Monash Absolute Active Trust (Hedge Fund) ASX Code: MAAT

Listed on the ASX, this Exchange Traded Managed Fund (“ETMF) is an actively managed fund targeting 6% p.a. income distribution. The ETMF does not track a benchmark. It is a long biased,  long/short Australian equity fund that invests in a diversified portfolio of Australian listed equities . The launch of MAAT was established in relation to the restructure of the Monash Absolute Investment Company Limited (ASX: MA1) into an exchange traded managed fund.

Please Click Here to see the frequently asked questions (FAQ) pertaining to the MA1 restructure.

Information on the MA1 Net Tangible Asset (NTA) as 30 June 2021 can be downloaded here

 

Key Features
  • Multi-distributed managed fund which means that investors can buy and sell units on the ASX or directly with the Responsible Entity (Perpetual)
  • The Fund invest in a diversified portfolio of Australian listed equities
Key Benefits
  • Quarterly income distribution of at least 1.5% p.a.
  • Managed by Monash Investors experienced and award winning investment team
Fund Objective

The Fund’s investment objective is to deliver positive returns over a full market cycle, while limiting loss of capital over the medium term.

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Monash is a proven long short Australian equities manager that is only looking to invest in a concentrated portfolio of compelling opportunities (long and short) that can be identified in advance because of recurring business situations or patterns of behaviour.  As such, the strategy is benchmark unaware, stock size agnostic and can hold cash if there are no opportunities that meet the firm’s very high return hurdle. Examples of recurring situations include underestimation of significant change, analyst reputation management, overlooked signals, lack of analyst coverage, corporate motives by brokers and business distribution to name a few.

Invest with Confidence

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Proven Over Time

Double Digit Returns (after fees) since inception in the Unlisted Fund (MAIF)

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6% p.a. Target Distribution

Targeting to pay at least 1.50% of NAV per quarter

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Easy to Invest

Buy and Sell via the ASX around iNAV during the trading hours (ASX Code: MAAT)

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Compelling Opportunities Only

Investing in stocks with at least +60% upside for long investments or -30% downside for shorts

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Unique Philosophy

Use 60+ years of experience to identify compelling stocks in advance through recurring patterns of market behaviour

Ways To Invest

  1. Invest through the ASX
  2. Invest directly with the Fund by completing an application form
  3. Speak to a Financial Advisor

Investors should read the Product Disclosure Statement (PDS) prior to investing. There are differences between buying and selling Units on the ASX and applying for Units or making a withdrawal request to the Responsible Entity. These differences include, but are not limited to, the unit price Investors will receive for their application or redemption For more information on investing in MAAT and the differences between buying and selling Units on the ASX and applying for Units or making a withdrawal request to the Responsible Entity, please refer to sections 11 and 12 in the Fund’s PDS “Investing in the Fund” .

Latest Daily Unit Price

The iNAV reflects the estimated NAV per Unit updated for movements in the Fund’s portfolio stocks by individual stock domicile and is also updated in respect of stocks that have live market prices during the ASX Trading Day. If there are no stocks held by the Fund that have live market prices during the ASX Trading Day, movements in the iNAV will only reflect foreign exchange movements. The iNAV will not be updated for market-based movements such as movements in stock market indices. The iNAV is provided by Interactive Data and is updated during Australian Securities Exchange trading hours. It is indicative and for reference purposes only, and is subject to

ASX: MAAT Investors Login

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MAAT Fact Sheet

About The Fund

ASX Code MAAT
Bloomberg Code MAAT AU
IRESS Code MAAT.AXW
Trading Hours 10.00-16.00 (AEST)
iNAV IRESS Code MAAT-AUINAV
Key Fund Facts
ASX Code MAAT
Investment Manager Monash Investors Pty Limited
Responsible Entity (RE) The Trust Company (RE Services) Limited ("Perpetual")
Management Fee 1.3833% p.a. of the NAV out of which the Responsible Entity's management fee is also paid.
Performance Fee Hurdle RBA cash rate + 5%
Performance Fee 20% excess return above the Benchmark after management fee
Distributions Quarterly of at least 1.50% p.a. of NAV
APIR Code PIM5260AU
ARSN 642 280 331
Minimum Investment If buying on the ASX, $Nil
If applying directly with RE , $10,000

Performance (after Fees)

Performance figures contained on this Website are not necessarily indicative of future returns and should be used as a general guide only. Returns on investments necessarily are volatile and subject to change and likely to vary from year to year. These returns are likely to vary from year to year. Returns have been calculated using exit prices after taking into account all ongoing fees, and assuming reinvestment of distributions. No allowance has been made for taxation. Future returns may bear no relationship to the historical information displayed. Returns in a Fund can be particularly volatile in the short term and in some periods may be negative. Neither Perpetual nor Monash Investors makes any guarantee or representation in regards to the performance of any of the funds, nor the specific rate of return to investors or the return of capital.

Portfolio Holdings

Information coming soon

Unit Pricing

Distributions

MAAT is an Attribution Managed Investment Trust (AMIT) for the year ended 30 June 2021. Your AMMA Statement includes amounts attributed to you from the fund relating to the year ended 30 June 2021. You may be required to include these amounts in your tax return for the 2021 financial year.

The final June 2021 distribution is 1.6 cents per unit and the only component is “other non-attributable amounts” and therefore no WHT has been applied.

Fund payment notice is issued to unitholders on 22 July 2021. The Fund Payment Amount is provided solely for the purposes of the Tax Administration Act 1953 and should not be used for any other purpose. Tax components will be advised in the AMIT member annual (“AMMA”) statement.

Ex Date Record Date Payment Date Distribution Quarterly Distribution Return
01-07-21 02-07-21 22-07-21 1.6c 1.50%

How To Invest

Investors can invest in the Fund by buying Units on the ASX or applying for Units directly by completing an Application Form and giving it to the Responsible Entity. Investors can invest in the Fund by purchasing Units via their trading platform or stockbroker. An Application Form is not required to be completed by Investors acquiring Units on the ASX as they will settle the purchase of their Units in the same way they would settle purchases of listed securities by the ASX CHESS settlement service. Units may also be acquired by completing the Application Form . The application will generally be accepted if you provide a correctly completed Application Form, identification documents (if applicable) and cleared application money before or at 2.00pm (Sydney time) on a Business Day. You will generally receive the Application Price calculated for the Business Day. There are differences between buying and selling Units on the ASX and applying for Units (or making a withdrawal request) to the Responsible Entity. These differences include, but are not limited to, the unit price Investors will receive for their application, and whether minimum investment amounts apply to their investment.
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ASX Announcement

To view more information and ASX announcements please visit the ASX website.
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FAQs

What is the minimum initial investment amount?
If you invest on the ASX there is no initial minimum investment amount. The minimum initial investment amount for Investors applying for Units directly with the Responsible Entity is $10,000. Additional investments can be made into an existing account at any time. A minimum amount may apply to  additional investments depending on the method of your payment. Please also refer to sections 11 and 12 of the PDS.
What is the difference between the ASX quoted price and the daily unit price (NAV)?

The daily unit price reflects the Net Asset Value (NAV) at the end of the trading day.

As an active ETF, MAAT will publish an indicative NAV (“iNAV”) which reflects the real time movements in stock markets during the ASX Trading Day and, for securities not trading during the ASX Trading Day, listed proxy instruments. The iNAV represents the best estimate of the value per unit MAAT throughout the trading day. The iNAV calculation is performed by ICE Data and then provided to Macquarie Securities (Australia) Limited, the market maker which acts as an agent of MAAT.

What are the fees?

Please refer to section 10 “Fees and other costs” of the PDS.

How to withdraw my investment in the Fund?
Investors can exit the Fund either by directly making a withdrawal request to the Responsible Entity using a Withdrawal Form or by selling Units on the ASX. You need to hold your Units on the issuer sponsored sub-register to make a withdrawal request directly to the Responsible Entity. Your stockbroker can assist you with this process if you hold your Units on a HIN. The method by which you enter the Fund does not affect the method by which you can exit the Fund. If you enter the Fund by buying Units on the ASX you can exit the Fund by selling Units on the ASX or by withdrawing directly with the Responsible Entity. If you enter the Fund by applying for Units directly with the Responsible Entity you can exit the Fund by selling Units on the ASX or by withdrawing directly with the Responsible Entity. There are important differences between entering and exiting the Fund via the ASX or by applying for and withdrawing Units directly with the Responsible Entity. An investor who redeems Units directly with the Responsible Entity is likely to receive a different price for their Units in the Fund to an investor who sells their Units on the ASX at the exact same time.  These differences in prices received by investors may result in a different return from an investment in the Fund.

This information is issued by Monash Investors Pty Limited ABN 67 153 180 333, AFSL 417 201 (“Monash Investors”) as authorised representatives of Winston Capital Partners Pty Ltd ABN 29 159 382 813, AFSL 469 556 (“Winston Capital”) for the provision of general financial product advice in relation to the Monash Absolute Active Trust (Hedge Fund) ASX:MAAT ARSN 642 280 331 (“Fund”). Monash Investors is the investment manager of the Fund. The Trust Company (RE Services) Limited ABN 45 003 278 831, AFSL 235 150 (“Perpetual”) is responsible entity of, and issuer of units in, the Fund. The inception date of the Fund is 28 May 2021.

The information provided in this document is general information only and does not constitute investment or other advice. The content of this document does not constitute an offer or solicitation to subscribe for units in the Fund or an offer to buy or sell any financial product. Accordingly, reliance should not be placed on this document as the basis for making an investment, financial or other decision. This information does not take into account your investment objectives, particular needs or financial situation. Monash Investors, Winston Capital and Perpetual do not accept liability for any inaccurate, incomplete or omitted information of any kind or any losses caused by using this information. Any investment decision in connection with the Fund should only be made based on the information contained in the disclosure document for the Fund. A product disclosure statement (“PDS”) issued by Perpetual dated 14 April 2021 is available for the Fund. You should obtain and consider the PDS for the Fund before deciding whether to acquire, or continue to hold, an interest in the Fund.

Total returns shown for the Fund have been calculated using exit prices after taking into account all ongoing fees and assuming reinvestment of distribution. No allowance has been made for taxation Past performance is not a reliable indicator of future performance. Comparisons are provided for information purposes only and are not a direct comparison against benchmarks or indices that have the same characteristics as the Fund. Reference to Target Distributions, is a target return only. There is no guarantee that the Fund will meet its investment objective. The payment of a quarterly distribution is a goal of the Fund only and neither Monash Investors or Perpetual provide any representations or warranty (whether express or implied) in relation to the payment of any quarterly cash income. The Trust reserves the discretion to amend its distribution policy

Past performance is not a reliable indicator of future performance. Comparisons are provided for information purposes only and are not a direct comparison against benchmarks or indices that have the same characteristics as the Fund.

Monash Investors, Winston Capital and Perpetual do not guarantee repayment of capital or any particular rate of return from the Fund and do not give any representation or warranty as to the reliability, completeness or accuracy of the information contained in this document. All opinions and estimates included in this document constitute judgments of Monash Investors as at the date of this document are subject to change without notice. Perpetual is not responsible for this document.

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