Ardea Real Outcome P - Managed Fund

Fund Objective

The Fund targets a stable return in excess of inflation over the medium term.

Fund Strategy

The investment approach is based on generating returns from relative value strategies that aim to exploit mispricing between comparable fixed income securities which are related to each other and have similar risk characteristics but are priced differently. Ardea believes this type of mispricing exists because fixed income markets are inefficient. Ardea have built a repeatable investment process over time around capturing this mispricing.

Fund Performance Comparison

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Peers

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The performance of the peers is calculated as the total of the performance for each time period for all the funds in the peer group, divided by the number of funds in the peer group.

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Fees Comparison

% p.a.

Average of peers ({{ fund.benchmark.peers.peerCount }})

NOTE: Fee data has been provided by Morningstar, it may not include all costs being charged on your investment such as platform and adviser fees. You should check your fund manager or adviser statements to find out the exact fees you are being charged. Peers are funds that use the same benchmark in the Morningstar database.

Fund performance

	1M	3M	6M	1Y p.a.	2Y p.a.	3Y p.a.	5Y p.a.	10Y p.a.
Total return	0.69%	2.21%	3.27%	4.04%	1.7%	2.78%	-%	-%
Growth return	0.09%	1.6%	1.45%	1.8%	-0.95%	-1.33%	-%	-%
Income return	0.6%	0.61%	1.82%	2.24%	2.65%	4.11%	-%	-%
Market index (RBA Bank accepted Bills 90 Days)
Total return	0.34%	1.02%	2.13%	4.35%	4.28%	3.67%	2.21%	1.99%

As at 31 Mar 2025. Returns for periods greater than 1 year are annualised. All figures are percentages.

Asset Allocation

Ardea Real Outcome P

Cash: 6.98%

Fixed Interest: 93.02%

Australian Equities: 0%

International Equities: 0%

Property: 0%

Alternatives: 0%

Average Allocation of Peers

Cash: 43.40%

Fixed Interest: 17.42%

Australian Equities: 4.28%

International Equities: 7.52%

Property: 1.93%

Alternatives: 25.45%

General Information

Fund Details

Type	Description
Fund Name	Ardea Real Outcome P
Responsible Entity	KeyInvest Limited
APIR Code	HOW0416AU
Sector/Asset Class	Alternative - Other
Morningstar Rating	Not Rated
Legal Structure	Investment Fund
Fund Inception	27 Nov 2020
Fund Size	n/a
Entry Price	$0.9257 (as at 22 Apr 2025)
Exit Price	$0.9247 (as at 22 Apr 2025)
Fund Status	Open

Offer information

Type	Description
MER	0.45% (as at 21 Nov 2024)
Indirect Cost Ratio (ICR)	0.45% (as at 30 Jun 2024)
Performance fee (not included in ICR)	Not Available
Minimum initial investment

Top 10 holdings (as at 31 Jan 2025)

Holding (as at 31 Jan 2025)	Type	% of Portfolio
New South Wales Treasury Corporation 2.75%	Bond-Gov't Inflation Protected	37.70%
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FAQs about the Ardea Real Outcome P

What is the objective of the Ardea Real Outcome P managed fund?

The objective of the Ardea Real Outcome P managed fund is The Fund targets a stable return in excess of inflation over the medium term.

What is the strategy for the Ardea Real Outcome P managed fund?

The strategy of the Ardea Real Outcome P managed fund is The investment approach is based on generating returns from relative value strategies that aim to exploit mispricing between comparable fixed income securities which are related to each other and have similar risk characteristics but are priced differently. Ardea believes this type of mispricing exists because fixed income markets are inefficient. Ardea have built a repeatable investment process over time around capturing this mispricing.

What is the APIR code of the Ardea Real Outcome P managed fund?

The APIR code of the Ardea Real Outcome P managed fund is HOW0416AU.

What was Ardea Real Outcome P’s total return last month?

Ardea Real Outcome P’s total return last month was 0.69%. This was made up of a growth return of 0.09% and an income return of 0.6%. These returns were calculated as at 31 Mar 2025.

What was Ardea Real Outcome P’s total return for the last three months?

Ardea Real Outcome P’s total return for the last three months was 2.21%. This was made up of a growth return of 1.6% and an income return of 0.61%%. These returns were calculated as at 31 Mar 2025.

What is Ardea Real Outcome P’s one-year total return?

Ardea Real Outcome P’s one-year total return is 4.04%. This was made up of a growth return of 1.8% and an income return of 2.24%. These returns were calculated as at 31 Mar 2025.

What is Ardea Real Outcome P’s three-year total return?

Ardea Real Outcome P’s one-year total return is 2.78%. This was made up of a growth return of -1.33% and an income return of 4.11%. These returns were calculated as at 31 Mar 2025.

What is the asset allocation of the Ardea Real Outcome P managed fund?

The asset allocation of the Ardea Real Outcome P managed fund is :

Cash: 6.98%

Fixed Interest: 93.02%

Australian Equities: 0%

International Equities: 0%

Property: 0%

Alternatives: 0%

Who is the responsible Entity of the Ardea Real Outcome P managed fund?

The Responsible Entity for the Ardea Real Outcome P managed fund is KeyInvest Limited.

What sector/asset class does the Ardea Real Outcome P managed fund belong to?

The Ardea Real Outcome P managed fund belongs to the Alternative - Other sector/asset class.

What is the size of the Ardea Real Outcome P managed fund?

As at , the size of the Ardea Real Outcome P managed fund was $ million.

What is the inception date of the Ardea Real Outcome P managed fund?

The Ardea Real Outcome P managed fund has an inception date of 27 Nov 2020.

What is the current entry price of the Ardea Real Outcome P managed fund?

The current entry price of the Ardea Real Outcome P managed fund is $0.9257 per unit and the current exit price is $0.9247 per unit (as at 22 Apr 2025).

What is the current exit price of the Ardea Real Outcome P managed fund?

The current exit price of the Ardea Real Outcome P managed fund is $0.9247 per unit and the current entry price is $0.9257 per unit (as at 22 Apr 2025).

What is the minimum investment amount for the Ardea Real Outcome P managed fund?

The minimum initial investment amount for the Ardea Real Outcome P managed fund is $0.

Fund data sourced from Morningstar. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). Data and content is provided for personal use only. Whilst every care has been taken in producing these numbers, neither Morningstar nor InvestSMART can make any guarantees around the complete accuracy of these figures. Should you decide to change investments, please read all relevant disclosure documents including the Product Disclosure Statements and if required, you may consider speaking to a financial professional for further guidance. A tax event may be realised as a result of switching investments. Past performance is not a reliable indicator of future performance.

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