Australian Equities Bear Hedge Fund

OVERVIEW

About

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

Designed to go up when the market goes down (and vice versa)
A 1% fall in the Australian sharemarket on a given day can generally be expected to deliver a 0.9% to 1.1% increase in the value of the Fund (and vice versa)
Hedge portfolios against falling markets via an efficient use of capital
Can be used to seek profits when markets decline
No need to borrow shares or use proprietary trading platforms in order to obtain a magnified short exposure
Alternative to CFDs
Actively managed

Advantages

Access – obtain returns that are negatively correlated to Australian sharemarket as simply as buying any share
Convenience – investors avoid complications and costs of CFDs, futures and short selling
No margin calls for investors – cannot lose more than initial investment
Liquidity – available to trade on ASX like any share
SMSF eligible

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

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KEY FACTS

Pricing Information 17 July 2018

Current Price
Last Trade*	$13.42
% Change (prev day)	0.52%
Bid (delayed)	$13.33
Offer (delayed)	$13.50
iNAV (live)** iNAV stands for Indicative Net Asset Value. It is updated every 60 seconds and provides an estimate of the net asset value of the Fund during the trading day	$13.418

*Data is delayed by at least 20 minutes.

** As at 16 July 2018 04:29 PM

Download NAV history

NAV
NAV/Unit *	$13.36

* As at 13 July 2018

Profile

Net Assets* ($A)	$50,689,465
Units Outstanding* (#)	3,795,099
Mgmt Costs** (% p.a.)	1.38%
Distribution Frequency	Annual
Distribution Reinvestment Plan (DRP)	Not available
Issuer	BetaShares Capital Ltd
Fund Administrator	RBC Investor Services
Custodian	RBC Investor Services
Registry	Link Market Services
Auditor	KPMG

* As at 13 July 2018

**Certain additional costs apply. Please refer to PDS.

Trading Information

ASX Code	BEAR
Bloomberg Code	BEAR AU
IRESS Code	BEAR.AXW
Trading Hours	10.00-16.00 (AEST)
iNAV IRESS Code	BEARINAV.ETF
Market Makers	Susquehanna Pacific
SMSF Eligible	Yes

Index Information

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

Portfolio Composition

Name	%
1 Cash & Cash Equivalents*	100%

* May comprise cash, ASX-quoted cash trusts and cash on margin accounts

Portfolio Exposure

SPI Futures*	-101.5%
Current Portfolio Exposure ** (%)	-101.5%

* As at 17 July 2018

* Represents the Fund's approximate exposure, for the above date, to movements in the S&P/ASX 200 Acc 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 Acc 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.

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PERFORMANCE

Fund Returns After Fees (%)

	Fund	S&P/ASX 200 Accum. Index
1 month	-3.35%	3.27%
3 months	-7.76%	8.47%
6 months	-3.32%	4.29%
1 year	-10.28%	13.01%
3 year p.a	-7.96%	9.04%
5 year p.a	-7.92%	9.97%
Since inception (p.a)	-9.04%	11.75%
Inception date	6-Jul-12	-

* As at 30 June 2018

Chart

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.

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DISTRIBUTIONS

Yield Information

Distribution Frequency	Annual
12 Mth Distribution Yield* (%)	-
12 Mth Gross Distribution Yield* (%)	-
Franking Level	-

*As at 30 June 2018. 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)
1-Jul-16	4-Jul-16	18-Jul-16	$0.16857	0.98%

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.

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ANNOUNCEMENTS

ASX Announcements: BEAR

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RESOURCES

	Factsheet - BEAR	Download
	Introduction to BetaShares Bear Hedge Fund Series	Download
	Product Disclosure Statement - BEAR	Download
	Portfolio Holdings - BEAR	Download
	Notice of Proposed Modifications to Fund Constitution – AMIT Tax Regime	Download
	Annual Hedge Fund Report 31 December 2016	Download
	Annual Report - June 2017	Download
	2018 Distribution Calendar	Download
	Interim Financial Report	Download