IAM Small Companies Fund

Fund Profile

Investment objective

To provide long-term capital growth from exposure to a portfolio of Australian securities classified as small companies on the ASX (ex top 100). The Fund aims to outperform the S&P/ASX Small Ordinaries Accumulation Index.

Investment strategy

The Fund invests predominantly in securities or unit trusts listed or expected to be listed on the Australian Securities Exchange within the S&P/ASX Small Ordinaries Accumulation Index. A top down, or macro economic, view is taken by the investment manager to identify preferred sectors, which is then combined with bottom up stock picking, with 40-80 stocks ultimately held in the portfolio. The tracking error is up to 8% p.a. ex-ante. The Fund can invest up to 20% outside the S&P/ASX Small Ordinaries Index.

Asset sector ranges Min % Max %⁺

Australian shares: 90 100
Australian cash: 0 10

Time frame

Suggested minimum investment time frame is 5+ years

Investment Management

Independent Asset Management Pty Limited

Management fee

0.51 plus the Minimum Annual Fee where the fund value is less than $25 million.

Expenses recoveries

0.10% pa

Performance Fee

21.5 % - The hurdle for the Fund is the S&P/ASX Small Ordinaries Accumulation Index plus the investment manager’s fee

Download PDS

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⁺ The asset sector ranges referred to above may be exceeded from time to time due to a number of factors, such as large inflows into a Fund or through significant market movements. We aim to maintain the Fund’s exposure within these ranges over the longer term.
^* The Management fee listed above is effective 1 April 2010 is calculated as a percentage of the net asset value of the Fund and includes the management fee of Ventura and the investment manager, as well as custodial and registry fees. It excludes out-of-pocket expenses such as legal fees, auditors and other expert’s fees and the cost of printing. These costs are not expected to exceed 0.10% p.a. of the net value of a Fund, refer to the Product Disclosure Statement for more detail.

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