The Fund is managed with a risk targeted approach and seeks to deliver a similar risk exposure to the S&P/ASX200 Index. Despite similar risk to the S&P/ASX200 Index, the Fund is internally geared with a target underlying gross exposure of up to 200%. As a result, the Fund has the potential to receive franked dividends of up to 2x the underlying index.
The Fund targets outperformance of its benchmark, the S&P/ASX200 Franking Credit Adjusted Daily Total Return Index (Tax-Exempt), which is designed to provide a measure of after tax returns from the underlying S&P/ASX200 Index.
March 2024
| 1 mnth | 3 mnths | 6 mnths | 1 yr | 3 yrs p.a | Since inception p.a | |
|---|---|---|---|---|---|---|
| Income | 2.1% | 2.1% | 3.5% | 6.4% | 7.2% | 7.0% |
| Franking | 0.4% | 0.8% | 1.3% | 3.0% | 3.9% | 3.9% |
| Total Income | 2.5% | 2.9% | 4.8% | 9.4% | 11.1% | 10.9% |
| Growth | 1.2% | 3.3% | 9.1% | 5.2% | -1.4% | -1.3% |
| Total Fund Return | 3.7% | 6.2% | 13.9% | 14.6% | 9.6% | 9.5% |
| Benchmark | 3.5% | 5.8% | 14.9% | 16.0% | 11.2% | 11.1% |
Performance figures are net of fees and expenses and include 30 basis point exit spread. Inception date is 9 March 2021. Gross franking value used (0% tax).
Benchmark: S&P/ASX 200 Franking Credit Adjusted Daily Total Return Index (Tax-Exempt)
Past performance is not indicative of future performance.
| Client objective | Income and growth |
| Strategy | Buywrite overlay with tail protection |
| Recommended investment period | Long term (minimum five years) |
| Investment amount | Initial investment minimum: $10,000 Withdrawal minimum: $5,000 Subject to the Responsible Entity’s absolute discretion |
| Fees and charges | Management fee: 1.20% p.a. (including GST net of reduced input tax credits) There is no performance fee. Other expenses and indirect costs may also apply. Please refer to the PDS for more information. |
| Responsible Entity | The Trust Company (RE Services) Limited (Perpetual) AFSL 23510 Level 18 Angel Place, 123 Pitt St, Sydney NSW |
| Target Market Determination (TMD) | Download PDF This Fund is appropriate for investors with “High” risk and return profiles. A suitable investor for this Fund is prepared to accept high risk in the pursuit of capital growth with a medium to long investment timeframe. Investors should refer to the Target Market Determination (TMD) for further information. |
| Key risks | All investments are subject to risk which means the value of investments may rise or fall, which means that you may receive back less than your original investment or you may not receive targeted income. The key risks associated with investing in the Fund include liquidity risk, investment risk, credit and default risk, credit margin risk, investment strategy risk, related party risk, legal and regulatory risk (amended as required). Refer to section 7 of the PDS for a comprehensive summary of potential risks. |
| Investment team | Wheelhouse Partners |
| Portfolio Manager | Alastair MacLeod and Andrew MacLeod |
| Inception date | 9 March 2021 |
| Volatility since inception | none |
| Stock range | 150-200 |
| Cash limit | Max 10%, although this is expected to be zero due to gearing |
| Benchmark | S&P/ASX200 Franking Credit Adjusted Daily Total Return Index (Tax-Exempt) |
| APIR code | PIM2087AU |
| Reporting currency | AUD |
| December 2023 Distribution CPU | 1.0c |
| CUM distribution exit price ($AUD) | 0.9396 |
| Ex distribution exit price ($AUD) | 0.9297 |
| Ex distribution price used for reinvestment ($AUD) | 0.9325 |
For the latest prices, please download the Unit Price History file here.
Corporate Authorised Representative (“CAR”) Update
Target Market Determination – download PDF
RG240 Disclosure – download PDF
- Online application – click here to apply online.
- Direct Investment – click here for the application form and process.
- Apply via a platform. A platform bundles together a range of managed funds and investments into a single product. This provides investors consolidated and centralised reporting. The Wheelhouse Australian Enhanced Income Fund is available on the following platforms:
- Hub24 (IDPS)
- Powerwrap (IDPS)