Mutual Credit - Managed Fund

Fund Objective

Mutual’s investment process is based on using bottom-up fundamental analysis to determine the relative value and appropriateness of the various Australian bonds available within the market. The cornerstone of Mutual's investment philosophy is security with performance. The team's research process places its emphasis on mitigating downside risks by attempting to provide investors with a high level of capital preservation and outperforming the Bloomberg Index, while generating excess net cash returns to investors.

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	0.61%	1.44%	3.45%	6.51%	7.51%	7.88%	5.52%	-%
Growth return	0.26%	0.05%	0.27%	-0.13%	-%	0.97%	0.42%	-%
Income return	0.35%	1.39%	3.18%	6.64%	-%	6.91%	5.1%	-%
Market index (Bloomberg Global Aggregate TR Hdg AUD)
Total return	0.23%	0.17%	2.11%	4.26%	3.6%	3.34%	-0.43%	1.81%

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

Asset Allocation

Mutual Credit

Cash: 3.15%

Fixed Interest: 96.85%

Australian Equities: 0%

International Equities: 0%

Property & Infrastructure: 0%

Alternatives: 0%

Average Allocation of Peers

Cash: 4.35%

Fixed Interest: 93.21%

Australian Equities: 0.01%

International Equities: -0.17%

Property & Infrastructure: 0.27%

Alternatives: 2.33%

General Information

Fund Details

Type	Description
Fund Name	Mutual Credit
Responsible Entity	Mutual Limited
APIR Code	PRM8256AU
Sector/Asset Class	Diversified Credit
Morningstar Rating	(as at 31 Jan 2026)
Legal Structure	Investment Fund
Fund Inception	14 Feb 2020
Fund Size	$799064221 million (as at 31 Jan 2026)
Entry Price	$1.04191 (as at 13 Feb 2026)
Exit Price	$1.04191 (as at 13 Feb 2026)
Fund Status	Open

Offer information

Type	Description
MER	0.49% (as at 30 Sep 2025)
Indirect Cost Ratio (ICR)	0.52% (as at 30 Jun 2025)
Minimum initial investment	$20,000
Minimum additional investments	$5,000.00

Top 10 holdings (as at 31 Dec 2025)

Holding (as at 31 Dec 2025)	Type	% of Portfolio
Bank Of Queensland Ltd.	Bond - Non-Agency RMBS	5.68%
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FAQs about the Mutual Credit

What is the objective of the Mutual Credit managed fund?

The objective of the Mutual Credit managed fund is Mutual’s investment process is based on using bottom-up fundamental analysis to determine the relative value and appropriateness of the various Australian bonds available within the market. The cornerstone of Mutual's investment philosophy is security with performance. The team's research process places its emphasis on mitigating downside risks by attempting to provide investors with a high level of capital preservation and outperforming the Bloomberg Index, while generating excess net cash returns to investors.

What is the strategy for the Mutual Credit managed fund?

The strategy of the Mutual Credit managed fund is Mutual’s investment process is based on using bottom-up fundamental analysis to determine the relative value and appropriateness of the various Australian bonds available within the market. The cornerstone of Mutual's investment philosophy is security with performance. The team's research process places its emphasis on mitigating downside risks by attempting to provide investors with a high level of capital preservation and outperforming the Bloomberg Index, while generating excess net cash returns to investors.

What is the APIR code of the Mutual Credit managed fund?

The APIR code of the Mutual Credit managed fund is PRM8256AU.

What was Mutual Credit’s total return last month?

Mutual Credit’s total return last month was 0.61%. This was made up of a growth return of 0.26% and an income return of 0.35%. These returns were calculated as at 31 Jan 2026.

What was Mutual Credit’s total return for the last three months?

Mutual Credit’s total return for the last three months was 1.44%. This was made up of a growth return of 0.05% and an income return of 1.39%%. These returns were calculated as at 31 Jan 2026.

What is Mutual Credit’s one-year total return?

Mutual Credit’s one-year total return is 6.51%. This was made up of a growth return of -0.13% and an income return of 6.64%. These returns were calculated as at 31 Jan 2026.

What is Mutual Credit’s three-year total return?

Mutual Credit’s one-year total return is 7.88%. This was made up of a growth return of 0.97% and an income return of 6.91%. These returns were calculated as at 31 Jan 2026.

What is the asset allocation of the Mutual Credit managed fund?

The asset allocation of the Mutual Credit managed fund is :

Cash: 3.15%

Fixed Interest: 96.85%

Australian Equities: 0%

International Equities: 0%

Property & Infrastructure: 0%

Alternatives: 0%

Who is the responsible Entity of the Mutual Credit managed fund?

The Responsible Entity for the Mutual Credit managed fund is Mutual Limited.

What sector/asset class does the Mutual Credit managed fund belong to?

The Mutual Credit managed fund belongs to the Diversified Credit sector/asset class.

What is the size of the Mutual Credit managed fund?

As at 31 Jan 2026, the size of the Mutual Credit managed fund was $799064221 million.

What is the inception date of the Mutual Credit managed fund?

The Mutual Credit managed fund has an inception date of 14 Feb 2020.

What is the current entry price of the Mutual Credit managed fund?

The current entry price of the Mutual Credit managed fund is $1.04191 per unit and the current exit price is $1.04191 per unit (as at 13 Feb 2026).

What is the current exit price of the Mutual Credit managed fund?

The current exit price of the Mutual Credit managed fund is $1.04191 per unit and the current entry price is $1.04191 per unit (as at 13 Feb 2026).

What is the minimum investment amount for the Mutual Credit managed fund?

The minimum initial investment amount for the Mutual Credit managed fund is $20,000. Minimum additional investment is $5000.

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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