Unit Price 16 May 2024:
Entry $2.8745
|
Exit $2.8601
Performance Since Inception at 30 Apr 2024 9.6% pa

Fund Overview

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

Net Performance as at 30 Apr 2024
1mth 3mth 6mth 1yr 2yrs^ 3yrs^ 5yrs^ 10yrs^ Since
inception^
Income 0.0% 0.0% 2.3% 6.2% 8.7% 8.1% 7.6% 6.4% 5.5%
Growth -3.7% -1.4% 7.8% -4.4% -5.5% -1.8% -2.7% -0.2% 4.1%
Total Return -3.7% -1.4% 10.1% 1.8% 3.2% 6.3% 4.9% 6.2% 9.6%
Benchmark* -2.9% 1.2% 15.3% 9.0% 5.5% 7.1% 8.0% 7.8% 8.6%

^ 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 10.4%
Telstra Group Limited TLS Communication Services 7.2%
Commonwealth Bank of Australia CBA Financials 6.7%
BHP Group Limited BHP Materials 6.2%
Orica Limited ORI Materials 5.3%
Aurizon Holdings Limited AZJ Industrials 5.1%
National Australia Bank Limited NAB Financials 4.6%
Suncorp Group Limited SUN Financials 4.3%
The Lottery Corporation Limited TLC Consumer Discretionary 4.2%
Brambles Limited BXB Industrials 4.0%

Fund holdings as at 30 Apr 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
16 May 2024 $2.8745 $2.8601
15 May 2024 $2.8498 $2.8356
14 May 2024 $2.8404 $2.8262
13 May 2024 $2.8490 $2.8348
10 May 2024 $2.8432 $2.8290

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)
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
June 2020 12.8243 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

Zenith - Recommended

Morningstar - Silver

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 29 June 2023) 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 09/2023 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.

Jason Guthrie & Bruce Du
Michael, Tuan, Lucas, Simon of IML with Money Management finalist badges
Louise Watson and Daniel Moore
Simon Conn and Jason Guthrie on IML podcast
Jason Guthrie and Daniel Moore on IML podcast
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