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Our flagship large cap fund. The Australian Share Fund was launched in 1998 and is now co-managed by Hugh Giddy and Daniel Moore. It follows our proven quality and value investment philosophy to identify and invest in high quality Australian companies listed on the ASX, typically with market caps above A$1 billion, at reasonable valuations. The Fund aims to provide investors with robust capital growth and income over the medium to long term.
- Suitable for: investors wanting attractive capital growth and income through exposure to Australian large cap companies
- Invests in: 40-60 high-quality large-cap companies listed on the ASX
- Investment timeframe: 4+ years
- Investment objective: exceed the returns of the ASX 300 Accumulation index on a rolling four-year basis.
Fund Facts
| Portfolio Managers | Hugh Giddy & Daniel Moore |
| Benchmark | S&P/ASX 300 Accumulation Index |
| Inception | 30 June 1998 |
| ARSN | 093 182 695 |
| APIR | IML0002AU |
| Distribution frequency | Generally semi-annually |
| Peformance fee | nil |
| Management fee | 0.993% p.a. of the net assets of the fund (includes net effect of GST) |
Performance
| 1mth | 3mth | 6mth | 1yr | 2yrs^ | 3yrs^ | 5yrs^ | 10yrs^ | Since inception^ |
|
|---|---|---|---|---|---|---|---|---|---|
| Income | 0.0% | 0.0% | 8.1% | 11.1% | 8.4% | 9.3% | 8.0% | 6.7% | 5.7% |
| Growth | -1.5% | -1.1% | -3.2% | 4.4% | -1.0% | -3.7% | -3.0% | -0.6% | 3.9% |
| Total Return | -1.5% | -1.1% | 4.9% | 15.5% | 7.4% | 5.6% | 5.0% | 6.1% | 9.6% |
| Benchmark* | -1.3% | 2.2% | 8.3% | 24.9% | 13.1% | 7.6% | 8.1% | 8.3% | 8.8% |
^ Performance per annum
* The benchmark for this fund is the S&P/ASX 300 Accumulation Index.
Fund returns are calculated using the exit price, net of management fees, assuming all distributions are reinvested with no allowance for tax. Past performance is not a reliable indicator future performance.
Disclaimer: This graph represents the dollar value of your investment if you had invested $10,000 (or your chosen amount) given your chosen time horizon versus the benchmark for the Fund with the same dollar value invested and time horizon. The fund dollar value is based upon performance for the fund, which has been calculated using the exit price, net of management fees and assuming the reinvestment of distributions. No allowance has been made for tax. The RE does not guarantee the performance of any Fund, repayment of capital or any particular rate of return. Past performance is not a reliable indicator future performance. Returns can be volatile, reflecting rises and falls in the value of the underlying investments. Investors should seek independent advice as to the suitability of the Fund to their investment needs. This is general information only and does not take into account your objectives, financial situation or needs.
Sector and stocks
The Global Industry Classification Standard (“GICS”) was developed by and is the exclusive property and a service mark of Morgan Stanley Capital International Inc, (“MSCI”) and Standard & Poor’s, a division of The McGraw-Hill Companies, Inc. (“S&P”) and is licensed for use by [Licensee]. Neither MSCI, S&P nor any third party involved in making or compiling the GICS or any GICS classifications makes any express or impIied warranties or representations with respect to such standard or classification (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability and fitness for a particular purpose with respect to any or such standard or classification, Without limiting any or the foregoing, in no event shall MSCI, S&P, any of their affiliates or any third party involved in making or compiling the GICS or any GICS classifications have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.
| Company Name | ASX code | Sector | % weight |
|---|---|---|---|
| CSL Limited | CSL | Health Care | 10.8% |
| Commonwealth Bank of Australia | CBA | Financials | 9.4% |
| Telstra Group Limited | TLS | Communication Services | 7.5% |
| BHP Group Limited | BHP | Materials | 7.0% |
| Brambles Limited | BXB | Industrials | 5.3% |
| The Lottery Corporation Limited | TLC | Consumer Discretionary | 4.6% |
| Aurizon Holdings Limited | AZJ | Industrials | 4.2% |
| Suncorp Group Limited | SUN | Financials | 4.2% |
| Steadfast Group Limited | SDF | Financials | 4.0% |
| National Australia Bank Limited | NAB | Financials | 4.0% |
Fund holdings as at 31 Oct 2024
The Global Industry Classification Standard (“GICS”) was developed by and is the exclusive property and a service mark of Morgan Stanley Capital International Inc, (“MSCI”) and Standard & Poor’s, a division of The McGraw-Hill Companies, Inc. (“S&P”) and is licensed for use by [Licensee]. Neither MSCI, S&P nor any third party involved in making or compiling the GICS or any GICS classifications makes any express or impIied warranties or representations with respect to such standard or classification (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability and fitness for a particular purpose with respect to any or such standard or classification, Without limiting any or the foregoing, in no event shall MSCI, S&P, any of their affiliates or any third party involved in making or compiling the GICS or any GICS classifications have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.
Unit Prices
| Date | Entry | Exit |
|---|---|---|
| 20 Nov 2024 | $2.7893 | $2.7753 |
| 19 Nov 2024 | $2.8099 | $2.7959 |
| 18 Nov 2024 | $2.7872 | $2.7732 |
| 15 Nov 2024 | $2.7846 | $2.7708 |
| 14 Nov 2024 | $2.7722 | $2.7584 |
These are historical entry and exit prices, based upon our most recent valuation, however you may not receive these prices should you apply for, or redeem units on or after the time of this communication. Cut-off times for applications and redemptions are set out in the product disclosure statement of the fund.
IML does not guarantee the performance of any Fund, repayment of capital or any particular rate of return. Performance returns are calculated using the exit price, net of management fees and assuming the reinvestment of distributions. No allowance is made for tax. Past performance is not a reliable indicator of future performance. Returns can be volatile, reflecting rises and falls in the value of the underlying investments. Investors should seek independent advice as to the suitability of the Fund to their investment needs. This is general information only and does not take into account your objectives, financial situation or needs.
Distribution information
| Period ending | Amount (cents per unit) |
|---|---|
| June 2024 | 21.9200 cpu |
| December 2023 | 6.0000 cpu |
| June 2023 | 12.1158 cpu |
| December 2022 | 6.0000 cpu |
| June 2022 | 25.5337 cpu |
| December 2021 | 6.0000 cpu |
| June 2021 | 12.8660 cpu |
| December 2020 | 3.0000 cpu |
For more information please refer to our Performance page – distributions and reports.
Past performance is not a reliable indicator of future performance as a result past distributions are not indicative of future distributions.
Past performance is not a reliable indicator of future performance as a result past distributions are not indicative of future distributions.
| Franking level (%) | ||||
|---|---|---|---|---|
| FY23 | FY22 | FY21 | FY20 | FY19 |
| 48.9% | 30.2% | 36.3% | 41.6% | 39.6% |
This is not tax advice. it is important that you seek professional taxation advice that takes into account your particular circumstances before you invest or deal with your investment.
Ratings and awards
How to invest
Direct investors can click Invest Now for a step-by-step guide to investing with IML.
The Australian Share Fund is also available on these platforms
AMP North | ANZ/IOOF Oasis | Asgard | BT Panorama | CFS Firstchoice | CFS Firstwrap | Growwrap | Hub 24 | Infocus | Insignia Expand | Insignia Pursuit | Insignia Rhythm | Linear | Macquarie Wrap | Mason Stevens | MLC Masterkey | Netwealth | OnePath OneAnswer | Perpetual Wealthfocus | Portfolio Care | Powerwap | Praemium | Sandhurst | Dash
© 2024 Morningstar, Inc. All rights reserved. Neither Morningstar, its affiliates, nor the content providers guarantee the data or content contained herein to be accurate, complete or timely nor will they have any liability for its use or distribution. This report or data has been prepared for clients of Morningstar Australasia Pty Ltd (ABN: 95 090 665 544, AFSL: 240892) and/or New Zealand wholesale clients of Morningstar Research Ltd, subsidiaries of Morningstar, Inc. Any general advice has been provided without reference to your financial objectives, situation or needs. For more information refer to our Financial Services Guide at www.morningstar.com.au/s/fsg.pdf. You should consider the advice in light of these matters and if applicable, the relevant Product Disclosure Statement before making any decision to invest. Morningstar’s publications, ratings and products should be viewed as an additional investment resource, not as your sole source of information. Morningstar’s full research reports are the source of any Morningstar Ratings and are available from Morningstar or your adviser. Past performance does not necessarily indicate a financial product’s future performance. To obtain advice tailored to your situation, contact a financial adviser.
The Zenith Investment Partners (“Zenith”) Australian Financial Services License No. 226872 rating (assigned 24 June 2024) referred to in this document is limited to “General Advice” (as defined by the Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Zenith usually charges the product issuer, fund manager or a related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessment’s and at http://www.zenithpartners.com.au/RegulatoryGuidelines
The rating issued 10/2024 is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445 (Lonsec). Ratings are general advice only, and have been prepared without taking account of your objectives, financial situation or needs. Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and Lonsec assumes no obligation to update. Lonsec uses objective criteria and receives a fee from the Fund Manager. Visit lonsec.com.au for ratings information and to access the full report. © 2022 Lonsec. All rights reserved.
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