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North Index Moderately Defensive - Managed Fund

Fund Objective
To provide modest growth in your investment over the medium term with some fluctuations in value likely.
Fund Strategy
The fund seeks to invest in a diversified mix of growth and defensive assets. Growth assets such as shares and property will have an average allocation over time of around 50%; with the balance in defensive assets such as cash and fixed interest. The fund tries to achieve its objective by using a range of complementary specialist investment managers.

Fund Performance Comparison

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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.
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Fund performance

  1M 3M 6M 1Y p.a. 2Y p.a. 3Y p.a. 5Y p.a. 10Y p.a.
Total return 1.34% 4.22% 5.82% 9.83% 10.75% 9.41% 6.63% 6.22%
Growth return 1.34% 2.77% 4.35% 7.69% 6.4% 5.48% 1.65% 1.04%
Income return 0% 1.45% 1.47% 2.14% 4.35% 3.93% 4.98% 5.18%
Market index (Morningstar AUS Balance Tgt Alloc NR AUD)
Total return 1.42% 4.1% 5.63% 9.6% 10.37% 9.02% 6.33% 6.31%
As at 31 Aug 2025. Returns for periods greater than 1 year are annualised. All figures are percentages.

Asset Allocation

North Index Moderately Defensive
Australian Equities
21.39%
International Equities
31.88%
Cash
9.70%
Property & Infrastructure
2.86%
Fixed Interest
34.16%
Alternatives
0%
Average Allocation of Peers
Australian Equities
16.39%
International Equities
27.86%
Cash
8.26%
Property & Infrastructure
3.78%
Fixed Interest
36.21%
Alternatives
7.50%

General Information

Fund Details
Type Description
North Index Moderately Defensive (Wholesale)
IPAC Asset Management Limited
NMM0112AU
Multisector Balanced
starstarstarstar (as at 31 Aug 2025)
Investment Fund
1 Sep 1999
$310.04 million (as at 31 Jul 2025)
$1.0898 (as at 12 Sep 2025)
$1.0885 (as at 12 Sep 2025)
Open
Offer information
Type Description
MER 0.46% (as at 12 May 2025)
Indirect Cost Ratio (ICR) 0.46% (as at 31 Dec 2024)
Performance fee (not included in ICR) 0
Minimum initial investment $10,000,000
Minimum additional investments $5,000.00
Minimum redemption amount

Top 10 holdings (as at 31 Mar 2025)

Holding (as at 31 Mar 2025) Type % of Portfolio
Commonwealth Bank of Australia Equity 2.24%
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FAQs about the North Index Moderately Defensive

The objective of the North Index Moderately Defensive managed fund is To provide modest growth in your investment over the medium term with some fluctuations in value likely.

The strategy of the North Index Moderately Defensive managed fund is The fund seeks to invest in a diversified mix of growth and defensive assets. Growth assets such as shares and property will have an average allocation over time of around 50%; with the balance in defensive assets such as cash and fixed interest. The fund tries to achieve its objective by using a range of complementary specialist investment managers.

The APIR code of the North Index Moderately Defensive managed fund is NMM0112AU.

North Index Moderately Defensive’s total return last month was 1.34%. This was made up of a growth return of 1.34% and an income return of 0%. These returns were calculated as at 31 Aug 2025.

North Index Moderately Defensive’s total return for the last three months was 4.22%. This was made up of a growth return of 2.77% and an income return of 1.45%%. These returns were calculated as at 31 Aug 2025.

North Index Moderately Defensive’s one-year total return is 9.83%. This was made up of a growth return of 7.69% and an income return of 2.14%. These returns were calculated as at 31 Aug 2025.

North Index Moderately Defensive’s one-year total return is 9.41%. This was made up of a growth return of 5.48% and an income return of 3.93%. These returns were calculated as at 31 Aug 2025.

The asset allocation of the North Index Moderately Defensive managed fund is :

Australian Equities
21.39%
International Equities
31.88%
Cash
9.70%
Property & Infrastructure
2.86%
Fixed Interest
34.16%
Alternatives
0%

The Responsible Entity for the North Index Moderately Defensive managed fund is IPAC Asset Management Limited.

The North Index Moderately Defensive managed fund belongs to the Multisector Balanced sector/asset class.

As at 31 Jul 2025, the size of the North Index Moderately Defensive managed fund was $310.04 million.

The North Index Moderately Defensive managed fund has an inception date of 1 Sep 1999.

The current entry price of the North Index Moderately Defensive managed fund is $1.0898 per unit and the current exit price is $1.0885 per unit (as at 12 Sep 2025).

The current exit price of the North Index Moderately Defensive managed fund is $1.0885 per unit and the current entry price is $1.0898 per unit (as at 12 Sep 2025).

The minimum initial investment amount for the North Index Moderately Defensive managed fund is $10,000,000. 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.