The Coolabah Active Global Bond PIE Fund aims to provide investors with long-term capital growth and income through exposure to a diversified portfolio of global investment grade fixed income securities. The Fund's objective is to achieve returns, after fees and before tax, in excess of the Bloomberg Global Aggregate Corporate Index (hedged to NZD) by 1.0% to 2.0% per annum over rolling three-year periods.
The Fund currently gains its investment exposure through an underlying fund managed by Coolabah Capital Investments. The underlying fund actively invests in global corporate bond markets and may utilise derivatives, short positions, borrowing and repurchase agreements to take advantage of perceived market mispricing opportunities. The Fund targets a position of being fully hedged back to New Zealand dollars.
Investment Manager
Coolabah Capital Investments (Retail) Pty Limited.
Investment Policy and Objectives
The Fund targets investment returns, after fees and before tax, in excess of the Bloomberg Global Aggregate Corporate Index (hedged to NZD) by 1.0% to 2.0% per annum over rolling three-year periods. The Fund invests primarily in international fixed interest securities through an actively managed strategy focused on identifying mispricings within liquid investment grade bond markets.
Investment Strategy
The Fund invests predominantly in international fixed interest securities through an underlying fund managed by Coolabah. The underlying fund employs an active fixed income strategy that seeks to generate returns from identifying valuation opportunities across global corporate bond markets. The strategy may utilise long and short positions, derivatives, repurchase agreements and borrowing, resulting in leverage being used as part of the investment process. The underlying fund may be leveraged up to 250% of net asset value and may hold short positions up to 250% of net asset value. Currency exposure is generally fully hedged back to New Zealand dollars. The target asset allocation comprises approximately 95% international fixed interest securities and 5% cash and cash equivalents.
Benchmark Index
Bloomberg Global Aggregate Corporate Index (hedged to NZD). The Fund seeks to outperform this benchmark by 1.0% to 2.0% per annum over rolling three-year periods, after fees and before tax.
Further Information
Fund updates for previous quarters are available on the Disclose Register. Choose ‘Search for an offer’ and search for ‘Coolabah Investment Funds’ as the Offer name at https://disclose-register.companiesoffice.govt.nz.
