OnePath Diversified Fixed Interest

 

Features

Information

APIR codeMMF1625AU
Minimum suggested Investment time frame3+ years
Growth/defensiveDefensive 100%
FE fundinfo sectorFixed Int - Global
Income distribution frequencyQuarterly
Total fees and costs as at 9 February 20220.85% pa
Fund size$93.06m
Inception date15 November 2010
Establishment Fee (pa)8.00%

Investment minimums

Please refer to PDS 

Pricing

Price date30/09/2022
Entry$1.4340
Exit$1.4352

Standard risk measure

1 2 3 4 5 6 7
Standard Risk Measure

A Standard Risk Measure score of 5 equates to a Risk Label of 'Medium to High' and an estimated number of negative annual returns over any 20 year period of 3 to less than 4. This is a measure of expected frequency (not magnitude) of capital losses, calculated in accordance with ASFA/FSC guidelines.

Investment objective

The fund aims to provide income and achieve returns (before fees, charges and taxes) that exceed the Bloomberg AusBond Composite 0+ Yr Index, over periods of three years or more.

Investment strategy

The fund is actively managed and invests predominantly in a diversified mix of Australian and international defensive assets.

Investor profile

The Fund is intended to be suitable for investors seeking to achieve returns (before fees, charges and taxes) that exceed the Bloomberg AusBond Composite 0+ Yr Index.

Research house ratings

Rating

LonsecRecommended

Meet the manager(s)

NameIOOF Investment Team
BiographyOur impressive investment capabilities are driven by our investment team and structure. Each asset class has a dedicated portfolio manager who enjoys strong support from a host of support staff including analysts and investment specialists. Furthermore, the team benefits from the strong support of our additional research capabilities, namely through our asset consultant.
PhotoIOOF Investment Team

Cumulative performance

ResetPerformance line chart
Powered by data from FE fundinfo
3 months6 monthsYear to date1 year3 years pa5 years pa
Fund-1.71%-6.31%-11.14%-12.03%-3.58%-0.20%
FE Sector-1.49%-5.15%-8.45%-8.97%-2.55%-0.47%

Calendar Performance

Performance Bar chart
Powered by data from FE fundinfo
31/12/202131/12/202031/12/201931/12/201831/12/2017
Fund-2.86%4.50%6.78%1.83%3.87%
FE Sector-1.55%2.92%4.31%0.39%3.08%

Performance is net of management costs and expenses. Performance is based on exit price to exit price for the period and assumes that all distributions are reinvested. Management costs and other expenses are accounted for in the exit price. Past performance is not a reliable indicator of future performance.


The performance data has been sourced by FE fundinfo.


Asset allocation as at 30/09/2022

Breakdown pie chart
Australian fixed interest54.27%
International fixed interest45.02%
Cash and short-term securities0.71%

Actual versus target asset allocation as at 30/09/2022

Manager diversification within each asset class as at 30/09/2022

Breakdown pie chart

Market and portfolio review

The quarter saw rising interest rates and widening credit spreads as Central Banks aggressively dealt with higher than expected inflation. There were no manager changes over the quarter. The fund underperformed its benchmark by 0.19% for the quarter.

The Ardea Diversified Bond Fund was a big contributor due to its focus on high quality alpha sources and its benchmark replication strategy. The Ardea Global Alpha Fund was also a positive contributor to performance as market volatility picked up.

Janus Henderson subtracted value due to duration positioning and credit sector positioning. The IOOF Income Trust subtracted value due to credit sector selection. Western Asset Management subtracted value in its global total return strategy due to credit positioning.

Future investment strategy

The fund is maintaining a defensive position to both interest raters and credit. Whilst the fund overall is short duration, the fund has been taking the opportunity to reduce the short as yields have sold off.

The fund has also been re-allocating away from short duration benchmark managers to long duration benchmark managers. The fund is also shifting to a more defensive stance on credit. Whilst the fundamentals and technical for credit are strong, we feel with the economic outlook being uncertain, it is prudent to be more conservative on credit.

This website contains general advice only and does not take into account your financial circumstances, needs and objectives. Before making any decision based on this information, you should assess your own circumstances or seek advice from a financial adviser. You should obtain and consider a copy of the relevant Product Disclosure Statement (PDS) or offer document available from us or your financial adviser, before you acquire a financial product.

OneAnswer Frontier Pension is issued by OnePath Custodians Pty Limited (OnePath Custodians) ABN 12 008 508 496 AFSL 238346.

The information provided in this table is a brief outline of the major features of OneAnswer Frontier Pension. It is intended as a quick and easy reference source for investors. The table should not be used as a substitute for reading the appropriate Product Disclosure Statement (PDS) prior to you making any decision to invest through OneAnswer Frontier Pension.

This information is of a general nature and has been prepared without taking into account of your objectives, financial situation or needs. You should consider whether the information is appropriate for you having regard to your objectives, financial situation and needs. We recommend that you read the relevant Product Disclosure Statement (PDS) available here, or by calling 133 665 before deciding whether to acquire, or to continue to hold, the product.

Powered by data from FE fundinfo