Spheria Australian Microcap - Managed Fund

Fund Objective

The Fund aims to outperform the S&P/ASX Small Ordinaries Accumulation Index over the medium to long term.

Fund Strategy

Spheria is a fundamental based investment manager with a bottom-up focus, specialising in smaller companies. Spheria's investment philosophy is to purchase securities where the present value of future free cash flows can be reasonably ascertained, and the security is trading at a discount to the calculated intrinsic value, subject to certain risk criteria.

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.

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Fees Comparison

% p.a.

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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	11.66%	16.89%	15.4%	23.42%	18.25%	15.17%	22.03%	-%
Growth return	11.66%	10.36%	8.95%	16.53%	12.75%	9.88%	14.67%	-%
Income return	0%	6.53%	6.45%	6.89%	5.5%	5.29%	7.36%	-%
Market index (S&P/ASX Small Ordinaries TR AUD)
Total return	8.41%	12.42%	16.72%	23.4%	15.71%	9.81%	7.91%	9.19%

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

Asset Allocation

Spheria Australian Microcap

Australian Equities: 92.16%

International Equities: 5.94%

Cash: 1.90%

Property & Infrastructure: 0%

Fixed Interest: 0%

Alternatives: 0%

Average Allocation of Peers

Australian Equities: 91.26%

International Equities: 3.88%

Cash: 3.90%

Property & Infrastructure: 0.34%

Fixed Interest: 0%

Alternatives: 0.60%

General Information

Fund Details

Type	Description
Fund Name	Spheria Australian Microcap
Responsible Entity	Pinnacle Fund Services Limited
APIR Code	WHT0066AU
Sector/Asset Class	Equity Australia Mid/Small Blend
Morningstar Rating	(as at 31 Aug 2025)
Legal Structure	Investment Fund
Fund Inception	16 May 2016
Fund Size	$290.18 million (as at 29 Aug 2025)
Entry Price	$2.0323 (as at 12 Sep 2025)
Exit Price	$2.0121 (as at 12 Sep 2025)
Fund Status	Open

Offer information

Type	Description
MER	3.74% (as at 30 May 2025)
Indirect Cost Ratio (ICR)	4.31% (as at 30 Jun 2024)
Performance fee (not included in ICR)	2.96
Minimum initial investment	$25,000
Minimum additional investments	$5,000.00
Minimum redemption amount	$5,000.00

Top 10 holdings (as at 31 Aug 2025)

Holding (as at 31 Aug 2025)	Type	% of Portfolio
Infomedia Ltd	Equity	4.74%
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FAQs about the Spheria Australian Microcap

What is the objective of the Spheria Australian Microcap managed fund?

The objective of the Spheria Australian Microcap managed fund is The Fund aims to outperform the S&P/ASX Small Ordinaries Accumulation Index over the medium to long term.

What is the strategy for the Spheria Australian Microcap managed fund?

The strategy of the Spheria Australian Microcap managed fund is Spheria is a fundamental based investment manager with a bottom-up focus, specialising in smaller companies. Spheria's investment philosophy is to purchase securities where the present value of future free cash flows can be reasonably ascertained, and the security is trading at a discount to the calculated intrinsic value, subject to certain risk criteria.

What is the APIR code of the Spheria Australian Microcap managed fund?

The APIR code of the Spheria Australian Microcap managed fund is WHT0066AU.

What was Spheria Australian Microcap’s total return last month?

Spheria Australian Microcap’s total return last month was 11.66%. This was made up of a growth return of 11.66% and an income return of 0%. These returns were calculated as at 31 Aug 2025.

What was Spheria Australian Microcap’s total return for the last three months?

Spheria Australian Microcap’s total return for the last three months was 16.89%. This was made up of a growth return of 10.36% and an income return of 6.53%%. These returns were calculated as at 31 Aug 2025.

What is Spheria Australian Microcap’s one-year total return?

Spheria Australian Microcap’s one-year total return is 23.42%. This was made up of a growth return of 16.53% and an income return of 6.89%. These returns were calculated as at 31 Aug 2025.

What is Spheria Australian Microcap’s three-year total return?

Spheria Australian Microcap’s one-year total return is 15.17%. This was made up of a growth return of 9.88% and an income return of 5.29%. These returns were calculated as at 31 Aug 2025.

What is the asset allocation of the Spheria Australian Microcap managed fund?

The asset allocation of the Spheria Australian Microcap managed fund is :

Australian Equities: 92.16%

International Equities: 5.94%

Cash: 1.90%

Property & Infrastructure: 0%

Fixed Interest: 0%

Alternatives: 0%

Who is the responsible Entity of the Spheria Australian Microcap managed fund?

The Responsible Entity for the Spheria Australian Microcap managed fund is Pinnacle Fund Services Limited.

What sector/asset class does the Spheria Australian Microcap managed fund belong to?

The Spheria Australian Microcap managed fund belongs to the Equity Australia Mid/Small Blend sector/asset class.

What is the size of the Spheria Australian Microcap managed fund?

As at 29 Aug 2025, the size of the Spheria Australian Microcap managed fund was $290.18 million.

What is the inception date of the Spheria Australian Microcap managed fund?

The Spheria Australian Microcap managed fund has an inception date of 16 May 2016.

What is the current entry price of the Spheria Australian Microcap managed fund?

The current entry price of the Spheria Australian Microcap managed fund is $2.0323 per unit and the current exit price is $2.0121 per unit (as at 12 Sep 2025).

What is the current exit price of the Spheria Australian Microcap managed fund?

The current exit price of the Spheria Australian Microcap managed fund is $2.0121 per unit and the current entry price is $2.0323 per unit (as at 12 Sep 2025).

What is the minimum investment amount for the Spheria Australian Microcap managed fund?

The minimum initial investment amount for the Spheria Australian Microcap 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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