Australian Equities Strong Bear Hedge Fund

OVERVIEW

About

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

A 1% fall in the Australian share market on a given day can generally be expected to deliver a 2.0% to 2.75% 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

Gearing magnifies gains and losses and may not be a suitable strategy for all investors.

Advantages

Access – obtain magnified 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

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 20 September 2017

Current Price
Last Trade*	$17.51
% Change (prev day)	0.4%
Bid (delayed)	$17.49
Offer (delayed)	$17.67
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	$17.494

*Data is delayed by at least 20 minutes.

NAV
NAV/Unit *	$17.44

* As at 19 September 2017

Profile

Net Assets* ($A)	$102,914,009
Units Outstanding* (#)	5,900,000
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 19 September 2017

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

Trading Information

ASX Code	BBOZ
Bloomberg Code	BBOZ AU
IRESS Code	BBOZ.AXW
Trading Hours	10.00-16.00 (AEST)
iNAV IRESS Code	BBOZINAV.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

The Fund's Portfolio may comprise cash, cash equivalents and a short futures position in ASX SPI 200 futures. For full details see our resources section

Short Exposure

Range* (%)	-200% to -275%
Current Portfolio Exposure ** (%)	-236.4%

* As at 20 September 2017

*Calculated as the Fund's short exposure to the S&P/ASX 200 Acc Index as a percentage of the Fund's net asset value.
**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 contract held in the Fund. For example, if the Fund's Portfolio Exposure is -230% (or -2.30x) and the S&P/ASX 200 Index goes down 1% that day, the Fund would be expected to go up approximately 2.30% 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	-1.12%	0.71%
3 months	-0.28%	0.87%
6 months	-3.21%	2.40%
1 year	-20.16%	9.79%
3 year p.a	-	-
5 year p.a	-	-
Since inception (p.a)	-10.36%	3.37%
Inception date	17-Apr-15	-

* As at 31 August 2017

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 of 31 August 2017. Yield figures are calculated by summing the prior 12 month fund per unit distributions divided by the fund closing NAV per unit. Past performance is not an indicator of future performance.

Recent Distributions

Ex Date	Record Date	Payment Date	Distribution Unit ($)	Annual Distribution Return (%) (1)
1-Jul-15	3-Jul-15	20-Jul-15	$2.41389	-

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: BBOZ

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RESOURCES

	Factsheet - BBOZ	Download
	Introduction to BetaShares Bear Hedge Fund Series	Download
	Product Disclosure Statement - BBOZ	Download
	Portfolio Holdings	Download
	PDS Updates - BBOZ	Download
	Annual Financial Report June 2016	Download
	Supplementary Product Disclosure Statement - November 2016	Download
	Annual Hedge Fund Report 31 Dec 2016	Download
	31 December 2016 Interim Financial Report - Bear Funds	Download