Macquarie Australian Small Companies Fund

Diversified exposure

To a portfolio of Australian small companies identified as having attractive fundamentals

Aims to achieve consistent active returns

By holding a large number of small active positions

Emotional bias risk reduced

A systematic approach to capturing the fundamental characteristics of stocks

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Fund facts
Investment objective	The Macquarie Australian Small Companies Fund aims to outperform the S&P/ASX Small Ordinaries Accumulation Index (Benchmark) over the medium to long term (before fees). It aims to provide capital growth and some income.
Benchmark	S&P/ASX Small Ordinaries Accumulation Index
Portfolio managers	Derek Bilney, Monique Gavegan
Inception date*	6 July 2006
Fund size	A$546.8m (current as at 30 November 2024)
Management fee	0.60% pa of the net asset value of the Fund
Performance fee	15% of the outperformance of the fund (after the management fee and expenses) above the return of the Benchmark, subject to a 'high watermark' and inclusive of GST
Minimum investment	$A20,000
Distribution frequency	Generally quarterly
APIR code	MAQ0454AU
Target Market Determination	The Target Market Determination (TMD), available at macquarie.com/mam/TMD, includes a description of the class of consumers for whom the Fund is likely to be consistent with their objectives, financial situation and needs. View TMD

*Until 17 December 2017, the strategy was managed with a fundamental approach. From 18 December 2017, the strategy was restructured such that it is managed with a quantitative, systematic investment approach. At this time the base fee was decreased to 0.60% pa.

The Fund is designed for consumers who:

are seeking capital growth and income distribution
are intending to use the Fund as a minor allocation or satellite allocation within a portfolio
have a minimum investment timeframe of five years
have a very high risk/return profile for that portion of their investment portfolio, and
require the ability to have access to capital within one week of request.

Performance

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Past performance is not a reliable indicator of future performance. The Fund’s investment strategy changed effective 18 December 2017. Until 17 December 2017, the strategy was managed with a fundamental high conviction approach. From 18 December 2017, the strategy was restructured such that it is managed with a quantitative, systematic investment approach. At this time the base fee was decreased to 0.60%pa.

The performance information shown above may differ to the information in the performance report due to rounding.

* Inception date of the Fund was 6 July 2006.

** Net returns are quoted after the deduction of all fees and expenses. Total returns are calculated based on changes in net asset values and assumes the reinvestment of distributions. Due to individual investor circumstances, your net returns may differ from the net returns quoted above.

*** The Benchmark is the S&P/ASX Small Ordinaries Accumulation Index.

Management team

Risks

All investments carry risk. Different investments carry different levels of risk, depending on the investment strategy and the underlying investments. Generally, the higher the potential return of an investment, the greater the risk (including the potential for loss and unit price variability over the short or long term). The risks of investing in this Fund include:

Investment risk: The Fund has exposure to share markets. The risk of an investment in the Fund is higher than an investment in a typical bank account or fixed income investment. Amounts distributed to unitholders may fluctuate, as may the Fund’s unit price, by material amounts over short periods.

Market risk: The investments that the Fund has exposure to are likely to have a broad correlation with share markets in general. Share markets can be volatile and have the potential to fall by large amounts over short periods of time. Poor performance or losses in domestic and/or global share markets are likely to negatively impact the overall performance of the Fund.

Small companies risk: The Fund has exposure to companies generally considered small in terms of market capitalisation. Companies within this sector of the market may include recently established entities with limited public information, or entities engaged in new-to-market concepts which may be speculative in nature. Shares in companies in this sector are generally less liquid and more volatile than those of larger companies. Small companies exposure may result in higher unit price volatility and an increased risk of loss.

More information on the risks of investing in the Fund is contained in the Product Disclosure Statement, which should be considered before deciding to invest in the Fund.