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BetaShares Australian Equities Bear Hedge Fund (BEAR)

Objective

The Bear Fund provides investors with a simple way to profit from, or protect against, a decline of the Australian share market. The Fund seeks to generate returns that are negatively correlated to the returns of the Australian share market (as measured by the S&P/ASX 200 index).

Australian Equities Bear Fund - Overview

About

Gives investors a simple and accessible way to obtain 'short' exposure to the market

  • The first managed fund in Australia designed to go up when the market goes down (and vice versa)
  • No need to borrow shares or use proprietary trading platforms in order to obtain a short exposure
  • Can be used to seek profits when markets decline
  • Hedge portfolios against falling markets
  • Actively managed
  • Advantages

  • Access: obtain returns that are negatively correlated to Australian sharemarket as simply as buying a share
  • Convenience:avoid complications and costs of CFDs, futures and short selling
  • Liquid: trade on ASX throughout the day
  • Risk Management: no risk of margin calls for investors, cannot lose more than initial investment
  • SMSF eligible
  • How to Invest

    The Bear Fund is a managed fund whose units can be bought and sold on the ASX

  • You can buy or sell units just like you'd buy or sell any share on the ASX
  • No minimum investment
  • Trade throughout the ASX trading day
  • Pricing Information - 25-Jul-2016

    Current Price NAV
    Last Trade* $16.26 NAV/Unit* $16.18
    % Change (prev day) 0.56% *As of close of previous trading day
    Bid* (delayed) $16.20    
    Offer* (delayed) $16.49    
    iNAV (live)    
    *Data is delayed by at least 20 minutes.
    What is an iNAV

    iNAV stands for Indicative Net Asset Value. It is updated every 60 seconds and provides an estimate of the NAV of the ETF during the trading day

    Profile - 25-Jul-2016

    Net Assets* ($A) $53,307,026
    Units Outstanding* (#) 3,295,099
    Mgmt Fee** (% p.a.) 1.19%
    Distribution Frequency Annual
    Issuer BetaShares Capital Ltd
    Fund Administrator RBC Investor Services
    Custodian RBC Investor Services
    Registry Link Market Services
    Auditor KPMG
    * As of close of previous trading day
    **Certain additional costs apply. Please refer to PDS.

    Trading Information

    Exchange ASX
    ASX Code BEAR
    Bloomberg Code BEAR AU
    IRESS Code BEAR.AXW
    Currency AUD
    Trading Hours 10.00-16.00 (AEST)
    iNAV IRESS Code BEARINAV.ETF
    Authorised Participants 5
    Market Makers Susquehanna Pacfic
    Marginable Check with your broker
    Short Selling Check with your broker
    SMSF Eligible Yes

    Index Information

    Index N/A
    Index Provider N/A
    Index Ticker N/A
    Bloomberg Index Ticker N/A

    Portfolio Composition - 25-Jul-2016

    Name %
    1 Cash & Cash Equivalents* 100 %
       
    * May comprise cash, ASX-quoted cash trusts and cash on margin accounts

    Portfolio Exposure - 25-Jul-2016

    SPI Futures -106.9%
    Current Portfolio Exposure**(%) -106.9%
    * Represents the Fund's approximate exposure, for the above date, to movements in the S&P/ASX 200 Index, as measured by the futures contracts held in the Fund. For example, if the Fund's portfolio exposure is -105%, and the S&P/ASX 200 index goes down 1% that day, the Fund would be expected to go up approximately 1.05% that day, before fees and expenses. The Fund is actively managed and the portfolio exposure will change on a daily basis, affecting returns over time.

    Fund Returns After Fees (%)

    1 month 3 month 6 month 1 year 3 year p.a 5 year p.a Since Inception (p.a.) Inception Date
    Fund 2.77 % -3.48 % -0.41 % -1.11 % -5.66 % - -7.93 % 6-Jul-12
    S&P/ASX 200 Accum. Index -2.45 % 3.94 % 1.09 % 0.56 % 7.65 % - 10.85 % -
    * As at 30 June 2016
    Past performance is not an indicator of future performance. Returns are calculated in Australian dollars using net asset value per unit at the start and end of the specified period and do not reflect brokerage or the bid ask spread that investors incur when buying and selling units on the ASX. Returns are after fund management costs, assume reinvestment of any distributions and do not take into account tax paid as an investor in the Fund. Returns for periods longer than one year are annualised. Current performance may be higher or lower than the performance shown.

    Yield Information

    Distribution Frequency Annual
    Yield
    12 Mth Distribution Yield* (%) 1.0%
    12 Mth Gross Distribution Yield* (%)
    *As at 30 June 2016. Yield figures calculated by summing the prior
    12 month net and gross fund per unit distributions divided by the
    fund closing NAV per unit

    Recent Distributions

    Ex Date Record Date Payment Date Distribution
    Unit ($)
    Annual Distribution Return (%) (1)
    01-Jul-2016 04-Jul-2016 18-Jul-2016 $0.16857
    1 This is the annual distribution return to the end of the relevant distribution date. The distribution return reflects the contribution to total investment return made by the Fund's distributions. It is calculated as the difference between total Fund return and NAV return. NAV return is the change in the Fund's NAV price. Total return is the NAV return plus reinvestment of all distributions back to the Fund. Past performance not indicative of future performance.
    Factsheet
    Product Disclosure Statement
    Introduction to BetaShares Australian Bear Hedge Fund Series
    Half Year Report - December 2014
    Supplementary Product Disclosure Statement - July 2014
    Supplementary Product Disclosure Statement - March 2014
    Annual Hedge Fund Report – 31 December 2015
    Number of Outstanding Units – March 2016
    Interim Financial Report - December 2015

    iNAV is an indicative estimate only, may not reflect the true value of a unit and may be materially out of date at the time viewed. It should not be relied on in making any investment decision. See Terms and Conditions for more information.

    An investment in units of any BetaShares Fund is subject to risk, which may include possible delays in repayment and loss of income and capital invested. The value of units may go down as well as up. Past performance is not an indication of future performance. Before making an investment decision you should consider the relevant PDS (available on this website) with a financial advisor to determine if it is appropriate for your circumstances. Commodity ETFs: The index which each BetaShares commodity ETF aims to track is based on the price of futures contracts.  Investing in commodity futures is not the same as investing in the “spot price” of a given commodity. The ETFs do not aim to, and should not be expected to, provide the same return as the performance of the spot price of the relevant commodities. The performance of ETFs that are linked to commodity futures may be materially different to the spot price for the commodity itself. Also, differences in trading hours of the underlying futures markets and their corresponding BetaShares ETFs may at certain times cause the difference between bid prices and offer prices on the ASX to widen significantly. Investors should carefully consider this potential impact before trading. Please refer to the "Risks" section of the PDS for more information about these and other risk factors. AMP Capital exchange traded managed funds: BetaShares Capital Ltd (ACN 139 566 868, AFSL 341181 ("BetaShares") is the responsible entity and the issuer of units in the AMP CAPITAL GLOBAL PROPERTY SECURITIES FUND (UNHEDGED) (MANAGED FUND) and AMP CAPITAL GLOBAL INFRASTRUCTURE SECURITIES FUND (UNHEDGED) (MANAGED FUND). AMP Capital Investors Ltd (ABN 59 001 777 591, AFSL 232497) (“AMP Capital”) is the investment manager of the Funds and has been appointed by the responsible entity to provide investment management and associated services in respect of the Funds. Neither BetaShares, AMP Capital, nor any other company in the AMP Group guarantees the repayment of capital or the performance of any product or any particular rate of return referred to in this information.

    “WisdomTree” is a registered trademark of WisdomTree Investments, Inc. WisdomTree Investments, Inc. makes no representation or warranty, express or implied, regarding the advisability of investing in securities generally or BetaShares WisdomTree Europe ETF – Currency Hedged or BetaShares WisdomTree Japan ETF – Currency Hedged in particular. Neither WisdomTree Investments nor any of its affiliates are involved in the operation or distribution of these Funds and neither WisdomTree Investments nor its affiliates shall have any liability for operation or distribution of these Funds or the failure of these Funds to achieve their investment objectives.