Merlon Australian Share Income C - Managed Fund

Fund Objective

Merlon’s investment approach is to build a portfolio of undervalued companies with high levels of sustainable free cash flow and to then reduce some risk through the use of derivatives. Merlon aims for the Fund to be fully invested in large and mid-cap companies listed on the ASX, which are selected based on Merlon’s investment philosophy.

Fund Strategy

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.

Fees Comparison

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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	2.02%	2.43%	1.83%	5.68%	7.93%	7.38%	9.63%	-%
Growth return	-1.13%	0.45%	0.92%	1.94%	3.74%	2.79%	4.89%	-%
Income return	3.15%	1.98%	0.91%	3.74%	4.19%	4.59%	4.74%	-%
Market index (S&P/ASX 200 TR AUD)
Total return	1.78%	0.36%	3.06%	7.37%	11.2%	9.81%	10.21%	10.12%

As at 31 Jan 2026. Returns for periods greater than 1 year are annualised. All figures are percentages.

Asset Allocation

Merlon Australian Share Income C

Australian Equities: 97.23%

Cash: 2.77%

International Equities: 0%

Property & Infrastructure: 0%

Fixed Interest: 0%

Alternatives: 0%

Average Allocation of Peers

Australian Equities: 99.40%

Cash: -1.06%

International Equities: 0.74%

Property & Infrastructure: 1.30%

Fixed Interest: -0.33%

Alternatives: -0.04%

General Information

Fund Details

Type	Description
Fund Name	Merlon Australian Share Income C
Responsible Entity	Merlon Capital Partners Pty Limited
APIR Code	HOW4411AU
Sector/Asset Class	Australia Equity Income
Morningstar Rating	(as at 31 Dec 2025)
Legal Structure	Investment Fund
Fund Inception	27 Nov 2020
Fund Size	$400125156 million (as at 31 Dec 2025)
Entry Price	$1.2856 (as at 29 Jan 2026)
Exit Price	$1.2804 (as at 29 Jan 2026)
Fund Status	Open

Offer information

Type	Description
MER	0.75% (as at 11 Dec 2025)
Indirect Cost Ratio (ICR)	0.75% (as at 30 Jun 2024)
Minimum initial investment

Top 10 holdings (as at 30 Sep 2025)

Holding (as at 30 Sep 2025)	Type	% of Portfolio
BHP Group Ltd	Equity	5.32%
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FAQs about the Merlon Australian Share Income C

What is the objective of the Merlon Australian Share Income C managed fund?

The objective of the Merlon Australian Share Income C managed fund is Merlon’s investment approach is to build a portfolio of undervalued companies with high levels of sustainable free cash flow and to then reduce some risk through the use of derivatives. Merlon aims for the Fund to be fully invested in large and mid-cap companies listed on the ASX, which are selected based on Merlon’s investment philosophy.

What is the strategy for the Merlon Australian Share Income C managed fund?

The strategy of the Merlon Australian Share Income C managed fund is Merlon’s investment approach is to build a portfolio of undervalued companies with high levels of sustainable free cash flow and to then reduce some risk through the use of derivatives. Merlon aims for the Fund to be fully invested in large and mid-cap companies listed on the ASX, which are selected based on Merlon’s investment philosophy.

What is the APIR code of the Merlon Australian Share Income C managed fund?

The APIR code of the Merlon Australian Share Income C managed fund is HOW4411AU.

What was Merlon Australian Share Income C’s total return last month?

Merlon Australian Share Income C’s total return last month was 2.02%. This was made up of a growth return of -1.13% and an income return of 3.15%. These returns were calculated as at 31 Jan 2026.

What was Merlon Australian Share Income C’s total return for the last three months?

Merlon Australian Share Income C’s total return for the last three months was 2.43%. This was made up of a growth return of 0.45% and an income return of 1.98%%. These returns were calculated as at 31 Jan 2026.

What is Merlon Australian Share Income C’s one-year total return?

Merlon Australian Share Income C’s one-year total return is 5.68%. This was made up of a growth return of 1.94% and an income return of 3.74%. These returns were calculated as at 31 Jan 2026.

What is Merlon Australian Share Income C’s three-year total return?

Merlon Australian Share Income C’s one-year total return is 7.38%. This was made up of a growth return of 2.79% and an income return of 4.59%. These returns were calculated as at 31 Jan 2026.

What is the asset allocation of the Merlon Australian Share Income C managed fund?

The asset allocation of the Merlon Australian Share Income C managed fund is :

Australian Equities: 97.23%

Cash: 2.77%

International Equities: 0%

Property & Infrastructure: 0%

Fixed Interest: 0%

Alternatives: 0%

Who is the responsible Entity of the Merlon Australian Share Income C managed fund?

The Responsible Entity for the Merlon Australian Share Income C managed fund is Merlon Capital Partners Pty Limited.

What sector/asset class does the Merlon Australian Share Income C managed fund belong to?

The Merlon Australian Share Income C managed fund belongs to the Australia Equity Income sector/asset class.

What is the size of the Merlon Australian Share Income C managed fund?

As at 31 Dec 2025, the size of the Merlon Australian Share Income C managed fund was $400125156 million.

What is the inception date of the Merlon Australian Share Income C managed fund?

The Merlon Australian Share Income C managed fund has an inception date of 27 Nov 2020.

What is the current entry price of the Merlon Australian Share Income C managed fund?

The current entry price of the Merlon Australian Share Income C managed fund is $1.2856 per unit and the current exit price is $1.2804 per unit (as at 29 Jan 2026).

What is the current exit price of the Merlon Australian Share Income C managed fund?

The current exit price of the Merlon Australian Share Income C managed fund is $1.2804 per unit and the current entry price is $1.2856 per unit (as at 29 Jan 2026).

What is the minimum investment amount for the Merlon Australian Share Income C managed fund?

The minimum initial investment amount for the Merlon Australian Share Income C 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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