AFM Fund Profile — Yarra Income Plus Fund

Fund & Manager Details

Key Facts

Fund Type: Single Discretionary/Quantitative: Discretionary
Strategy: Fixed Income FUM (millions): AU$67.8m
Style: Value Fund Inception Date: Since 01 May 1998
Geographic Mandate: Australia/Global Latest Return Date: September 2024
Fund Domicile: Australia Investor Type: Wholesale & Retail
Status: Open Reporting Status: Current

Manager Details and Fund Description

Manager: Yarra Capital Management Total FUM for all funds: AU$6,700m
Manager Overview:
Yarra Capital Management was established in 2007 following the management buyout of Goldman Sachs Asset Management's Australian-focused investment capabilities and operating platform, backed by TA Associates, a global growth private equity firm with a long history of investing in funds management companies.

The firm is led by the senior management team comprising Dion Hershan (Managing Director and Head of Australian Equities), Katie Hudson (Portfolio Manager and Head of Australian Equities Research), Roy Keenan (Head of Australian Fixed Income) and Brett Davidson (Chief Operating Officer). Dion, Katie, Roy and Brett lead a team of more than 35 professionals focused on delivering the best outcomes for the firm's institutional and retail clients. The investment team comprises 15 investment professionals with an average 14 years' industry experience.
Fund/Strategy Overview:
The Yarra Capital Income Plus Fund is designed to provide regular income and achieve medium term capital growth through exposure to cash, money market products, domestic fixed interest and a range of high yielding investments, including domestic hybrid investments, property infrastructure, utilities securities and international fixed interest assets. In doing so, the aim is to outperform the Bloomberg AusBond Bank Bill index over rolling 3-year periods.
Other funds operated by manager:
Yarra Australian Bond Fund, Yarra Australian Equities Fund, Yarra Emerging Leaders Fund, Yarra Enhanced Income Fund

Investment Details

Investment Terms

Minimum Investment: Minimum Additional Investment: Minimum Term: Investment Frequency:
AU$50,000 Daily
Regular Savings Option: Regular Savings Min. Amount : Regular Savings Max. Amount : Regular Savings Freq.:
No  
Redemption Notice: Redemption Frequency: Notes:
7 Days Daily
Distributions: Distribution Frequency: Last Distribution Date: Last Distribution Amount:
Yes Quarterly AU$

Structure

Offshore/Onshore: Fund Structure: Share Classes: Trustee/Responsible Entity:
Onshore Unit Trust AU$ Yarra Funds Management Limited
Administrator: Prime Broker: Custodian: Legal:
Yarra Funds Management N/A RBC Investor Services Internal

Fund Fees

Management Fee: Performance Fee: High Water Mark: Hurdle:
0.68% 0% N/A N/A
Buy Spread: Sell spread: Early Redemption Fee: Fees Notes:
0.100% 0.100% No

Performance & Risk

Returns

Latest Return Date: Latest Result: Fund Inception Date: Annualised Return:
September 2024 0.85% 01 May 1998 5.45%
Latest 3 Months: Latest 6 Months: Latest 12 Months: Latest 2 Years p.a.:
3.02% 3.31% 10.08% 7.92%
Latest 3 Years p.a.: Latest 4 Years p.a.: Latest 5 Years p.a.: Latest 7 Years p.a.:
3.87% 4.11% 2.96% 3.66%

Performance Statistics

% Positive Months (S.I.): Average Return: Average +ve Return: Average -ve Return:
72.78% 0.45% 0.88% -0.74%
Best Month: Worst Month: Up Capture Ratio (S.I.): Down Capture Ratio (S.I.):
2.93% -7.07% 49.69% -0.55%
Largest Drawdown (S.I.): Longest Drawdown (S.I.): Current Drawdown (%): Current Drawdown (Months):
-7.84% 21 months 0.00% N/A

Risk

Annualised Standard Deviation (S.I.): Downside Deviation (S.I.): Sortino Ratio (S.I.): -
3.41% 2.50% 0.70 -
Sharpe Ratio (12 months): Sharpe Ratio (3 years): Sharpe Ratio (5 years): Sharpe Ratio (S.I.):
1.58 0.29 0.27 0.53
Please note, Sharpe and Sortino ratios are calculated using the Australian Risk Free Rate

Ranking, Research & Availability

Fund Quintile in its Peer Group (Fixed Income - Bonds) as at August 2024

AFM's Quintile Rankings show performance and Key Performance Indicators (KPI's) of Yarra Income Plus Fund compared to a peer group of funds with a similar strategy and geographic mandate. Each green square places a fund in one quintile (or 20%) of its peer group - five indicating that the fund is in the top (best) quintile for the corresponding KPI.

As a reference point the equivalent "quintile" performance of the peer group's underlying market index is also indicated by the red dot.

1 Year
3 Year
5 Year
7 Year
Yarra Income Plus Fund
Bloomberg AusBond Composite 0+ Yr Index

External Research and Ratings: As reported by each Fund Manager.

No external fund ratings provided

Availability:As reported by each Fund Manager.

No investment platforms supplied

News & Insights

The Rate Debate - Ep51 The rest of the world is changing, so why aren't we?
4 Oct 2024 - Yarra Capital Management
The big question remains: will Australia follow the Fed's lead or stick to its current path?
Read more...
What happened to the post-COVID savings buffer?
29 Aug 2024 - Yarra Capital Management
Remember when the RBA consistently referred to the buffer of "excess savings" accumulated during the post COVID period? Have you noticed that they have largely stopped talking about it in their public communications?
Read more...
Dion Hershan: 805 days down (and counting)
22 Aug 2024 - Yarra Capital Management
With interest rate hikes starting to bite, Dion Hershan, Head of Australian Equities, asks just how resilient will Australia's economy prove to be against some obvious strengthening headwinds?
Read more...

Fund Documents

Manager's Report

Product disclosure/IM

Target Market Determination



Fund Performance

Historical Performance (all figures shown here are net of fees unless otherwise stated)

Year Jan % Feb % Mar % Apr % May % Jun % Jul % Aug % Sep % Oct % Nov % Dec % YTD %
2024 0.46 0.72 1.49 -1.01 0.71 0.59 1.44 0.70 0.85 N/R N/R N/R 6.10
2023 2.05 0.02 0.55 0.93 -0.46 -0.30 1.05 0.30 -0.97 -0.92 2.14 2.52 7.05
2022 -1.41 -0.13 -0.19 -0.18 -0.87 -1.08 2.00 -0.73 -2.07 1.48 1.89 -0.83 -2.18
2021 -0.56 -0.49 1.12 0.76 0.03 1.02 0.43 0.69 -0.24 -0.67 0.78 0.74 3.65
2020 1.20 -0.83 -7.07 2.93 0.69 0.33 0.04 0.62 0.45 0.16 1.63 0.23 0.04
2019 1.19 0.97 1.10 0.13 0.77 1.19 0.97 0.38 -0.36 0.35 0.41 -0.31 6.98
2018 -0.48 -0.35 0.01 0.85 0.47 0.75 0.30 0.73 -0.29 -0.24 0.03 0.74 2.55
2017 -0.14 0.87 0.93 0.80 0.72 -0.54 -0.06 0.48 -0.29 0.97 0.93 -0.13 4.61
2016 0.13 0.39 0.88 1.01 1.13 0.60 1.60 0.12 -0.42 -1.16 -0.34 1.39 5.42
2015 0.97 1.41 0.00 0.46 0.81 -1.40 1.51 -0.90 -0.52 1.50 -0.22 -0.17 3.45
2014 0.53 0.93 0.20 0.81 0.62 0.54 0.64 0.58 -0.93 0.76 -0.19 0.80 5.41
2013 0.98 0.73 0.48 1.31 0.28 -1.02 0.67 0.63 1.04 0.94 -0.34 0.68 6.56
2012 0.90 0.41 0.67 0.76 0.06 0.42 1.09 0.84 0.61 1.46 0.28 1.16 8.99
2011 0.72 0.92 0.16 0.73 0.51 -0.09 -0.44 -0.35 -0.60 1.21 0.31 0.73 3.85
2010 0.74 0.58 0.71 1.13 -1.51 0.62 1.72 1.06 1.20 0.80 0.00 0.65 7.95
2009 0.55 -2.53 1.34 2.02 1.26 0.83 2.22 1.54 2.59 0.71 0.05 1.91 13.12
2008 -1.10 -1.00 -0.33 1.58 -0.33 -1.79 0.71 1.50 -1.71 -3.32 -0.20 0.69 -5.28
2007 0.94 0.58 0.01 0.88 0.55 -0.25 -0.17 0.79 0.68 0.15 -0.30 -0.22 3.68
2006 0.14 0.96 0.34 0.29 0.06 1.12 0.75 1.15 1.02 0.63 1.27 1.00 9.09
2005 0.45 0.18 -0.13 0.27 0.39 1.30 1.08 0.80 0.15 -0.19 1.38 1.59 7.49
2004 0.75 1.19 0.93 -0.18 1.40 0.48 0.55 0.54 0.67 0.86 0.97 1.10 9.66
2003 1.01 -0.64 1.87 2.40 0.62 1.64 0.24 1.20 0.43 1.26 0.42 1.23 12.27
2002 0.13 0.79 0.98 1.14 0.34 -1.25 -0.98 0.83 -0.05 0.74 2.45 1.16 6.41
2001 1.91 0.51 -0.41 -0.46 0.64 -0.26 1.41 0.88 -2.28 1.21 1.58 0.83 5.62
2000 -1.74 -0.04 -0.65 2.01 0.58 2.14 1.55 0.87 -0.40 -0.24 -0.47 1.34 4.97
1999 1.84 -0.39 0.30 -0.08 -1.87 0.79 1.89 0.03 0.22 -0.11 0.02 0.15 2.79
1998 N/R N/R N/R N/R N/R 0.00 0.39 -1.10 2.02 1.40 1.44 0.78 5.00

Historical Financial Year Performance (all figures shown here are are percentage per month net of fees unless otherwise stated)

Year Jul % Aug % Sep % Oct % Nov % Dec % Jan % Feb % Mar % Apr % May % Jun % FYTD %
2024/2025 1.44 0.70 0.85 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3.02
2023/2024 1.05 0.30 -0.97 -0.92 2.14 2.52 0.46 0.72 1.49 -1.01 0.71 0.59 7.26
2022/2023 2.00 -0.73 -2.07 1.48 1.89 -0.83 2.05 0.02 0.55 0.93 -0.46 -0.30 4.52
2021/2022 0.43 0.69 -0.24 -0.67 0.78 0.74 -1.41 -0.13 -0.19 -0.18 -0.87 -1.08 -2.12
2020/2021 0.04 0.62 0.45 0.16 1.63 0.23 -0.56 -0.49 1.12 0.76 0.03 1.02 5.09
2019/2020 0.97 0.38 -0.36 0.35 0.41 -0.31 1.20 -0.83 -7.07 2.93 0.69 0.33 -1.63
2018/2019 0.30 0.73 -0.29 -0.24 0.03 0.74 1.19 0.97 1.10 0.13 0.77 1.19 6.81
2017/2018 -0.06 0.48 -0.29 0.97 0.93 -0.13 -0.48 -0.35 0.01 0.85 0.47 0.75 3.18
2016/2017 1.60 0.12 -0.42 -1.16 -0.34 1.39 -0.14 0.87 0.93 0.80 0.72 -0.54 3.86
2015/2016 1.51 -0.90 -0.52 1.50 -0.22 -0.17 0.13 0.39 0.88 1.01 1.13 0.60 5.43
2014/2015 0.64 0.58 -0.93 0.76 -0.19 0.80 0.97 1.41 0.00 0.46 0.81 -1.40 3.94
2013/2014 0.67 0.63 1.04 0.94 -0.34 0.68 0.53 0.93 0.20 0.81 0.62 0.54 7.51
2012/2013 1.09 0.84 0.61 1.46 0.28 1.16 0.98 0.73 0.48 1.31 0.28 -1.02 8.48
2011/2012 -0.44 -0.35 -0.60 1.21 0.31 0.73 0.90 0.41 0.67 0.76 0.06 0.42 4.13
2010/2011 1.72 1.06 1.20 0.80 0.00 0.65 0.72 0.92 0.16 0.73 0.51 -0.09 8.69
2009/2010 2.22 1.54 2.59 0.71 0.05 1.91 0.74 0.58 0.71 1.13 -1.51 0.62 11.82
2008/2009 0.71 1.50 -1.71 -3.32 -0.20 0.69 0.55 -2.53 1.34 2.02 1.26 0.83 1.00
2007/2008 -0.17 0.79 0.68 0.15 -0.30 -0.22 -1.10 -1.00 -0.33 1.58 -0.33 -1.79 -2.07
2006/2007 0.75 1.15 1.02 0.63 1.27 1.00 0.94 0.58 0.01 0.88 0.55 -0.25 8.86
2005/2006 1.08 0.80 0.15 -0.19 1.38 1.59 0.14 0.96 0.34 0.29 0.06 1.12 7.98
2004/2005 0.55 0.54 0.67 0.86 0.97 1.10 0.45 0.18 -0.13 0.27 0.39 1.30 7.37
2003/2004 0.24 1.20 0.43 1.26 0.42 1.23 0.75 1.19 0.93 -0.18 1.40 0.48 9.76
2002/2003 -0.98 0.83 -0.05 0.74 2.45 1.16 1.01 -0.64 1.87 2.40 0.62 1.64 11.54
2001/2002 1.41 0.88 -2.28 1.21 1.58 0.83 0.13 0.79 0.98 1.14 0.34 -1.25 5.84
2000/2001 1.55 0.87 -0.40 -0.24 -0.47 1.34 1.91 0.51 -0.41 -0.46 0.64 -0.26 4.62
1999/2000 1.89 0.03 0.22 -0.11 0.02 0.15 -1.74 -0.04 -0.65 2.01 0.58 2.14 4.52
1998/1999 0.39 -1.10 2.02 1.40 1.44 0.78 1.84 -0.39 0.30 -0.08 -1.87 0.79 5.60