Registry LOGINFund Overview
Our Small Cap Fund has been rewarding investors with attractive returns and income since its inception in 2007. The fund primarily invests in high-quality, undervalued companies outside the ASX100, but allows select exposure (25%) of its holdings to be within the largest 50-100 shares in the ASX. It is managed by Simon Conn.
- Suitable for: investors wanting attractive capital growth and income
- Invests in: 50-70 Australian companies outside the ASX 50
- Investment timeframe: 4+ years
- Investment objective: exceed the returns of the S&P/ASX Small Ordinaries Accumulation Index on a rolling four-year basis.
Fund Facts
| Portfolio Managers | Simon Conn |
| Benchmark | S&P/ASX Small Ordinaries Accumulation Index |
| Inception | 1 Feb 2007 |
| ARSN | 122 918 496 |
| APIR | IML0006AU |
| Distribution frequency | Generally semi-annually |
| Peformance fee | 10.25% (10% inclusive of the net effect of GST) of investment returns made in excess of 2% above Benchmark. |
| Management fee | 1.15% 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% | 1.6% | 4.1% | 2.7% | 2.4% | 3.6% | 6.6% | 5.7% |
| Growth | 4.0% | -2.0% | 5.2% | 4.7% | -6.9% | 1.2% | 1.0% | 1.4% | 2.3% |
| Total Return | 4.0% | -2.0% | 6.8% | 8.8% | -4.2% | 3.6% | 4.6% | 8.0% | 8.0% |
| Benchmark* | 7.0% | -2.9% | -0.7% | -3.2% | -8.8% | -0.5% | 4.0% | 5.5% | 1.7% |
^ Performance per annum
* The benchmark for this fund is the S&P/ASX Small Ordinaries 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.
Sector and stocks
| Company Name | ASX code | Sector | % weight |
|---|---|---|---|
| Aurizon Holdings Limited | AZJ | Industrials | 4.5% |
| A2B Australia Limited | A2B | Industrials | 4.5% |
| Clearview Wealth Limited | CVW | Financials | 3.6% |
| SG Fleet Group Limited | SGF | Industrials | 3.6% |
| Skycity Entertainment Group Limited | SKC | Consumer Discretionary | 3.4% |
| Ampol Limited | ALD | Energy | 3.0% |
| Bega Cheese Limited | BGA | Consumer Staples | 2.9% |
| Kelsian Group Limited | KLS | Industrials | 2.9% |
| Australian Clinical Labs Limited | ACL | Health Care | 2.8% |
| EQT Holdings Limited | EQT | Financials | 2.6% |
Fund holdings as at 30 Nov 2023
Unit Prices
| Date | Entry | Exit |
|---|---|---|
| 07 Dec 2023 | $1.4780 | $1.4706 |
| 06 Dec 2023 | $1.4739 | $1.4665 |
| 05 Dec 2023 | $1.4490 | $1.4418 |
| 04 Dec 2023 | $1.4637 | $1.4564 |
| 01 Dec 2023 | $1.4562 | $1.4490 |
Distribution information
| Period ending | Amount (cents per unit) |
|---|---|
| June 2023 | 2.2448 cpu |
| December 2022 | 3.0000 cpu |
| June 2022 | 1.7729 cpu |
| December 2021 | 1.0000 cpu |
| June 2021 | 1.0255 cpu |
| December 2020 | 1.0000 cpu |
| June 2020 | 0.2833 cpu |
| December 2019 | 3.5000 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 (%) | ||||
|---|---|---|---|---|
| FY22 | FY21 | FY20 | FY19 | FY18 |
| 110.4% | 116.2% | 105.9% | 50.1% | 28.0% |
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
Morningstar - Silver
2019 Zenith Fund Awards - Finalist
Financial Standard Investment Leadership Awards
How to invest
Direct investors can click Invest Now for a step-by-step guide to investing with IML. The Small Cap Fund is also available on the following platforms:
Asgard | BT Panorama | Hub 24 | IOOF Pursuit | IOOF Rhythm | Macquarie Wrap | Netwealth
© 2023 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. Any general advice or ‘class service’ have been prepared by Morningstar Australasia Pty Ltd (ABN: 95 090 665 544, AFSL: 240892) and/or Morningstar Research Ltd, subsidiaries of Morningstar, Inc, without reference to your objectives, financial situation or needs. Refer to our Financial Services Guide (FSG) for more information 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. Our publications, ratings and products should be viewed as an additional investment resource, not as your sole source of information. Past performance does not necessarily indicate a financial product’s future performance. To obtain advice tailored to your situation, contact a professional financial adviser.
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