| Buy Spread | 0.000% |
| Sell Spread* | 0.025% |
Distributions
Distribution Per Unit ($)
| Quarter Ending | Active Composite Bond PIE |
|---|---|
| 15-Oct-24 | 0.013 |
| 27-Jun-24 | 0.016 |
| 28-Mar-24 | 0.013 |
Contact Us
For any account or transaction related queries, please contact FundRock NZ.
FundRock NZ
- Phone: +64 4999 654
- Email: contact@fundrock.com
- Address: PO Box 25003, Wellington 6140, New Zealand
For all investment related enquiries, please contact our customer service department:
Coolabah Capital Investments
- Phone: +61 (0) 2 8315 3472
- Email: info@coolabahcapital.com
- Address: Level 3, 1 Bligh Street, Sydney, NSW Australia 2000
Frequently Asked Questions
Complete a withdrawal form and submit it to FundRock NZ by emailing contact@fundrock.com or calling + 64 4 4999 654. Further instructions are on the form.
If you have invested through a financial adviser or platform, you will need to submit your instruction with their assistance.
*Buy/sell spreads are indicative only. For the most up to date buy/sell spreads see www.fundrock.com. Buy/sell spreads belong to the Funds and are not a fee paid to FundRock NZ or to the investment manager, see page 9 of the PDS for further details.
Disclaimer: Past performance is not indicative of future performance. Returns are shown after all fund fees, unless otherwise stated.
Public Trust is the Supervisor and FundRock NZ Limited (FundRock) is the issuer and manager of the Coolabah Investment Funds (Scheme), including the Coolabah Short Term Income PIE Fund, the Coolabah Floating-Rate High Yield PIE Fund, the Coolabah Long-Short Credit PIE Fund and the Coolabah Active Composite Bond PIE Fund. Coolabah Capital Investments (Retail) Pty Ltd ACN 153 555 867 is the Investment Manager.
This has been prepared by Coolabah Capital Investments (Retail) Pty Ltd ACN 153 555 867 (Coolabah), an authorised representative (#000414337) of Coolabah Capital Institutional Investments Pty Ltd ABN 85 605 806 059 AFSL 482238, to provide you with general information only. In preparing this publication, we did not take into account the investment objectives, financial situation or particular needs of any particular person. It is not intended to take the place of professional advice and you should not take action on specific issues in reliance on this information. Investors are encouraged to seek independent financial advice. The Product Disclosure Statement (PDS) for the Fund should be considered before deciding whether to acquire or hold units in it. A PDS for the Fund can be obtained by visiting www.stag.coolabahcapital.com. Neither Coolabah, FundRock, Public Trust nor any of their related parties, their employees or directors, provide any warranty of accuracy or reliability in relation to such information or accepts any liability to any person who relies on it. Past performance should not be taken as an indicator of future performance. The Fund is subject to investment risks, which could include delays in repayment and/or loss of income and capital invested.
AUSTRALIA
SYDNEY
Level 3, 1 Bligh Street, Sydney NSW 2000
MELBOURNE
Level 38, South Tower, 80 Collins Street, Melbourne VIC 3000
UNITED KINGDOM
LONDON
Second Floor, 28 Austin Friars, London EC2N 2QQ
NEW ZEALAND
AUCKLAND
Level 17, 1 Albert Street
Auckland CBD, Auckland 1010