ASX GGUS | Geared U.S. Equity Fund (hedge fund)

OVERVIEW

Fund Objective

GGUS provides investors with cost-effective geared exposure to the returns of the broad U.S. sharemarket, hedged for currency exposure.

Fund Strategy

GGUS is ‘internally geared’, meaning all gearing obligations are met by the Fund. GGUS combines funds received from investors with borrowed funds and invests the proceeds in a broadly diversified share portfolio consisting of the largest 500 shares listed in the U.S. by market capitalisation (as measured by the S&P 500 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 GGUS

Leveraged returns

GGUS gives you the opportunity to make magnified gains when the U.S. 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 GGUS 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.

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KEY FACTS

Pricing Information 23 September 2020

Current Price
Last Trade*	-
% Change (prev day)	-
Bid (delayed)	-
Offer (delayed)	-

*Data is delayed by at least 20 minutes.

Download NAV history

NAV
NAV/Unit *	$18.62

* As at 21 September 2020

Profile

Net Assets* ($A)	$39,097,628
Units Outstanding* (#)	2,100,000
Mgmt Costs** (% p.a.)	0.80%
Distribution Frequency	Annual
Distribution Reinvestment Plan (DRP)	Not available
Issuer	BetaShares Capital Ltd
Fund Administrator	FundBPO
Custodian	Deutsche Bank AG
Registry	Link Market Services
Auditor	KPMG

* As at 21 September 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	GGUS
Bloomberg Code	GGUS AU
IRESS Code	GGUS.AXW
Trading Hours	10.00-16.00 (AEST)
iNAV IRESS Code	N/A
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 * (%)	61.2%
Current Gearing Multiple** (x)	2.58

* As at 22 September 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 U.S. share market (as measured by the S&P 500 index). For example, if the Fund's gearing multiple is 2.1x, and the S&P 500 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

Information Technology	28.1%
Healthcare	13.9%
Consumer Discretionary	11.4%
Communication Services	11.2%
Financials	9.7%
Industrials	8.1%
Consumer Staples	7.0%
Utilities	2.9%
Real Estate	2.7%
Other	5.2%

* As of 31 August 2020

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PERFORMANCE

Fund Returns After Fees (%)

	Fund	S&P 500 Index (TR, US$)
1 month	14.57%	7.13%
3 months	33.26%	15.33%
6 months	31.03%	19.29%
1 year	23.91%	21.23%
3 year p.a	17.99%	13.85%
5 year p.a	21.86%	13.77%
Since inception (p.a)	17.28%	12.22%
Inception date	17-Aug-15	-

* As at 31 August 2020

Chart

Chart Type

Draw trend line

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 31 August 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. 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-19	2-Jul-19	16-Jul-19	$0.02541	0.16%
2-Jul-18	3-Jul-18	17-Jul-18	$0.12012	0.94%
3-Jul-17	4-Jul-17	18-Jul-17	$0.09916	1.05%
1-Jul-16	4-Jul-16	18-Jul-16	$0.09848	-

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: GGUS

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RESOURCES

	Factsheet - GGUS	Download
	Fund Flyer - GGUS	Download
	Brochure - BetaShares Gear Fund Series	Download
	Portfolio Holdings	Download
	Product Disclosure Statement - GGUS	Download
	Annual Report - June 2019	Download
	2020 BetaShares Distribution Calendar	Download
	Notice of Modifications to Fund Constitution – AMIT Tax Regime	Download
	Interim Financial Report 2018	Download
	GGUS Annual Hedge Fund Report – 2019	Download