Overview

  • PERFORMANCE*

    + {{ modelPortfolio.returnInception | percentage:1:100:'N/A' }} N/A
  • ESTIMATED INCOME P.A.^

    {{ modelPortfolio.returnInceptionAnnualised | percentage:1:100:'N/A' }} N/A
  • SUGGESTED TIMEFRAME

    {{ modelPortfolio.timeframe }}
*Return per annum since {{ modelPortfolio.inceptionDate | date:'dd MMM yyyy' }} after investment and admin fees as at {{ modelPortfolio.returnDate | date:'dd MMM yyyy' }}.

Allocation

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{{ getAssetAllocationValue(i) | percentage:2:100 }}

PERFORMANCE TO {{ modelPortfolio.returnDate | date:'dd MMMM yyyy' }} 1 MONTH 3 MONTH 6 MONTH 1 YEAR 2 YEAR 3 YEAR 5 YEAR SI* (P.A.)
{{ modelPortfolio.name }} {{ modelPortfolio.stats.returns.return1Month | percentage:2:1:'N/A' }} {{ modelPortfolio.stats.returns.return3Month | percentage:2:1:'N/A' }} {{ modelPortfolio.stats.returns.return6Month | percentage:2:1:'N/A' }} {{ modelPortfolio.stats.returns.return1Year | percentage:2:1:'N/A' }} {{ modelPortfolio.stats.returns.return2Year | percentage:2:1:'N/A' }} {{ modelPortfolio.stats.returns.return3Year | percentage:2:1:'N/A' }} {{ modelPortfolio.stats.returns.return5Year | percentage:2:1:'N/A' }} {{ modelPortfolio.returnInception | percentage:2:100:'N/A' }}
Avg of {{ modelPortfolio.benchmark.peers.peerCount }} Peers {{ modelPortfolio.benchmark.peers.returns.return1Month | percentage:2:1:'N/A' }} {{ modelPortfolio.benchmark.peers.returns.return3Month | percentage:2:1:'N/A' }} {{ modelPortfolio.benchmark.peers.returns.return6Month | percentage:2:1:'N/A' }} {{ modelPortfolio.benchmark.peers.returns.return1Year | percentage:2:1:'N/A' }} {{ modelPortfolio.benchmark.peers.returns.return2Year | percentage:2:1:'N/A' }} {{ modelPortfolio.benchmark.peers.returns.return3Year | percentage:2:1:'N/A' }} {{ modelPortfolio.benchmark.peers.returns.return5Year | percentage:2:1:'N/A' }} N/A
Excess to Peers {{ modelPortfolio.stats.returns.return1Month ? (modelPortfolio.stats.returns.return1Month - modelPortfolio.benchmark.peers.returns.return1Month) : null | percentage:2:1:'N/A' }} {{ modelPortfolio.stats.returns.return3Month ? (modelPortfolio.stats.returns.return3Month - modelPortfolio.benchmark.peers.returns.return3Month) : null | percentage:2:1:'N/A' }} {{ modelPortfolio.stats.returns.return6Month ? (modelPortfolio.stats.returns.return6Month - modelPortfolio.benchmark.peers.returns.return6Month) : null | percentage:2:1:'N/A' }} {{ modelPortfolio.stats.returns.return1Year ? (modelPortfolio.stats.returns.return1Year - modelPortfolio.benchmark.peers.returns.return1Year) : null | percentage:2:1:'N/A' }} {{ modelPortfolio.stats.returns.return2Year ? (modelPortfolio.stats.returns.return2Year - modelPortfolio.benchmark.peers.returns.return2Year) : null | percentage:2:1:'N/A' }} {{ modelPortfolio.stats.returns.return3Year ? (modelPortfolio.stats.returns.return3Year - modelPortfolio.benchmark.peers.returns.return3Year) : null | percentage:2:1:'N/A' }} {{ modelPortfolio.stats.returns.return5Year ? (modelPortfolio.stats.returns.return5Year - modelPortfolio.benchmark.peers.returns.return5Year) : null | percentage:2:1:'N/A' }} N/A
{{ modelPortfolio.benchmark.name }} {{ modelPortfolio.benchmark.index.returns.return1Month | percentage:2:1:'N/A' }} {{ modelPortfolio.benchmark.index.returns.return3Month | percentage:2:1:'N/A' }} {{ modelPortfolio.benchmark.index.returns.return6Month | percentage:2:1:'N/A' }} {{ modelPortfolio.benchmark.index.returns.return1Year | percentage:2:1:'N/A' }} {{ modelPortfolio.benchmark.index.returns.return2Year | percentage:2:1:'N/A' }} {{ modelPortfolio.benchmark.index.returns.return3Year | percentage:2:1:'N/A' }} {{ modelPortfolio.benchmark.index.returns.return5Year | percentage:2:1:'N/A' }} {{ modelPortfolio.benchmark.index.returns.returnComparativeSI | percentage:2:1:'N/A' }}

Fees {{ modelPortfolio.name }} {{ modelPortfolio.mer | percentage:2:1:'N/A' }} {{ modelPortfolio.benchmark && modelPortfolio.benchmark.peers ? ' & Average of ' + modelPortfolio.benchmark.peers.peerCount + ' peers ' : null }} {{ modelPortfolio.benchmark.peers.mer | percentage:2:1:'' }}

Note: Fee data has been provided by Morningstar, it may not include all costs being charged on your investment such as platform and adviser fees. You should check your fund or adviser statements to find out the exact fees you are being charged.
  • Details
  • Underlying ETF Holdings
  • Fees
  • Reports
  • Unit Prices

Details

Style {{ modelPortfolio.style || 'N/A' }}
Risk Rating {{ modelPortfolio.riskRating || 'N/A' }}
Benchmark Index {{ modelPortfolio.benchmark.name || 'N/A' }}
Inception Date {{ (modelPortfolio.inceptionDate | date:'dd MMM yyyy') || 'N/A' }}
Minimum initial investment {{ (modelPortfolio.minimumInitialInvestment | currency:$:0) || 'N/A' }}
Estimated income per annum {{ modelPortfolio.returnInceptionAnnualised != null ? modelPortfolio.returnInceptionAnnualised + '%' : 'N/A' }} (including franking credits)
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Underlying ETF Holdings

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Fees

Reports

Portfolio Update
Portfolio Update
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{{ i.title }} Quarterly Report

Unit Prices

Date Buy/Entry Price Sell/Exit Price Distribution
{{ u.date | date:'dd/MM/yy' }} {{ u.entryPrice != null ? (u.entryPrice | currency:$:4) : '' }} {{ u.exitPrice != null ? (u.exitPrice | currency:$:4) : '' }} {{ u.distribution != null ? ((u.distribution / 100) | currency:$:6) : '' }}

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FAQs

Still deciding if InvestSMART is right for you? These frequently asked questions may help.
View more FAQs

A Separately Managed Account (SMA) is an investment account managed to a model portfolio that is controlled by a portfolio manager. In our case that is our investment team. They decide what stocks go into the model portfolio and at what weight. The team then manage this daily adjusting the portfolio as circumstances change to achieve returns for our clients.

The model portfolios use percentage weightings so our clients achieve the same percentage returns across the board no matter the dollar value invested.

Unlike a managed fund, an SMA is not a pooled investment, everyone’s funds are not in the same bucket. You have your own account and you are the beneficial owner of the stocks held in that account.

The SMA structure is beneficial for several reasons:

  • Tax effective: You only pay tax on gains & income you received.
  • Inflows & outflows: Your investment will not be impacted by the decisions of other model portfolio investors. An example of this is when a pooled investment like a managed fund receives redemption requests at the bottom of the market and is a forced seller at the worst time.
  • Flexibility with income/distributions: Choose to receive the dividends directly into an account of your choice or set up a regular payment or request payments on an adhoc basis.

Hybrid securities can be an attractive investment proposition, offering relatively stable income streams and lower levels of volatility when compared to equities. However, many hybrids are often more complicated than they seem and identifying which are appropriately priced is not always a simple task.

What are hybrids?

Hybrid securities are financial instruments that have both equity and debt features, and have been a key part of the Australian stock market retail product offering for many years.

The term ‘hybrids’ effectively covers any interest-bearing security that has both debt-like and equity-like features embedded in it. Some hybrids (like those issued by the banks) take this dual nature all the way to the possibility of conversion into the ordinary shares: others (like some corporate hybrids) only have equity-style features, such as the ability to defer interest payments without triggering a default.

Repayment of the investor’s principal can be in the form of cash or ordinary shares of the issuer. Although they are part of the Australian Securities Exchange’s (ASX’s) listed interest-bearing security – or listed credit – sector, the hybrids are a discrete group of investments because of their equity-like features.

Hybrid securities’ distributions (or dividends) can be franked or unfranked. They are typically unsecured, ranking just above ordinary equity. Hybrids are technically perpetual securities, meaning that they may never be redeemed, and an investor may never have their invested capital returned.

 

Key Features of Hybrids

When a hybrid is issued, investors know the following:

  • the face value – the price at which the security is issued and the amount the investor will receive at maturity/redemption by the issuer;
  • the coupon – the distribution/dividend return investors receive each year for holding the security, paid either quarterly or semi-annually;
  • the maturity/redemption date – the date at which holders will be repaid the face value of the security in cash; and
  • the conversion date – the date when a preference share or other convertible security will convert into ordinary shares in the issuer (assuming the required conversion conditions are met).

 

Why invest in hybrids?

For investors, hybrids promise regular interest payments at rates usually several percentage points higher than those paid on bank term deposits or ‘vanilla’ corporate bonds; while the potential equity convertibility is a more conservative way of holding exposure to a company.

 

What is the InvestSMART Hybrid Income Portfolio?

The InvestSMART Hybrid Income Portfolio is a professionally managed portfolio that gives you access to a hand-picked selection of 10 to 25 hybrids to diversify your income stream, with the added benefit of minimised portfolio risk. 

Our Hybrid Income Portfolio has been designed to deliver a regular income stream with lower levels of volatility.

The Portfolio’s objective is to to achieve a return of 3% (including franking credits) above the RBA Cash rate per annum over three year rolling periods.

 

The main benefits of the InvestSMART Hybrid Income Portfolio include:

  • Lower risk than ordinary shares and a higher return than cash and cash like investments
  • Diversification across 10–25 securities to minimise portfolio risk
  • Professionally managed by our investment team, with active monitoring and rebalancing
  • Low trading costs for rebalances (<0.05%)

 

More information on investing in hybrids:

InvestSMART Hybrid Income Portfolio

Launching InvestSMART's Hybrid Income

Investing in Hybrids for Income

An investor's guide to hybrid securities

 

 

 

 

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