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Active (8)BetaShares Geared Australian Equity Fund (hedge fund)
A simple way to obtain cost-effective geared exposure to the Australian sharemarket, in a single ASX trade, removing the need to borrow funds yourself or risk margin calls.
OVERVIEW
Fund Objective
GEAR provides investors with cost-effective geared exposure to the returns of the broad Australian sharemarket.
Fund Strategy
The Fund is ‘internally geared’, meaning all gearing obligations are met by the Fund. The Fund combines funds received from investors with borrowed funds and invests the proceeds in a broadly diversified share portfolio consisting of the largest 200 equity securities on the ASX by market capitalisation (as measured by the S&P/ASX 200 Index). The Fund’s gearing ratio (being the total amount borrowed expressed as a percentage of the total assets of the Fund) is managed between 50-65%.
Gearing magnifies gains and losses and may not be a suitable strategy for all investors.
Benefits of GEAR
Leveraged returns
GEAR gives you the opportunity to make magnified gains when the Australian sharemarket rises, and vice versa.
Simple to access, convenient
Avoid the costs and complications of margin loans and CFDs. No need to borrow funds, no credit assessment, and diversified exposure in a single ASX trade.
No margin calls
Investors in GEAR do not face the possibility of margin calls.
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 10 April 2020
| Current Price | |
|---|---|
| Last Trade* | - |
| % Change (prev day) | - |
| Bid (delayed) | - |
| Offer (delayed) | - |
| ASX iNav Code | YGEA |
*Data is delayed by at least 20 minutes.
Download NAV history
| NAV | |
|---|---|
| NAV/Unit * | $14.33 |
* As at 9 April 2020
Profile
| Net Assets* ($A) | $122,282,251 |
| Units Outstanding* (#) | 8,534,418 |
| Mgmt Costs** (% p.a.) | 0.80% |
| Distribution Frequency | Semi-annual |
| Distribution Reinvestment Plan (DRP) | Full participation available |
| Issuer | BetaShares Capital Ltd |
| Fund Administrator | FundBPO |
| Custodian | Deutsche Bank AG |
| Registry | Link Market Services |
| Auditor | KPMG |
* As at 9 April 2020
**Costs expressed as a percentage of gross asset value of the Fund. Certain additional costs apply. Please refer to PDS.
Trading Information
| ASX Code | GEAR |
| Bloomberg Code | GEAR AU |
| IRESS Code | GEAR.AXW |
| Trading Hours | 10.00-16.00 (AEST) |
| iNAV IRESS Code | GEARINAV.ETF |
| Market Makers | Deutsche Securities, Susquehanna Pacific |
| SMSF Eligible | Yes |
Index Information
| Index | N/A |
| Index Provider | N/A |
| Index Ticker | N/A |
| Bloomberg Index Ticker | N/A |
Gearing
| Gearing Range | 50-65% |
| Current Gearing Ratio * (%) | 51.4% |
| Current Gearing Multiple** (x) | 2.06 |
* As at 9 April 2020. Calculated as Fund borrowings divided by
Fund total assets. Current Gearing Ratio is as at start of the above date and can be expected to
vary throughout the day.
**Represents the Fund's approximate exposure, for the above date, to movements in the Australian share market (as measured by the S&P/ASX 200 index). For example, if the Fund's gearing multiple is 2.1x, and the S&P/ASX 200 index goes up 1% that day, the Fund would be expected to go up approximately 2.1% that day. The Fund is actively managed and the gearing multiple will change on a daily basis, affecting returns over time.
Sector Allocation
| Financials | 30.5% |
| Materials | 16.9% |
| Healthcare | 11.7% |
| Industrials | 8.2% |
| Real Estate | 7.8% |
| Consumer Discretionary | 6.5% |
| Consumer Staples | 5.9% |
| Energy | 4.6% |
| Communication Services | 3.6% |
| Other | 4.2% |
* As of 29 February 2020
PERFORMANCE
Fund Returns After Fees (%)
| Fund | Index | |
|---|---|---|
| 1 month | -46.70% | -20.65% |
| 3 months | -50.71% | -23.10% |
| 6 months | -50.43% | -22.57% |
| 1 year | -39.69% | -14.42% |
| 3 year p.a | -11.25% | -0.56% |
| 5 year p.a | -6.18% | 1.39% |
| Since inception (p.a) | -1.97% | 3.14% |
| Inception date | 30-Apr-14 | - |
* As at 31 March 2020
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 | Semi-Annual |
| 12 Mth Distribution Yield* (%) | 8.9% |
| 12 Mth Gross Distribution Yield* (%) | 13.0% |
| Franking Level | 107.6% |
*As at 29 February 2020. 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) |
|---|---|---|---|---|
| 2-Jan-20 | 3-Jan-20 | 17-Jan-20 | $1.02242 | 12.25% |
| 1-Jul-19 | 2-Jul-19 | 16-Jul-19 | $1.10173 | 8.75% |
| 2-Jan-19 | 3-Jan-19 | 17-Jan-19 | $0.65602 | 4.67% |
| 2-Jul-18 | 3-Jul-18 | 17-Jul-18 | $0.55264 | 8.34% |
| 2-Jan-18 | 3-Jan-18 | 17-Jan-18 | $1.0961 | 7.49% |
| 3-Jul-17 | 4-Jul-17 | 18-Jul-17 | $0.3979 | 7.76% |
| 3-Jan-17 | 4-Jan-17 | 18-Jan-17 | $0.96842 | 7.51% |
| 1-Jul-16 | 4-Jul-16 | 18-Jul-16 | $0.33332 | 4.53% |
| 4-Jan-16 | 6-Jan-16 | 19-Jan-16 | $0.61149 | 4.66% |
| 1-Jul-15 | 3-Jul-15 | 20-Jul-15 | $0.43502 | 3.87% |
| 2-Jan-15 | 6-Jan-15 | 19-Jan-15 | $0.38738 | - |
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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.
RESOURCES
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Factsheet - GEAR |
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Product Brochure - GEAR |
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Brochure - BetaShares Gear Fund Series |
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Portfolio Holdings |
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Product Disclosure Statement - GEAR |
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Annual Report - June 2019 |
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NRWT and Fund Payment Notice information - December 2019 distributions |
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NRWT and Fund Payment Notice information - June 2019 distributions |
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Notice of Modifications to Fund Constitution – AMIT Tax Regime |
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Interim Financial Report 2018 |
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GEAR Annual Hedge Fund Report – 2019 |
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2020 BetaShares Distribution Calendar |
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