BetaShares Australian Investment Grade Corporate Bond ETF | CRED
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OVERVIEW

About

The Fund aims to track the performance of an index (before fees and expenses) that provides exposure to a portfolio of investment grade fixed-rate Australian corporate bonds. The Fund’s strategy will preference securities offering superior expected excess returns over Australian government bonds.

  • Aims to provide attractive income distributions, paid monthly, combined with compelling portfolio diversification benefits
  • By selecting bonds based upon expected returns rather than debt outstanding, CRED’s index methodology seeks to avoid shortcomings of traditional debt-weighted indices and provide relatively higher returns
  • The portfolio is comprised of senior, fixed rate, investment grade securities denominated in Australian dollars, issued by companies listed on the ASX or other eligible entities
  • Eligible bonds must have amounts outstanding of at least $250m and a term to maturity of between 5.25 to 10.25 years
  • Up to 35 bonds are selected from eligible universe, with each bond assigned an equal weight as at each rebalance date
  • No single issuer shall have a weight in excess of 7% at each re-balance date

Advantages

  • Regular, attractive income – income paid monthly, and expected to exceed income paid on cash, term deposits, government and composite bond exposures
  • Diversification & defence – investment grade fixed-rate Australian corporate bonds have historically tended to rise in value when Australian shares have fallen, providing diversification benefits and defensive characteristics to portfolios
  • Low cost – management costs of only 0.25% p.a.
  • Ranking – underlying portfolio comprises senior bonds, which rank above shareholders in the event of issuer default
  • Access – simple way to access a portfolio of Australian investment grade corporate bonds, which are inaccessible to most investors directly
  • Transparent – portfolio holdings, value of Fund’s assets, yield information and net asset value per unit available daily on our website
  • Liquidity – available to trade on the 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

KEY FACTS

Pricing Information 21 August 2018

Current Price
Last Trade* $25.24
% Change (prev day) 0.12%
Bid (delayed) $25.12
Offer (delayed) -
*Data is delayed by at least 20 minutes.
Download NAV history
NAV
NAV/Unit * $25.16
* As at 17 August 2018

Profile

Net Assets* ($A) $16,105,795
Units Outstanding* (#) 640,040
Mgmt Costs** (% p.a.) 0.25%
Distribution Frequency Monthly
Distribution Reinvestment Plan (DRP) Full or partial participation available
Issuer BetaShares Capital Ltd
Fund Administrator RBC Investor Services
Custodian RBC Investor Services
Registry Link Market Services
Auditor KPMG
* As at 17 August 2018
* As of close of previous day
**Certain additional costs apply. Please refer to PDS.

Trading Information

ASX Code CRED
Bloomberg Code CRED AU
IRESS Code CRED.AXW
Trading Hours 10.00-16.00 (AEST)
Market Makers Deutsche Securities
SMSF Eligible Yes

Index Information

Index Solactive Australian Investment Grade Corporate Bond Select TR Index
Index Provider Solactive AG
Index Ticker N/A
Bloomberg Index Ticker SOLAUSIG Index
Index Methodology

Portfolio Characteristics

Running Yield (% p.a.)
Average coupon (weighted by market value) of the bonds in the portfolio, divided by the current market price of the bonds. Provides an indication of expected current income from making an investment at market price. This value will vary over time as interest rates change.
4.08 % p.a.
Yield to Maturity (% p.a.)
Total expected return from the bond portfolio, based on current bond prices and assuming no change in prevailing interest rates. This value will vary over time.
3.94 % p.a.
Average Maturity (yrs)
Average (weighted by market value) length of time until the current bonds in the portfolio mature.
7.65 yrs
Modified Duration (yrs)
A measure of the sensitivity of the portfolio’s value to a change in interest rates. For example, a Modified Duration of 0.15 years implies that a 1% rise in the reference interest rate will reduce the value of the portfolio by 0.15%.
6.34 yrs
Average Credit Rating
Average credit rating for the bonds in the portfolio. Source: Bloomberg
A-
As at 17/08/2018

Top Exposures

Name %
Macquarie 4.15% Dec-27 6.0 %
Telstra 4% Apr-27 5.7 %
Vodafone 4.2% Dec-27 5.6 %
Caltex 4% Apr-25 5.1 %
Etsa Utilities 3.5% Aug-24 5.0 %
Fonterra 4% Nov-27 5.0 %
Aroundtown Sa 4.5% May-25 5.0 %
Emirates Nbd 4.75% Feb-28 4.6 %
Verizon Communications 4.05% Feb-25 4.5 %
Aurizon Network 4% Jun-24 4.4 %
As of close of trading 31/07/2018
The information above shows underlying share exposures of the Fund.

PERFORMANCE

Fund Returns After Fees (%)

  Fund Index
1 month 0.13% 0.18%
3 months - -
6 months - -
1 year - -
3 year p.a - -
5 year p.a - -
Since inception (p.a) 0.52% 0.55%
Inception date 31-May-18 -
* As at 31 July 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.

DISTRIBUTIONS

Yield Information

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

Recent Distributions

Ex Date Record Date Payment Date Distribution Unit ($) Annual Distribution Return (%) (1)
1-Aug-18 2-Aug-18 16-Aug-18 $0.08283 -
2-Jul-18 3-Jul-18 17-Jul-18 $0.07285 -
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ANNOUNCEMENTS

ASX Announcements: CRED

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RESOURCES

Factsheet - CRED
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Fund Flyer - CRED
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Product Brochure - CRED
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Product Disclosure Statement - CRED
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Portfolio Holdings
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Notice of Proposed Modifications to Fund Constitution – AMIT Tax Regime
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NRWT and Fund Payment Notice information – June 2018 distributions
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NRWT and Fund Payment Notice information – July 2018 distributions
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LEARN MORE ABOUT CRED

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