Mutual Income Fund A - Managed Fund

Fund Objective

The Fund aims to achieve superior outcomes across two investment objectives: 1. Greater income than the Bloomberg Ausbond Bank Bill Index (after fees) quarterly. 2. Greater total return than the Bloomberg Ausbond Bank Bill Index (after fees) over a rolling 12-month period .

Fund Strategy

Mutual's investment process is based on using bottom-up fundamental analysis to determine the relative value and appropriateness of the various Australian bank bonds available within the market. The cornerstone of Mutual's investment philosophy is security with performance. The team's research process places its emphasis on mitigating downside risks by attempting to provide investors with a high level of capital preservation and outperforming the Bloomberg Index, while generating excess net cash returns to investors.

Fund Performance Comparison

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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.

Fund performance

	1M	3M	6M	1Y p.a.	2Y p.a.	3Y p.a.	5Y p.a.	10Y p.a.
Total return	0.57%	1.63%	3.46%	5.67%	6.37%	6.31%	3.97%	3.46%
Growth return	0.57%	0.4%	0.77%	0.44%	0.77%	1.68%	0.38%	0.37%
Income return	0%	1.23%	2.69%	5.23%	5.6%	4.63%	3.59%	3.09%
Market index (Bloomberg Global Aggregate TR Hdg AUD)
Total return	0.75%	1.93%	2.33%	4.78%	6.56%	4.35%	-0.42%	1.97%

As at 31 Oct 2025. Returns for periods greater than 1 year are annualised. All figures are percentages.

General Information

Fund Details

Type	Description
Fund Name	Mutual Income Fund A
Responsible Entity	Mutual Limited
APIR Code	PRM0015AU
Sector/Asset Class	Diversified Credit
Morningstar Rating	(as at 31 Oct 2025)
Legal Structure	Investment Fund
Fund Inception	2 Apr 2013
Fund Size	$694.32 million (as at 31 Oct 2025)
Entry Price	$1.05731 (as at 20 Nov 2025)
Exit Price	$1.05731 (as at 20 Nov 2025)
Fund Status	Open

Offer information

Type	Description
MER	0.39% (as at 30 Sep 2025)
Indirect Cost Ratio (ICR)	0.39% (as at 30 Jun 2023)
Performance fee (not included in ICR)	0
Minimum initial investment	$1.00
Minimum additional investments	$1.00
Minimum redemption amount	$1.00

Top 10 holdings (as at 30 Jun 2025)

Holding (as at 30 Jun 2025)	Type	% of Portfolio
ANZ Group Holdings Ltd.	Bond - Corporate Bond	4.01%
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FAQs about the Mutual Income Fund A

What is the objective of the Mutual Income Fund A managed fund?

The objective of the Mutual Income Fund A managed fund is The Fund aims to achieve superior outcomes across two investment objectives: 1. Greater income than the Bloomberg Ausbond Bank Bill Index (after fees) quarterly. 2. Greater total return than the Bloomberg Ausbond Bank Bill Index (after fees) over a rolling 12-month period .

What is the strategy for the Mutual Income Fund A managed fund?

The strategy of the Mutual Income Fund A managed fund is Mutual's investment process is based on using bottom-up fundamental analysis to determine the relative value and appropriateness of the various Australian bank bonds available within the market. The cornerstone of Mutual's investment philosophy is security with performance. The team's research process places its emphasis on mitigating downside risks by attempting to provide investors with a high level of capital preservation and outperforming the Bloomberg Index, while generating excess net cash returns to investors.

What is the APIR code of the Mutual Income Fund A managed fund?

The APIR code of the Mutual Income Fund A managed fund is PRM0015AU.

What was Mutual Income Fund A’s total return last month?

Mutual Income Fund A’s total return last month was 0.57%. This was made up of a growth return of 0.57% and an income return of 0%. These returns were calculated as at 31 Oct 2025.

What was Mutual Income Fund A’s total return for the last three months?

Mutual Income Fund A’s total return for the last three months was 1.63%. This was made up of a growth return of 0.4% and an income return of 1.23%%. These returns were calculated as at 31 Oct 2025.

What is Mutual Income Fund A’s one-year total return?

Mutual Income Fund A’s one-year total return is 5.67%. This was made up of a growth return of 0.44% and an income return of 5.23%. These returns were calculated as at 31 Oct 2025.

What is Mutual Income Fund A’s three-year total return?

Mutual Income Fund A’s one-year total return is 6.31%. This was made up of a growth return of 1.68% and an income return of 4.63%. These returns were calculated as at 31 Oct 2025.

What is the asset allocation of the Mutual Income Fund A managed fund?

The asset allocation of the Mutual Income Fund A managed fund is :

Cash: 5.91%

Fixed Interest: 94.09%

Australian Equities: 0%

International Equities: 0%

Alternatives: 0%

Who is the responsible Entity of the Mutual Income Fund A managed fund?

The Responsible Entity for the Mutual Income Fund A managed fund is Mutual Limited.

What sector/asset class does the Mutual Income Fund A managed fund belong to?

The Mutual Income Fund A managed fund belongs to the Diversified Credit sector/asset class.

What is the size of the Mutual Income Fund A managed fund?

As at 31 Oct 2025, the size of the Mutual Income Fund A managed fund was $694.32 million.

What is the inception date of the Mutual Income Fund A managed fund?

The Mutual Income Fund A managed fund has an inception date of 2 Apr 2013.

What is the current entry price of the Mutual Income Fund A managed fund?

The current entry price of the Mutual Income Fund A managed fund is $1.05731 per unit and the current exit price is $1.05731 per unit (as at 20 Nov 2025).

What is the current exit price of the Mutual Income Fund A managed fund?

The current exit price of the Mutual Income Fund A managed fund is $1.05731 per unit and the current entry price is $1.05731 per unit (as at 20 Nov 2025).

What is the minimum investment amount for the Mutual Income Fund A managed fund?

The minimum initial investment amount for the Mutual Income Fund A managed fund is $1. Minimum additional investment is $1.

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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