ASX HBRD | Active Australian Hybrids Fund | BetaShares
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OVERVIEW

Fund Objective

HBRD aims to provide investors with attractive income returns from an actively managed, diversified portfolio of primarily hybrid securities.

Fund Strategy

HBRD will invest in an actively managed portfolio of hybrid securities overseen by a professional investment manager. If the hybrids market is assessed to be overvalued or to present a heightened risk of capital loss, the Fund can allocate more of the portfolio to lower risk securities such as cash or bonds.

Benefits of HBRD

Professionally managed hybrids exposure

HBRD offers convenient exposure to a diversified portfolio of hybrids, which seeks to reduce the potential downside risk of directly holding individual hybrids.

Attractive, tax-efficient income paid monthly

HBRD pays income monthly at a rate expected to be significantly higher than cash and senior bonds, along with franking credits.

Active management

Active management by a fixed income specialist targets lower volatility and reduced risk. Fund is able to increase exposure to cash and bonds if required given market conditions in order to reduce risk.

How to Invest

  • You can buy or sell units just like you’d buy or sell any share on the ASX.
  • Fund requires no minimum investment.

KEY FACTS

Pricing Information 2 December 2021

Current Price
Last Trade* -
% Change (prev day) -
Bid (delayed) -
Offer (delayed) -
iNAV (live)**
iNAV stands for Indicative Net Asset Value. It provides an estimate of the net asset value of the Fund during the ASX trading day.
$10.238
* Data is delayed by at least 20 minutes.
* As at 2 December 2021 03:17:54 PM
Download NAV history
NAV
NAV/Unit* $10.24
* As at 1 December 2021

Profile

Net Assets* ($A) $1,532,900,583
Units Outstanding* (#) 149,669,508
Mgmt Costs** (% p.a.) 0.55%
Distribution Frequency Monthly
Distribution Reinvestment Plan (DRP) Full or partial participation available
Issuer BetaShares Capital Ltd
Investment Manager Coolabah Capital Institutional Investments Pty Ltd
Fund Administrator Citigroup Pty Limited
Custodian Citigroup Pty Limited
Registry Link Market Services
Auditor KPMG
* As at 1 December 2021
**Certain additional costs apply, including a fee of 15.5% of outperformance above a benchmark.

Trading Information

ASX Code HBRD
Bloomberg Code HBRD AU
IRESS Code HBRD.ASX
Trading Hours 10:00-16:00 (AEST)
iNAV IRESS Code HBRDINAV.ETF

Index Information

Index Solactive Australian Hybrid Securities Index
Index Provider Solactive AG
Index Ticker HBRD
Bloomberg Index Ticker SOLAUHDN Index

Portfolio Characteristics

Gross Running Yield (% p.a.)
Average annual coupon (weighted by market value) of the bonds in the portfolio, divided by the current market price of the bonds (including any accrued interest). Provides an indication of expected income receivable over the next 12 months, however it does not take into account capital gains/losses realisable when a bond is sold or matures. The gross number is inclusive of franking credits and assumes that the full benefit of franking is applicable.
3.37
Net Running Yield (% p.a.)
Average annual coupon (weighted by market value) of the bonds in the portfolio, divided by the current market price of the bonds (including any accrued interest). Provides an indication of expected income receivable over the next 12 months, however it does not take into account capital gains/losses realisable when a bond is sold or matures. The net number excludes any benefit of franking credits.
2.39
Yield to Worst (% p.a.)
The annualised total expected return of a bond if it is held to maturity or is called, the bond does not default, and the coupons are reinvested [at the Yield To Worst (YTW)]. The YTW is the lower of either YTM or Yield to Call (YTC), where YTC is calculated in the same way as YTM but replacing the maturity date with the call date. The fund's YTW is the weighted average of its underlying bonds' YTWs. The YTW for FX-hedged exposures reflects the annualised costs and benefits of FX hedging for relevant funds.
3.40
Discount Margin (bps)
The difference or spread between the expected return of a floating-rate bond and that of its underlying index, expressed as a margin above the underlying reference benchmark rate. The fund's DM is the weighted average of its underlying bonds' DMs. For AUD floating-rate bonds, the reference benchmark rate is typically the Bank Bill Swap Rate (BBSW). For bonds with optionality, this is the DM to first call, where the calculation replaces the bond maturity date with its first call date.
228.11
As at 02 December 2021

Portfolio Holdings

Name (in alphabetical order)
ANZPE
ANZPG
ANZPI
CBAPD
CBAPF
NABPF
NABPH
WBCPH
WBCPI
WBCPJ
* As at 29 October 2021. Excludes cash

Sector Allocation

Preference Shares
93.9%
Capital Notes
0.0%
Senior Bonds
0.5%
Subordinated Bonds
0.0%
Cash
5.6%
* As of 29 October 2021

PERFORMANCE

Fund Returns After Fees (%)

  Fund (Net) Fund (Gross) Index
1 month 0.54% 0.63% 0.61%
3 months 0.63% 0.76% 0.87%
6 months 1.41% 1.76% 1.52%
1 year 4.34% 5.16% 4.65%
3 year p.a 4.17% 5.14% 4.38%
5 year p.a - - -
Since inception (p.a) 4.02% 4.97% 4.15%
Inception date 13-Nov-17 - -
* As at 29 October 2021

Chart

Chart Type
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.

DISTRIBUTIONS

Yield Information

Distribution Frequency Monthly
12 Mth Distribution Yield* (%) 2.5%
12 Mth Gross Distribution Yield* (%) 3.3%
Franking Level 72.1%
*As at 29 October 2021. Yield figures are calculated by summing the prior 12 month net and gross fund per unit distributions divided by the fund closing NAV per unit. Franking level is total franking level over the last 12 months. Past performance is not an indicator of future performance.

Recent Distributions

Ex Date Record Date Payment Date Distribution Unit ($) Annual Distribution Return (%) (1)
1-Nov-21 2-Nov-21 16-Nov-21 $0.0196 2.35%
1-Oct-21 4-Oct-21 18-Oct-21 $0.0206 2.15%
1-Sep-21 2-Sep-21 16-Sep-21 $0.02235 2.17%
2-Aug-21 3-Aug-21 17-Aug-21 $0.02106 2.17%
1-Jul-21 2-Jul-21 16-Jul-21 $0.02129 2.19%
1-Jun-21 2-Jun-21 17-Jun-21 $0.02185 2.21%
3-May-21 4-May-21 18-May-21 $0.02156 2.24%
1-Apr-21 6-Apr-21 20-Apr-21 $0.02364 2.29%
1-Mar-21 2-Mar-21 16-Mar-21 $0.02011 2.32%
1-Feb-21 2-Feb-21 16-Feb-21 $0.02036 2.47%
4-Jan-21 5-Jan-21 19-Jan-21 $0.02232 2.45%
1-Dec-20 2-Dec-20 16-Dec-20 $0.02233 2.93%
2-Nov-20 3-Nov-20 17-Nov-20 $0.02148 2.95%
1-Oct-20 2-Oct-20 16-Oct-20 $0.02197 2.96%
1-Sep-20 2-Sep-20 16-Sep-20 $0.02278 3.00%
3-Aug-20 4-Aug-20 18-Aug-20 $0.02284 3.01%
1-Jul-20 2-Jul-20 16-Jul-20 $0.02475 3.05%
1-Jun-20 2-Jun-20 17-Jun-20 $0.024 3.10%
1-May-20 4-May-20 18-May-20 $0.02536 3.16%
1-Apr-20 2-Apr-20 20-Apr-20 $0.02773 3.15%
2-Mar-20 3-Mar-20 17-Mar-20 $0.02364 3.33%
3-Feb-20 4-Feb-20 18-Feb-20 $0.02635 3.46%
2-Jan-20 3-Jan-20 17-Jan-20 $0.02744 3.55%
2-Dec-19 3-Dec-19 17-Dec-19 $0.0246 3.64%
1-Nov-19 4-Nov-19 18-Nov-19 $0.02448 3.71%
1-Oct-19 2-Oct-19 16-Oct-19 $0.02607 3.81%
2-Sep-19 3-Sep-19 17-Sep-19 $0.02655 3.85%
1-Aug-19 2-Aug-19 16-Aug-19 $0.02787 3.94%
1-Jul-19 2-Jul-19 16-Jul-19 $0.02874 4.04%
3-Jun-19 4-Jun-19 19-Jun-19 $0.03156 4.07%
1-May-19 2-May-19 16-May-19 $0.03307 4.05%
1-Apr-19 2-Apr-19 16-Apr-19 $0.03175 4.07%
1-Mar-19 4-Mar-19 18-Mar-19 $0.03064 3.96%
1-Feb-19 4-Feb-19 18-Feb-19 $0.0334 3.95%
2-Jan-19 3-Jan-19 17-Jan-19 $0.03312 3.94%
3-Dec-18 4-Dec-18 18-Dec-18 $0.03136 4.08%
1-Nov-18 2-Nov-18 16-Nov-18 $0.03499 -
1-Oct-18 2-Oct-18 16-Oct-18 $0.03024 -
3-Sep-18 4-Sep-18 18-Sep-18 $0.03311 -
1-Aug-18 2-Aug-18 16-Aug-18 $0.03496 -
2-Jul-18 3-Jul-18 17-Jul-18 $0.03179 -
1-Jun-18 4-Jun-18 19-Jun-18 $0.03322 -
1-May-18 2-May-18 16-May-18 $0.03412 -
3-Apr-18 4-Apr-18 18-Apr-18 $0.03022 -
1-Mar-18 2-Mar-18 16-Mar-18 $0.02884 -
1-Feb-18 2-Feb-18 16-Feb-18 $0.03323 -
2-Jan-18 3-Jan-18 17-Jan-18 $0.04807 -
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ANNOUNCEMENTS

ASX Announcements: HBRD

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RESOURCES

Factsheet- HBRD
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Fund Flyer - HBRD
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Investor Guide to BetaShares Fixed Income Solutions
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Product Disclosure Statement - HBRD
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Product Disclosure Statement Update – 20 September 2021
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Product Disclosure Statement Updates - HBRD
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Annual Report - June 2021
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Interim Financial Report - December 2020
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NRWT and Fund Payment Notice information - October 2021 distributions
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NRWT and Fund Payment Notice information - September 2021 distributions
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NRWT and Fund Payment Notice information - August 2021 distributions
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NRWT and Fund Payment Notice information - July 2021 distributions
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NRWT and Fund Payment Notice information - June 2021 distributions
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NRWT and Fund Payment Notice information - May 2021 distributions
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NRWT and Fund Payment Notice information - April 2021 distributions
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NRWT and Fund Payment Notice information - March 2021 distributions
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NRWT and Fund Payment Notice information - February 2021 distributions
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NRWT and Fund Payment Notice information - January 2021 distributions
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NRWT and Fund Payment Notice information - December 2020 distributions
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NRWT and Fund Payment Notice information - November 2020 distributions
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NRWT and Fund Payment Notice information - October 2020 distributions
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