Antipodes Global SMID Fund P - Managed Fund

Fund Objective

The Fund aims to outperform the Benchmark MSCI ACWI SMID Cap Net Index (AUD) over the investment cycle (typically 3-5 years).

Fund Strategy

The Fund has a maximum single stock limit of 10% of the Fund's NAV. The top 10 positions will typically account for 25% to 35% of the portfolio and the top 30 positions 60% to 80%. The Fund is also permitted to utilise exchange traded derivatives for risk management purposes and to achieve equity exposure; without holding the physical securities.

Fund Performance Comparison

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Peers

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The performance of the peers is calculated as the total of the performance for each time period for all the funds in the peer group, divided by the number of funds in the peer group.

Fees Comparison

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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 manager or adviser statements to find out the exact fees you are being charged. Peers are funds that use the same benchmark in the Morningstar database.

Fund performance

	1M	3M	6M	1Y p.a.	2Y p.a.	3Y p.a.	5Y p.a.	10Y p.a.
Total return	5.18%	11.15%	19.55%	33.75%	36.69%	27.46%	-%	-%
Growth return	5.18%	11.15%	9.68%	22.71%	24.72%	19.91%	-%	-%
Income return	0%	0%	9.87%	11.04%	11.97%	7.55%	-%	-%
Market index (MSCI World Small Cap NR AUD)
Total return	1.53%	3.69%	13.64%	10.95%	19.32%	13.61%	11.03%	10.13%

As at 30 Nov 2025. Returns for periods greater than 1 year are annualised. All figures are percentages.

Asset Allocation

Antipodes Global SMID Fund P

Australian Equities: 0.12%

International Equities: 96.91%

Cash: 2.97%

Property & Infrastructure: 0%

Alternatives: 0%

Average Allocation of Peers

Australian Equities: 3.19%

International Equities: 93.81%

Cash: 2.81%

Property & Infrastructure: 0.19%

Alternatives: 0%

General Information

Fund Details

Type	Description
Fund Name	Antipodes Global SMID Fund P
Responsible Entity	Pinnacle Fund Services Limited
APIR Code	WHT1464AU
Sector/Asset Class	Equity World Mid/Small
Morningstar Rating	(as at 30 Nov 2025)
Legal Structure	Investment Fund
Fund Inception	1 Nov 2022
Fund Size	$18.14 million (as at 31 Oct 2025)
Entry Price	$9.2171 (as at 9 Dec 2025)
Exit Price	$9.1619 (as at 9 Dec 2025)
Fund Status	Open

Offer information

Type	Description
MER	3.28% (as at 10 Nov 2025)
Indirect Cost Ratio (ICR)	5.19% (as at 30 Jun 2025)
Performance fee (not included in ICR)	3.99
Minimum initial investment	$25,000
Minimum additional investments	$5,000.00

Top 10 holdings (as at 31 Oct 2025)

Holding (as at 31 Oct 2025)	Type	% of Portfolio
Brookdale Senior Living Inc	Equity	3.60%
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FAQs about the Antipodes Global SMID Fund P

What is the objective of the Antipodes Global SMID Fund P managed fund?

The objective of the Antipodes Global SMID Fund P managed fund is The Fund aims to outperform the Benchmark MSCI ACWI SMID Cap Net Index (AUD) over the investment cycle (typically 3-5 years).

What is the strategy for the Antipodes Global SMID Fund P managed fund?

The strategy of the Antipodes Global SMID Fund P managed fund is The Fund has a maximum single stock limit of 10% of the Fund's NAV. The top 10 positions will typically account for 25% to 35% of the portfolio and the top 30 positions 60% to 80%. The Fund is also permitted to utilise exchange traded derivatives for risk management purposes and to achieve equity exposure; without holding the physical securities.

What is the APIR code of the Antipodes Global SMID Fund P managed fund?

The APIR code of the Antipodes Global SMID Fund P managed fund is WHT1464AU.

What was Antipodes Global SMID Fund P’s total return last month?

Antipodes Global SMID Fund P’s total return last month was 5.18%. This was made up of a growth return of 5.18% and an income return of 0%. These returns were calculated as at 30 Nov 2025.

What was Antipodes Global SMID Fund P’s total return for the last three months?

Antipodes Global SMID Fund P’s total return for the last three months was 11.15%. This was made up of a growth return of 11.15% and an income return of 0%%. These returns were calculated as at 30 Nov 2025.

What is Antipodes Global SMID Fund P’s one-year total return?

Antipodes Global SMID Fund P’s one-year total return is 33.75%. This was made up of a growth return of 22.71% and an income return of 11.04%. These returns were calculated as at 30 Nov 2025.

What is Antipodes Global SMID Fund P’s three-year total return?

Antipodes Global SMID Fund P’s one-year total return is 27.46%. This was made up of a growth return of 19.91% and an income return of 7.55%. These returns were calculated as at 30 Nov 2025.

What is the asset allocation of the Antipodes Global SMID Fund P managed fund?

The asset allocation of the Antipodes Global SMID Fund P managed fund is :

Australian Equities: 0.12%

International Equities: 96.91%

Cash: 2.97%

Property & Infrastructure: 0%

Alternatives: 0%

Who is the responsible Entity of the Antipodes Global SMID Fund P managed fund?

The Responsible Entity for the Antipodes Global SMID Fund P managed fund is Pinnacle Fund Services Limited.

What sector/asset class does the Antipodes Global SMID Fund P managed fund belong to?

The Antipodes Global SMID Fund P managed fund belongs to the Equity World Mid/Small sector/asset class.

What is the size of the Antipodes Global SMID Fund P managed fund?

As at 31 Oct 2025, the size of the Antipodes Global SMID Fund P managed fund was $18.14 million.

What is the inception date of the Antipodes Global SMID Fund P managed fund?

The Antipodes Global SMID Fund P managed fund has an inception date of 1 Nov 2022.

What is the current entry price of the Antipodes Global SMID Fund P managed fund?

The current entry price of the Antipodes Global SMID Fund P managed fund is $9.2171 per unit and the current exit price is $9.1619 per unit (as at 9 Dec 2025).

What is the current exit price of the Antipodes Global SMID Fund P managed fund?

The current exit price of the Antipodes Global SMID Fund P managed fund is $9.1619 per unit and the current entry price is $9.2171 per unit (as at 9 Dec 2025).

What is the minimum investment amount for the Antipodes Global SMID Fund P managed fund?

The minimum initial investment amount for the Antipodes Global SMID Fund P managed fund is $25,000. Minimum additional investment is $5000.

Fund data sourced from Morningstar. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). Data and content is provided for personal use only. Whilst every care has been taken in producing these numbers, neither Morningstar nor InvestSMART can make any guarantees around the complete accuracy of these figures. Should you decide to change investments, please read all relevant disclosure documents including the Product Disclosure Statements and if required, you may consider speaking to a financial professional for further guidance. A tax event may be realised as a result of switching investments. Past performance is not a reliable indicator of future performance.

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