IOOF MultiMix Balanced Growth Performance Review | News

What is the IOOF MultiMix Balanced Growth fund?

IOOF MultiMix Balanced Growth aims to provide capital growth over the medium to long term by investing in a diversified portfolio of growth assets with some defensive asset exposure, and to achieve a total return after fees in excess of the Trust’s benchmark over a rolling five-year period. The Trust generally gains its exposure to a diversified portfolio of investments through a mix of investment managers. The growth orientation of the Trust means it has a greater exposure to growth assets (such as Australian and international property and shares and alternative – growth), with a moderate exposure to defensive assets (such as cash, fixed interest and alternative – defensive).

The Trust is authorised to utilise approved derivative instruments for risk management purposes subject to the specific restriction that the derivative instruments cannot be used to gear portfolio exposure.
The underlying investment managers may utilise strategies for the management of currency exposure.
The level of currency hedging used for the Trust will vary from time to time.
The Trust has the capacity to change the level and nature of the currency overlay to manage the Trust’s currency risk

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Latest News & Updates For IOOF MultiMix Balanced Growth

IOOF MultiMix Balanced Growth Fund Commentary June 30, 2023

The trust gained exposure to international shares managers Brown Advisory, Intermede and Pzena over the quarter, following a comprehensive sector review.

The alternative growth portfolio outperformed, with private equity outperforming against benchmark.

An underweight allocation to diversified fixed interest contributed to performance as the asset class was a poor relative performer.

The Australian equities portfolio outperformed, with the micro cap, mid-small cap and fundamental quality managers outperforming.

The fixed interest portfolio outperformed its benchmark as managers Janus Henderson and PGIM outperformed.

The international shares portfolio underperformed its benchmark as managers Antipodes and EAM (both now terminated), and Alphinity undeperformed.

An underweight allocation to the international shares portfolio detracted value, as the asset class produced strong relative returns.

The alternative defensive portfolio underperformed its benchmark.

READ HISTORICAL PERFORMANCE COMMENTARIES

Product Snapshot

Product Overview
Performance Review
Peer Comparison
Product Details

Product Overview

Fund Name	APIR Code ? A Product Code is unique a identifier code issued by a group or governing body, to reference products in a large group. For an example, APIR codes are commonly used for Funds and Ticker codes are commonly used for Securities such as ETFs and Stocks.	Structure ?	Asset Class ? An Asset Class breakdown provides the percentages of core asset classes found within a mutual fund, exchange-traded fund, or another portfolio. Asset classes (in microeconomics and beyond) generally refer to broad categories such as equities, fixed income, and commodities.	Asset Category ? An Asset Category is a grouping of investments that exhibit similar characteristics and are subject to the same laws and regulations. Asset categories (or a sub-asset class) are made up of instruments which often behave similarly to one another in the marketplace, looking down to the Asset Category level is important if looking to build a diversified portfolio.	Peer Benchmark Name ? A Peer Index (benchmark) refers to a peer group of investment managers who have the same investment style or category. It is used to compare the performance of one manager to their peer group, which makes it simpler for investors to choose between the vast number of investment managers.	Broad Market Index ? A Market Index (benchmark) refers to a hypothetical portfolio of investments that represents a segment, asset or category of an investable market. Market Indices are used to benchmark managers performance, to assist their style reliability and ability to provide excess returns.	FUM ? Funds/Assets under management (AUM) is the total market value of the investments that a person or entity manages on behalf of clients. Assets under management definitions and formulas vary by company.	Management Fee ? A management fee is a charge levied by an investment manager for managing an investment fund. The management fee is intended to compensate the managers for their time and expertise for selecting finanical products and managing the portfolio.	Performance Fee ? A performance fee is a payment made to an investment manager for generating positive returns. This is as opposed to a management fee, which is charged without regard to returns. A performance fee can be calculated many ways. Most common is as a percentage of investment profits, often both realized and unrealized. It is largely a feature of the hedge fund industry, where performance fees have made many hedge fund managers among the wealthiest people in the world.	Spread ? A spread can have several meanings in finance. Basically, however, they all refer to the difference between two prices, rates or yields. In one of the most common definitions, the spread is the gap between the bid and the ask prices of a security or asset, like a stock, bond or commodity. This is known as a bid-ask spread.
IOOF MultiMix Balanced Growth	IOF0093AU	Managed Funds	Multi-Asset	61-80% Growth Assets - Multi-Manager	Multi-Asset - 61-80% Multi-Manager Index	Multi-Asset Growth Investor Index	1.84 BN	0.92%	0.00%	0.22%

Performance Review

Fund Name	Last Month ? Returns after fees in the most recent (last) month).	3 Months Return ? Returns after fees in the most recent 3 months.	1 Year Return ? Trailing 12 month returns.	3 Years Average Return ? Average Annual returns from the last 3 years.	Since Inc. Average Return ? Average (annualised) returns since inception	1 Year Std. Dev. (Annual) ? The standard deviation (or annual volatility) of the last 12 months.	3 Years Std. Dev. (Annual) ? The average standard deviation (or annual volatility) from the last 3 years.	Since Inc. Std. Dev. (Annual) ? The average standard deviation (or annual volatility) since the fund inception.	1 Year Max Drawdown ? The maximum drawdown in the last 12 months - a drawdown is a peak-to-trough decline during a specific period for an investment, trading account, or fund.	3 Year Max Drawdown ? The maximum drawdown in the last 36 months - a drawdown is a peak-to-trough decline during a specific period for an investment, trading account, or fund.	Since Inc. Max Drawdown ? The maximum drawdown since inception - a drawdown is a peak-to-trough decline during a specific period for an investment, trading account, or fund.
IOOF MultiMix Balanced Growth	0.93%	4.02%	14.46%	5.49%	6.73%	5.62%	6.52%	7%	-2.12%	-8.66%	-22.45%

Peer Comparison

Fund Name	Peer Index Name ? A group of individuals who share similar characteristics and interests are called peer groups. Peer group analysis is an essential part of assessing a price for a particular stock in investment research. The emphasis here is on making a comparison, meaning that the peer group constituents should be more or less identical to the company being examined, especially in terms of their main business and market capitalization areas.	12 Months Excess Return ? Excess returns are an important metric that helps an investor to gauge performance in comparison to other investment alternatives. In general, all investors hope for positive excess return because it provides an investor with more money than they could have achieved by investing elsewhere.	Excess Return Annualised Since Inception ? Excess returns are an important metric that helps an investor to gauge performance in comparison to other investment alternatives. In general, all investors hope for positive excess return because it provides an investor with more money than they could have achieved by investing elsewhere.	12 Months Alpha ? Alpha is used in finance as a measure of performance, indicating when a strategy, trader, or portfolio manager has managed to beat the market return over 12 months. Alpha, often considered the active return on an investment, gauges the performance of an investment against a market index or benchmark that is considered to represent the market’s movement as a whole.	Alpha Annualised Since Inception ? Alpha is used in finance as a measure of performance, indicating when a strategy, trader, or portfolio manager has managed to beat the market annualized since inception. Alpha, often considered the active return on an investment, gauges the performance of an investment against a market index or benchmark that is considered to represent the market’s movement as a whole.	12 Months Beta ? Rolling 12Month Beta is a measure of the volatility—or systematic risk—of a security or portfolio compared to the market as a whole. Beta is used in the capital asset pricing model (CAPM), which describes the relationship between systematic risk and expected return for assets (usually stocks).	Beta Annualised Since Inception ? Beta is a measure of the volatility—or systematic risk—of a security or portfolio compared to the market as a whole. Beta is used in the capital asset pricing model (CAPM), which describes the relationship between systematic risk and expected return for assets (usually stocks).	12 Months Tracking Error ? 12Month Tracking error is the difference in actual performance between a position (usually an entire portfolio) and its corresponding benchmark over the last 12 months. The tracking error can be viewed as an indicator of how actively a fund is managed and its corresponding risk level. Evaluating a past tracking error of a portfolio manager may provide insight into the level of benchmark risk control the manager may demonstrate in the future.	Tracking Error Since Inception ? Since Inception tracking error is the difference in actual performance between a position (usually an entire portfolio) and its corresponding benchmark since inception. The tracking error can be viewed as an indicator of how actively a fund is managed and its corresponding risk level. Evaluating a past tracking error of a portfolio manager may provide insight into the level of benchmark risk control the manager may demonstrate in the future.	12 Months Correlation ? Correlation, in the finance and investment industries, is a statistic that measures the degree to which two securities move in relation to each other. Correlations are used in advanced portfolio management, computed as the correlation coefficient, which has a value that must fall between -1.0 and +1.0.	Correlation Since Inception ? Correlation, in the finance and investment industries, is a statistic that measures the degree to which two securities move in relation to each other. Correlations are used in advanced portfolio management, computed as the correlation coefficient, which has a value that must fall between -1.0 and +1.0.
IOOF MultiMix Balanced Growth	Multi-Asset - 61-80% Multi-Manager Index	-2.02%	0.37%	NA%	NA%	NA%	0.87	1.19%	2.22%	0.99	0.98

Product Details

Fund Name	Verifed by SMSF Mates	Manager Address	Phone	Website	Email
IOOF MultiMix Balanced Growth	Yes		-	https://www.ioof.com.au/	-

Product Due Diligence

What is IOOF MultiMix Balanced Growth

IOOF MultiMix Balanced Growth is an Managed Funds investment product that is benchmarked against Multi-Asset Growth Investor Index and sits inside the Multi-Asset - 61-80% Multi-Manager Index. Think of a benchmark as a standard where investment performance can be measured. Typically, market indices like the ASX200 and market-segment stock indexes are used for this purpose. The IOOF MultiMix Balanced Growth has Assets Under Management of 1.84 BN with a management fee of 0.92%, a performance fee of 0.00% and a buy/sell spread fee of 0.22%.

How has the investment product performed recently?

The recent investment performance of the investment product shows that the IOOF MultiMix Balanced Growth has returned 0.93% in the last month. The previous three years have returned 5.49% annualised and 7% each year since inception, which is when the IOOF MultiMix Balanced Growth first started.

How is risk measured in this investment product?

There are many ways that the risk of an investment product can be measured, and each measurement provides a different insight into the risk present. They can be used on their own or together to perform a risk assessment before investing, but when comparing investments, it is common to compare like for like risk measurements to determine which investment holds the most risk. Since IOOF MultiMix Balanced Growth first started, the Sharpe ratio is NA with an annualised volatility of 7%. The maximum drawdown of the investment product in the last 12 months is -2.12% and -22.45% since inception. The maximum drawdown is defined as the high-to-low decline of an investment during a particular time period.

What is the relative performance of the investment product?

Relative performance is what an asset achieves over a period of time compared to similar investments or its peers. Relative return is a measure of the asset's performance compared to the return to the other investment. The IOOF MultiMix Balanced Growth has a 12-month excess return when compared to the Multi-Asset - 61-80% Multi-Manager Index of -2.02% and 0.37% since inception.

Does the investment product produce Alpha over its Peers?

Alpha is an investing term used to measure an investment's outperformance relative to a market benchmark or peer investment. Alpha describes the excess return generated when compared to peer investment. IOOF MultiMix Balanced Growth has produced Alpha over the Multi-Asset - 61-80% Multi-Manager Index of NA% in the last 12 months and NA% since inception.

What are similar investment products?

For a full list of investment products in the Multi-Asset - 61-80% Multi-Manager Index category, you can click here for the Peer Investment Report.

What level of diversification will IOOF MultiMix Balanced Growth provide?

IOOF MultiMix Balanced Growth has a correlation coefficient of 0.98 and a beta of 0.87 when compared to the Multi-Asset - 61-80% Multi-Manager Index. Correlation measures how similarly two investments move in relation to one another. This establishes a 'correlation coefficient', which has a value between -1.0 and +1.0. A 100% correlation between two investments means that the correlation coefficient is +1. Beta in investments measures how much the price moves relative to the broader market over a period of time. If the investment moves more than the broader market, it has a beta above 1.0. If it moves less than the broader market, then the beta is less than 1.0. Investments with a high beta tend to carry more risk but have the potential to deliver higher returns.

How do I compare the investment product with its peers?

For a full quantitative report on IOOF MultiMix Balanced Growth and its peer investments, you can click here for the Peer Investment Report.

How do I compare the IOOF MultiMix Balanced Growth with the Multi-Asset Growth Investor Index?

For a full quantitative report on IOOF MultiMix Balanced Growth compared to the Multi-Asset Growth Investor Index, you can click here.

Can I sort and compare the IOOF MultiMix Balanced Growth to do my own analysis?

To sort and compare the IOOF MultiMix Balanced Growth financial metrics, please refer to the table above.

Has the IOOF MultiMix Balanced Growth been independently verified by SMSF Mate?

This investment product is in the process of being independently verified by SMSF Mate. Once we have verified the investment product, you will be able to find more information here.

How can I invest in IOOF MultiMix Balanced Growth?

If you or your self managed super fund would like to invest in the IOOF MultiMix Balanced Growth please contact via phone or via email .

How do I get in contact with the IOOF MultiMix Balanced Growth?

If you would like to get in contact with the IOOF MultiMix Balanced Growth manager, please call .

Comments from SMSF Mates

SMSF Mate does not receive commissions or kickbacks from the IOOF MultiMix Balanced Growth. All data and commentary for this fund is provided free of charge for our readers general information.

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Historical Performance Commentary

Performance Commentary - March 31, 2023

The trust gained exposure to the OptiMix Global Emerging Markets Trust and the OnePath Global Smaller Companies Trust over the quarter. These portfolios will allow the trust to adjust exposures to these sectors more precisely.

The international shares portfolio outperformed its benchmark. Antipodes and Wellington outperformed.

Underweights to the international and Australian listed property portfolios added value as the asset classes were poor relative performers.

The alternative growth portfolio underperformed, with private equity underperforming against benchmark.

The Australian equities portfolio struggled to keep up with the broader market. Micro cap managers underperformed.

An overweight to the income trust detracted as the asset class produced weak relative returns.

An overweight to the alternative growth portfolio detracted as the asset class produced weak relative returns.

Performance Commentary - December 31, 2022

HarbourVest is a new US Secured Private Debt manager that was appointed to the Alternative Defensive portfolio. Within diversified fixed interest, Wellington and Antares were appointed and Ardea Global Alpha Plus strategy was removed. The international shares portfolio outperformed its benchmark. The fixed interest portfolio outperformed its benchmark due to active duration managers and overweight to credit.

The Australian equities portfolio struggled to keep up with the broader market. An underweight to Australian and international equities detracted as both asset classes produced strong returns. An underweight to Australian listed property detracted as Australian listed property was one of the best performing asset classes over the quarter.

Performance Commentary - September 30, 2022

Quarter highlights as at 30/09/2022 Morrison & Co is a new global unlisted infrastructure manager that was appointed to the Alternative Defensive portfolio. The Australian equities portfolio outperformed its benchmark due to strong manager performance from a few managers. An underweight to international listed property added value as it was one of the worst performing asset classes. An underweight to diversified fixed interest and overweight to Income trust added value as yields continued to rise. The Alternative Growth portfolio underperformed its benchmark.

Performance Commentary - June 30, 2022

There were no manager changes over the quarter. The alternatives defensive and growth portfolios outperformed their respective benchmarks, with infrastructure, private debt and private equity the biggest contributors. The international equities portfolio outperformed its benchmark, due to value managers performing strongly, and emerging markets outperforming developed markets. An overweight to direct property added value as the portfolio produced a solid return for the quarter, due to some positive revaluations. An underweight to fixed interest detracted value.

Performance Commentary - March 31, 2022

Heitman Global Real Estate Partners II Fund was appointed in the quarter to provide access to a diversified global private real estate portfolio targeting core plus returns.

The alternatives defensive and growth portfolios outperformed their respective benchmarks, with infrastructure, private debt and private equity the biggest contributors.

An underweight to fixed interest and an overweight to Income Trust added value, as fixed interest performed poorly for the quarter.

The international equities portfolio underperformed its benchmark due to its overweight to emerging markets.

The Australian equities portfolio underperformed its benchmark due to an overweight to small caps.

Performance Commentary - March 31, 2021

The Trust generally gains its exposure to a diversified portfolio of investments through a mix of investment managers. The growth orientation of the Trust means it has a greater exposure to growth assets (such as Australian and international property and shares and alternative – growth), with a moderate exposure to defensive assets (such as cash, fixed interest and alternative – defensive).

The Trust is authorised to utilise approved derivative instruments for risk management purposes subject to the specific restriction that the derivative instruments cannot be used to gear portfolio exposure.

Performance Commentary - December 31, 2020

Two new strategies were appointed to the Alternatives Growth portfolio being a private equity co investment fund and a private debt dislocation fund. Diversified fixed interest portfolio outperformed, with all underlying managers except Ardea outperforming their benchmarks. An overweight to credit and short duration versus benchmark added value. Alternatives growth portfolio underperformed its equities benchmark. A lower hedge ratio versus benchmark detracted value as the Australian dollar appreciated.

IOOF MultiMix Balanced Growth (IOF0093AU) Report & Performance