Talaria Global Equity Fund - Currency Hedged (Managed Fund)

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Talaria Global Equity Fund - Currency Hedged (Managed Fund) Chi-X: TLRH

Since November 2021, investors have been able to invest in the Talaria Global Equity Fund – Currency Hedged (Managed Fund) via Chi-X Australia (TLRH). TLRH is the ticker code for investors wishing to invest in units of the Fund.

The Fund, also known as an active ETF, is accessed via your share trading platform, stockbroker or financial adviser.

You have a choice as to whether you apply for and redeem units via the responsible entity (RE) or buy and sell units on Chi-X in the same way you buy other publicly listed ETFs and shares. 

TLRH units should generally trade on Chi-X close to the prevailing Net Asset Value during the Chi-X trading day (subject to the market bid/offer spread). 

You can buy and sell units off market with the Responsible Entity at the prevailing end of day Net Asset Value (subject to transaction costs and spreads).

 

Ticker: TLRH

iNAV:
$5.2154
As of 01/12/2021 04:59:59pm AEDT
NAV:
$5.1979
As of 30/11/2021

About Active ETFs

Active ETFs are actively managed by fund managers to generate alpha and outperform relevant benchmarks. They are also sometimes known as Exchange Quoted Managed Funds (EQMFs), Exchange Traded Managed Funds (ETMF), listed managed funds or quoted managed funds.

They operate in a similar way to traditional managed funds but have the benefit of transparent, live intra-day pricing and market-making capability. 

Talaria ETF Fact Sheet

Benefits of an active ETF

Simple - Click to buy on the stock exchange, easy to switch between quoted and unquoted units.

Accessible - No minimum investment amount.

Liquid - Investors can buy/sell intraday on the ASX.

Transparent - Live trading price, quarterly full portfolio disclosure.


Video: The simple process of trading
in Talaria's active ETFs

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An indicative NAV per Unit (“iNAV”) will be published by the Fund throughout the Trading Day. The published iNAV is indicative only and might not be up to date or might not accurately reflect the underlying value of the Fund. The price at which the units in the Fund trade on the Securities Exchange may not reflect accurately the NAV of each such unit. The adoption of a robust pricing methodology for the iNAV is intended to minimise this differential, as is the role of the market maker, but will not be able to eliminate it entirely. The market price and iNAV price may also deviate because the market price of the units in the Fund is a function of supply and demand amongst investors wishing to buy and sell such units and the bid-offer spread the market maker is willing to quote for those units. To the extent permitted by law, neither the Issuer or its appointed agent shall be liable to any person who relies on the iNAV. IOPVs / iNAVs are calculated by Solactive AG (Solactive). The Funds and other financial instruments issued or managed by AUFM are not sponsored, endorsed, promoted or sold by Solactive in any way and Solactive makes no express or implied representation, guarantee or assurance with regard to the IOPVs / iNAVs or the Funds and other financial instruments.

A currency hedged version of our investment strategy that reduces exposure to foreign currency movements.

Our investment strategy seeks to increase the certainty of global equity returns for investors.

We deliver this through our:

  • Unique and structurally lower-risk investment approach that combines capital growth
    and income generation to deliver a more consistent return profile (smoothing).
  • Portfolio of up to 45 large, globally listed companies.
  • Internationally experienced and personally invested leadership team.

We believe the most compelling way to compound clients’ wealth is by utilising multiple return sources to deliver superior risk-adjusted investment outcomes

Research
Risk
Management
Income & distributions
Compounding
Wealth
  • Long-term compounding of investor wealth
  • Multiple sources of return
  • Quarterly distributions
  • Risk focused investment mindset

The investment process behind the Talaria Global Equity Fund takes a high conviction, value biased approach to construct a portfolio of high quality, large cap companies from around the globe. Our unique investment methodology harnesses the benefits of consistent income generation and capital appreciation to grow investors’ real wealth.

Performance

As at 31/10/20211


1 Month

3 Months

6 Months

1 Year

3 Years (pa)

5 Years (pa)

Since Inception (pa)2

Total Return

1.95

3.24

5.47

27.30

7.39

7.43

7.44

Growth %

1.95

3.24

-0.95

16.07

2.20

1.33

0.85

Income %

0.00

0.00

6.43

11.23

5.19

6.10

6.60

Average Market Exposure5

62%

59%

57%

55%

56%

58%

59%

Download historical distributions

1 Fund Returns are calculated after fees and expenses and assume the reinvestment of distributions.
2 Inception date for performance calculation is 31 December 2012.
3 Income includes realised capital gains.
4 Past performance is not a reliable indicator of future performance.
5 Average Market Exposure calculated on delta-adjusted exposure of underlying portfolio. Since inception market exposure is calculated from September 2008.

Distribution History

Frequency

End Period

Cents per Unit

Reinvestment Price

Quarterly

30-Jun-21

33.783

$5.206

Quarterly

31-Mar-21

8.500

$5.336

Quarterly

31-Dec-20

7.000

$5.0885

Quarterly

30-Sept-20

7.000

$4.6795

Quarterly

30-Jun-20

19.834

$4.677

Quarterly

30-Jun-18

0.500

$5.127

Growth of $10,000 since inception6

Annual Distributions7

6 Calculations are based on exit price, net of management fees and expenses and assumes reinvestment of distributions. Past performance is not a reliable indicator of future performance.
7 Illustrates Distribution Returns for the Talaria Global Equity Fund – Wholesale Units for the financial year ending 30 June 2021. Inception date is 18 August 2008.

Top 10 holdings8

Company Name

Holding %

Country

Sector

Description

Sodexo

4.7

France

Consumer Discretionary

A multinational food services and facilities management company

Prudential

4.6

USA

Financials

Largest Life Insurance company in the USA

Sanofi

4.5

France

Healthcare

Top 5 pharmaceutical firm with leading positions in diabetes and rare diseases

Johnson & Johnson

4.5

USA

Healthcare

Pharmaceutical, medical devices and consumer health products company

Secom

4.1

Japan

Industrials

Japan's largest protective and electronic security solutions provider

McKesson

4.0

USA

Health Care

Largest pharmaceutical distributor in North America

Mitsubishi Electric

3.7

Japan

Industrials

One of Japan’s largest industrial conglomerates

Total

3.6

France

Energy

One of the largest oil and gas companies in the world

Omnicom

3.6

USA

Communication Services

Global advertising and marketing services

Swiss Re

3.6

Switzerland

Financials

Global reinsurance company

8 Weightings include option positions held and cash backing put options. It assumes that put options will be exercised. Should the put option not be exercised the cash will revert to the unencumbered cash portfolio or may be used to cover further put options.

Sector Allocation9

Regional Allocation10

9,10 Weightings include option positions held and cash backing put options. It assumes that put options will be exercised. Should the put option not be exercised the cash will revert to the unencumbered cash portfolio or may be used to cover further put options.

Fund Snapshot

APIR Code

WFS0547AU

Inception Date

31 December 2012

Management Fee

1.20% p.a.

Liquidity

Daily

Buy / Sell Spread

0.25% / 0.25%

Distributions

Quarterly

Recoverable Expenses

0.12% of the net asset value of the Fund for the financial year

Major Platform Availability

Asgard, Ausmaq, BT Wrap, BT Panorama, Hub24, IOOF, Linear, Macquarie, Netwealth, Powerwrap, Praemium, Grow Wrap, Mason Stevens

Important Notice

    • Units in the Talaria Global Equity Fund – Currency Hedged (Managed Fund) are issued by Australian Unity Funds Management Limited (ABN 60 071 497 115, AFS Licence No. 234454) the Responsible Entity for the Fund.
    • Talaria Asset Management Pty Ltd (ABN 67 130 534 342, AFS Licence No. 333732) is the investment manager of the Fund. The information in this document is general information only and is not based on the financial objectives, situation or needs of any particular investor.

Units in the Talaria Global Equity Fund – Currency Hedged (Managed Fund) (the Fund) are issued by Australian Unity Funds Management Limited ABN 60 071 497 115, AFS Licence No. 234454.Talaria Asset Management Pty Ltd ABN 67 130 534 342, AFS Licence No, 333732 is the investment manager and distributor of the Fund. References to “we” means Talaria Asset Management Pty Ltd, the investment manager. The information in this document is general information only and is not based on the objectives, financial situation or needs of any particular investor. In deciding whether to acquire, hold or dispose of the product you should obtain a copy of the current ProductDisclosure Statement (PDS) for the Fund and consider whether the product is appropriate for you. A copy of the PDS is available at australianunity.com.au/wealthor by calling Australian Unity Wealth Investor Services team on 13 29 39. Investment decisions should not be made upon the basis of the Fund’s past performance or distribution rate, or any ratings given by a rating agency, since each of these can vary. In addition, ratings need to be understood in the context of the full report issued by the rating agency itself. The information provided in the document is current at the time of publication.

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