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    Royal Commission

    ECAS January Monthly Report & Update

    Overview
    • Continued improvement in the dataflow and outlook saw credit spreads continuing their move narrower, amid continued strong demand for new issues. Higher break-even inflation drove higher bond yields and steeper yield curves.
    • Broader de-risking among some investors; a result of the well-publicised speculative activity in several small US stocks, saw uneven performance from equity markets and higher-beta credit.
    • Within Australian credit, financials slightly outperformed non-financials.
    • Credit spread compression continued to support the performance of our funds, while our (low) duration position detracted slightly.
    Performance
    Month (%)Quarter (%)1 Year (%)Since Inception* (% p.a.)
    eInvest Cash Booster Fund (ECAS)0.020.120.760.79
    RBA Cash Rate0.010.030.270.36
    Excess Return0.020.090.500.43

    ^Inception date for the eInvest Cash Booster Fund was 12 November 2019. Performance shown above are net of fees. Fund returns are calculated using net asset value per unit of the underlying fund at the start and end of the specified period and do not reflect the brokerage or the bid/ask spread that investors incur when buying and selling 

    Performance

    ECAS Fund and Investment Objective 

    ECAS provides investors with regular monthly income. ECAS invests in APRA regulated Authorised Deposit Taking Institutions as well as a range of high quality, investment-grade bonds and floating rate notes.

    ECAS aims to provide investors a high level of capital stability over the short term, by investing in a diversified portfolio of cash and short-term money market and fixed income securities, and to provide a total return (after fees) that exceeds the RBA Cash Rate by 50 basis points measured annually.

    Key Statistics  
    • Modified duration: 0.09
    • Portfolio Yield: 0.40
    • Average Credit Quality: A-1
    • Management Cost: 0.15% (incl of GST and RITC)
    • Inception Date: 12 November 2019
    • Monthly Cash Income: ECAS had a distribution of $0.03125 in January 2020

     

    To read more about eInvest Cash Booster Fund (Managed Fund) Code: ECAS, click here.

    Interested in purchasing units in the fund? Contact your financial adviser or simply purchase via your online broker, and as always read the PDS for more information. This can be found here. 

    Keen to learn more? Read why Active managers tend to outperform passive fixed income managers.

    Past performance is not a reliable indicator of future performance. Please read the PDS prior to investing. This information is general in nature and is subject to the terms and conditions outlined here.