Ardea Real Outcome P - Managed Fund

Fund Objective

The investment approach is based on generating returns from relative value strategies that aim to exploit mispricing between comparable fixed income securities which are related to each other and have similar risk characteristics but are priced differently. Ardea believes this type of mispricing exists because fixed income markets are inefficient. Ardea have built a repeatable investment process over time around capturing this mispricing.

Fund Strategy

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	1.22%	2.3%	3.87%	11.07%	6.46%	5.8%	3.21%	-%
Growth return	-0.23%	0.78%	2.45%	8.11%	3.87%	2.97%	0.06%	-%
Income return	1.45%	1.52%	1.42%	2.96%	2.59%	2.83%	3.15%	-%
Market index (RBA Bank accepted Bills 90 Days)
Total return	0.31%	0.92%	1.82%	3.77%	4.09%	4.08%	2.82%	2.12%

As at 31 Jan 2026. Returns for periods greater than 1 year are annualised. All figures are percentages.

Asset Allocation

No asset allocation data available.

Average Allocation of Peers

Alternatives: 18.70%

Australian Equities: 4.76%

International Equities: 3.24%

Cash: 55.27%

Property & Infrastructure: 2%

Fixed Interest: 16.04%

General Information

Fund Details

Type	Description
Fund Name	Ardea Real Outcome P
Responsible Entity	Fidante Partners Limited
APIR Code	HOW0416AU
Sector/Asset Class	Alternative - Other
Morningstar Rating	Not Rated
Legal Structure	Investment Fund
Fund Inception	27 Nov 2020
Fund Size	$1855427934 million (as at 31 Dec 2025)
Entry Price	$1.0037 (as at 11 Feb 2026)
Exit Price	$1.0027 (as at 11 Feb 2026)
Fund Status	Open

Offer information

Type	Description
MER	0.45% (as at 11 Dec 2025)
Indirect Cost Ratio (ICR)	0.45% (as at 30 Jun 2025)
Minimum initial investment

Top 10 holdings (as at 31 Oct 2025)

Holding (as at 31 Oct 2025)	Type	% of Portfolio
New South Wales Treasury Corporation 2.75%	Bond-Gov't Inflation Protected	55.25%
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FAQs about the Ardea Real Outcome P

What is the objective of the Ardea Real Outcome P managed fund?

The objective of the Ardea Real Outcome P managed fund is The investment approach is based on generating returns from relative value strategies that aim to exploit mispricing between comparable fixed income securities which are related to each other and have similar risk characteristics but are priced differently. Ardea believes this type of mispricing exists because fixed income markets are inefficient. Ardea have built a repeatable investment process over time around capturing this mispricing.

What is the strategy for the Ardea Real Outcome P managed fund?

The strategy of the Ardea Real Outcome P managed fund is The investment approach is based on generating returns from relative value strategies that aim to exploit mispricing between comparable fixed income securities which are related to each other and have similar risk characteristics but are priced differently. Ardea believes this type of mispricing exists because fixed income markets are inefficient. Ardea have built a repeatable investment process over time around capturing this mispricing.

What is the APIR code of the Ardea Real Outcome P managed fund?

The APIR code of the Ardea Real Outcome P managed fund is HOW0416AU.

What was Ardea Real Outcome P’s total return last month?

Ardea Real Outcome P’s total return last month was 1.22%. This was made up of a growth return of -0.23% and an income return of 1.45%. These returns were calculated as at 31 Jan 2026.

What was Ardea Real Outcome P’s total return for the last three months?

Ardea Real Outcome P’s total return for the last three months was 2.3%. This was made up of a growth return of 0.78% and an income return of 1.52%%. These returns were calculated as at 31 Jan 2026.

What is Ardea Real Outcome P’s one-year total return?

Ardea Real Outcome P’s one-year total return is 11.07%. This was made up of a growth return of 8.11% and an income return of 2.96%. These returns were calculated as at 31 Jan 2026.

What is Ardea Real Outcome P’s three-year total return?

Ardea Real Outcome P’s one-year total return is 5.8%. This was made up of a growth return of 2.97% and an income return of 2.83%. These returns were calculated as at 31 Jan 2026.

What is the asset allocation of the Ardea Real Outcome P managed fund?

The asset allocation of the Ardea Real Outcome P managed fund is :

Alternatives: 100%

Australian Equities: 0%

International Equities: 0%

Cash: 0%

Property & Infrastructure: 0%

Fixed Interest: 0%

Who is the responsible Entity of the Ardea Real Outcome P managed fund?

The Responsible Entity for the Ardea Real Outcome P managed fund is Fidante Partners Limited.

What sector/asset class does the Ardea Real Outcome P managed fund belong to?

The Ardea Real Outcome P managed fund belongs to the Alternative - Other sector/asset class.

What is the size of the Ardea Real Outcome P managed fund?

As at 31 Dec 2025, the size of the Ardea Real Outcome P managed fund was $1855427934 million.

What is the inception date of the Ardea Real Outcome P managed fund?

The Ardea Real Outcome P managed fund has an inception date of 27 Nov 2020.

What is the current entry price of the Ardea Real Outcome P managed fund?

The current entry price of the Ardea Real Outcome P managed fund is $1.0037 per unit and the current exit price is $1.0027 per unit (as at 11 Feb 2026).

What is the current exit price of the Ardea Real Outcome P managed fund?

The current exit price of the Ardea Real Outcome P managed fund is $1.0027 per unit and the current entry price is $1.0037 per unit (as at 11 Feb 2026).

What is the minimum investment amount for the Ardea Real Outcome P managed fund?

The minimum initial investment amount for the Ardea Real Outcome P managed fund is $0.

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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