Mutual Credit - Managed Fund

Fund Objective

The Fund aims to achieve superior outcomes across two investment objectives: 1. Greater income than the Bloomberg Ausbond Bank Bill Index (after fees) quarterly. 2. Greater total return than the Bloomberg Ausbond Bank Bill Index (after fees) over a rolling 12-month period .

Fund Strategy

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 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.

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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	0.64%	2.2%	4.45%	9.45%	7.64%	4.89%	-%	-%
Growth return	-1.12%	0.42%	0.93%	2.37%	1.65%	0.19%	-%	-%
Income return	1.76%	1.78%	3.52%	7.08%	5.99%	4.7%	-%	-%

As at 30 Jun 2024. Returns for periods greater than 1 year are annualised. All figures are percentages.

Asset Allocation

Mutual Credit

Cash: 0.42%

Fixed Interest: 99.58%

General Information

Fund Details

Type	Description
Fund Name	Mutual Credit
Responsible Entity	Mutual Limited
APIR Code	PRM8256AU
Morningstar Rating	(as at 30 Jun 2024)
Legal Structure	Unknown
Fund Inception	14 Feb 2020
Fund Size	$668.29 million (as at 31 May 2024)
Entry Price	$1.03252 (as at 23 Jul 2024)
Exit Price	$1.03252 (as at 23 Jul 2024)
Fund Status	Open

Offer information

Type	Description
MER	0.49% (as at 30 Oct 2023)
Indirect Cost Ratio (ICR)	0.49% (as at 30 Jun 2023)
Performance fee (not included in ICR)	0
Minimum initial investment	$20,000
Minimum additional investments	$5,000.00

Top 10 holdings (as at 30 Sep 2023)

Holding (as at 30 Sep 2023)	Type	% of Portfolio
Peppers-Pepper Nc Wh Trust 2021-1	Mutual Fund - Unspecified	4.75%
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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 The Fund aims to achieve superior outcomes across two investment objectives: 1. Greater income than the Bloomberg Ausbond Bank Bill Index (after fees) quarterly. 2. Greater total return than the Bloomberg Ausbond Bank Bill Index (after fees) over a rolling 12-month period .

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 0.64%. This was made up of a growth return of -1.12% and an income return of 1.76%. These returns were calculated as at 30 Jun 2024.

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

Mutual Credit’s total return for the last three months was 2.2%. This was made up of a growth return of 0.42% and an income return of 1.78%%. These returns were calculated as at 30 Jun 2024.

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

Mutual Credit’s one-year total return is 9.45%. This was made up of a growth return of 2.37% and an income return of 7.08%. These returns were calculated as at 30 Jun 2024.

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

Mutual Credit’s one-year total return is 4.89%. This was made up of a growth return of 0.19% and an income return of 4.7%. These returns were calculated as at 30 Jun 2024.

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

The asset allocation of the Mutual Credit managed fund is :

Cash: 0.42%

Fixed Interest: 99.58%

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

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

What is the size of the Mutual Credit managed fund?

As at 31 May 2024, the size of the Mutual Credit managed fund was $668.29 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 $1.03252 per unit and the current exit price is $1.03252 per unit (as at 23 Jul 2024).

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

The current exit price of the Mutual Credit managed fund is $1.03252 per unit and the current entry price is $1.03252 per unit (as at 23 Jul 2024).

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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