September, 2023
TCW Global Securitised Debt was added to the Income Trust and Shenkman, Muzinich and Oaktree were added over the quarter through an allocation to the Extended Credit trust.
The alternative growth and defensive portfolios outperformed their benchmarks with good performance from mezzanine debt, real estate debt and private debt.
The international shares portfolio outperformed its benchmark with good performance from the Royal London intrinsic value portfolio.
Direct property portfolio underperformed as valuation headwinds increased as a result of high interest rates.
The fixed interest portfolio underperformed its benchmark with poor performance from Brandywine and Invesco.
File: https://commentary.quantreports.net/wp-content/uploads/2021/04/IOOFMS30FundProfile-3.pdfJune, 2023
Tanarra Asia-Pacific secured corporate debt and MLC insurance-related investments portfolios were added during the quarter.
The fixed interest portfolio outperformed its benchmark with good performance from the emerging market debt and income trust exposures.
The alternative growth and defensive portfolios outperformed their benchmarks with good performance from mezzanine debt and real estate debt.
The international shares portfolio outperformed its benchmark with good performance from the Royal London intrinsic value portfolio.
There were no detractors of significance
File: https://commentary.quantreports.net/wp-content/uploads/2021/04/IOOFMS30FundProfile-2.pdfMarch, 2023
There were no changes to the manager line-up over the quarter.
The alternative growth and defensive portfolios outperformed their benchmarks with good performance from private equity, private credit and infrastructure managers.
The international shares portfolio outperformed its benchmark with good performance from the underlying managers.
The fixed interest portfolio underperformed its benchmark due to active duration managers and overweight to credit.
File: https://commentary.quantreports.net/wp-content/uploads/2021/04/IOOFMS30FundProfile-1.pdfDecember, 2022
Intermediate Capital Group was appointed to the Alternative Growth portfolio to manage CLO Equity. AllianceBernstein Risk Premia Fund was terminated from the Alternative Defensive portfolio. Ardea Global Alpha Plus was terminated from the diversified fixed interest portfolio. The international shares portfolio outperformed its benchmark with good performance from the underlying managers. The fixed interest portfolio outperformed its benchmark due to active duration managers and overweight to credit. The Australian shares portfolio underperformed its benchmark with small caps underperforming the broader market.
File: https://commentary.quantreports.net/wp-content/uploads/2021/04/IOOFMS30FundProfile.pdfSeptember, 2022
Invesco Global Targeted Return Fund was terminated from the Alternatives portfolio due to Invesco deciding to change the underlying strategy of the Fund. The diversified fixed interest portfolio outperformed in a rising yield environment, due to its short duration positioning. Both Alternative Defensive and Growth portfolios produced positive returns in a challenging environment. There were no material detractors of note.
File: https://commentary.quantreports.net/wp-content/uploads/2021/04/193032901.pdfJune, 2022
There were no manager changes over the quarter.
An overweight to Alternatives contributed to performance, together with the underlying managers performing well - particularly private debt manager Metrics.
The diversified fixed interest portfolio outperformed in a rising yield environment, due to its short duration positioning.
Both the Australian and international equities portfolios outperformed their respective benchmarks.
An underweight to Cash and Direct Property, and an overweight to Australian equities detracted from performance.
March, 2022
There were no manager changes over the quarter. An overweight to Alternatives contributed to performance, together with the underlying managers performing well - particularly private debt manager Metrics. An underweight to fixed interest added value, as did the underlying managers within the fixed interest portfolio. International equities detracted from relative performance as both developed and emerging market managers underperformed.
File: https://commentary.quantreports.net/wp-content/uploads/2021/04/186557101.pdfJune, 2021
There were no manager changes over the quarter. Diversified fixed income portfolio outperformed as a result of sector allocation and security selection. Alternatives portfolio also outperformed, with solid performance from private debt manager, Metrics. International shares portfolio also outperformed following a restructure the previous quarter. Australian equities portfolio slightly underperformed its benchmark with value manager AB performing poorly.
File: https://commentary.quantreports.net/wp-content/uploads/2021/04/177734471.pdfDecember, 2020
The Australian shares portfolio underwent a restructure as a result of greater scale from ANZ funds. Two new active managers were appointed being Quest and Northcape. As a result, three managers were terminated being State Street, Yarra Capital and Invesco. Diversified fixed interest portfolio outperformed, with all underlying managers except Ardea outperforming their benchmarks. Western, Stone Harbor, Brandywine and Janus Henderson performed particularly well. Alternatives portfolio also outperformed, with solid performance from private debt manager, Metrics. The Australian equities portfolio underperformed with Acadian small caps and Northern Trust underperforming.
File: https://commentary.quantreports.net/wp-content/uploads/2021/04/166194397.pdfasset_class:
asset_category:
peer_benchmark:
broad_market_index:
manager_contact_details: Array
ticker: IOF0253AU
release_schedule: Quarterly
structure: Managed Fund
commentary_block: Array
factsheet_url:
https://www.ioof.com.au/investments/products-and-services/multiseries
Under Key Download
IOOF Multiseries 30 Fund Profile
or try the direct link below
fund_features:
IOOF MultiSeries 30 aims to provide stable returns over the medium term by investing in a diversified portfolio of mostly defensive assets with some growth asset exposure and to achieve total returns after fees in excess of the benchmark over a rolling three-year period. IOOF MultiSeries 30 (Trust) gains its exposure to a diversified portfolio of investments through a mix of investment managers. The conservative nature of the Trust provides a greater exposure to defensive assets, such as fixed interest and cash with a moderate exposure to growth assets, such as property, Australian and international shares and alternative assets. A mix of passive, factor based and active investment managers may be selected to manage the assets of the Trust providing differing yet complementary investment styles to achieve more consistent excess returns. The Trust is authorised to utilise approved derivative instruments for risk management purposes and investment efficiency. Please note that derivative instruments cannot be used to gear the Trust’s exposure. The underlying managers may utilise strategies for the management of currency exposure. It is the strategy of the Trust that international currency exposure may be hedged. The Trust has the capacity to change the level and nature of any currency overlay or allocation to underlying managers to manage currency risk.