DRAFT
Fund Review
Seed Funds Management Financial Income Fund - Incl Franking
Performance as at Aug 2026
Seed Funds Management, established by Nicholas Chaplin in 2015, is a specialist fund manager concentrating on Australian financial issuance. Its Hybrid Income Fund focuses on Hybrid, Senior, and Subordinated financial debt, achieving notable returns above the hybrid equity index. Nicholas Chaplin, the Senior Portfolio Manager, collaborates with John Corr on the investment committee. Key personnel include Christopher Donohoe, Chief Executive Officer, Tony Kench, Chair of Risk and Investment Committee, and Ned Silva, Portfolio Analyst.
| 1 Year | 3 Years3 | 5 Years3 | 7 Years3 | Inception3,4 | ||
| Total Return | Fund | 5.47% | 6.89% | 6.03% | 5.24% | 6.35% |
| Peer Group1 | 3.61% | 5.13% | 2.95% | 2.79% | 3.41% | |
| Index2 | 4.68% | 5.62% | 4.50% | 4.03% | 4.83% | |
| Volatility | Fund | 1.25% | 1.27% | 1.41% | 6.38% | 5.75% |
| Peer Group1 | 1.34% | 1.70% | 2.41% | 2.44% | 2.09% | |
| Index2 | 1.48% | 1.68% | 2.41% | 3.76% | 3.31% | |
| 1Australian Bonds / Diversified Fixed Interest, 2Solactive Australian Hybrid Securities Index (Net), 3Annualised, 4Sep 2015 | ||||||
Strategy Description
The Financial Income Fund invests in a portfolio of debt and hybrid securities, including subordinated notes, capital notes, convertible preference shares and preference shares, mainly issued by banks, insurance companies, and other firms. Hybrids can be traded on the ASX or OTC. The strategy began in 2015, with management transferring to Seed Funds Management in March 2024. The Fund, available as an Active ETF with ASX Code SFIF, offers performance net of fees and returns inclusive of Franking Credits. The securities may be called early or converted into equity under specific conditions.Cumulative Performance
Core Details |
PG = Peergroup Average | ||
| APIR: | EVO3184AU | Status: | Open |
| Peer Group: | Australian Bonds / Diversified Fixed Interest | Inception Date: | Sep 2015 |
| Strategy: | Fixed Income | Style: | N/A |
| Geography: | Australia | Domicile: | Australia |
| Investors: | Retail | Distributions: | Monthly |
| Fund Size: | AU$ 530m | Manager FUM: | AU$ 1,562m |
| Applications: | Daily, Initial: AU$ 10,000 | Redemptions: | Daily |
| Management Fee: | 0.55% (PG avg: 0.50%) | Performance Fee: | 0.00% (PG avg: 4.31%) |
| Buy/Sell Spread: | 0%/0.1% (PG avg: 0.05%/0.07%) | Hurdle: | N/A |
| Early Redemption Fee | No | High Water Mark: | N/A |
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Seed Funds Management Financial Income Fund - Incl Franking
Performance vs Australian Bonds / Diversified Fixed Interest and Solactive Australian Hybrid Securities Index (Net)
Since Oct 2015, the Fund has returned 6.35% p.a. vs the Peer Group's return of 3.41% over the same period. Over the past 12 months, the Fund has returned 5.47% vs the Peer Group's 3.61%. For the 3, 5 and 7 year periods, the Fund has returned 6.89%, 6.03% and 5.24% respectively vs the Peer Group's returns of 5.13%, 2.95% and 2.79% respectively. Since Oct 2015, the Fund's returns have been delivered with a volatility of 5.75% p.a. vs the Peer Group's 2.09%.
Only seven years of data shown. Click here to view all data.
| Year | Jan % | Feb % | Mar % | Apr % | May % | Jun % | Jul % | Aug % | Sep % | Oct % | Nov % | Dec % | YTD % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.71 | 0.36 | -0.35 | 0.65 | 0.56 | 0.77 | 0.48 | 0.21 | NA | NA | NA | NA | 3.44 |
| 2025 | 0.46 | 0.69 | 0.02 | -0.47 | 0.90 | 0.49 | 1.19 | 0.74 | 0.63 | 0.80 | -0.19 | 0.71 | 6.14 |
| 2024 | 0.45 | 0.75 | 0.72 | 0.84 | 0.40 | 0.61 | 0.98 | 0.28 | 0.76 | 0.97 | 0.41 | 0.76 | 8.23 |
| 2023 | 0.59 | 0.59 | 0.08 | 0.41 | 0.17 | 0.63 | 1.09 | 0.62 | 0.58 | 0.23 | 0.89 | 1.03 | 7.12 |
| 2022 | -0.52 | 0.18 | -0.26 | -0.06 | -0.06 | 0.07 | 0.24 | 0.76 | 0.67 | -0.14 | 0.79 | 1.07 | 2.77 |
| 2021 | 1.16 | 0.58 | 0.08 | 0.99 | -0.30 | 1.18 | 0.04 | 0.11 | 0.58 | 0.73 | -0.07 | 1.18 | 6.45 |
| 2020 | 0.69 | -2.93 | -12.46 | 9.44 | 2.22 | 2.29 | 0.36 | 1.63 | 0.63 | -0.02 | -0.01 | 1.78 | 2.27 |
| 2019 | 0.96 | -0.87 | 1.38 | 0.81 | 1.72 | 5.00 | 0.43 | 0.29 | 1.30 | -0.85 | -0.33 | 0.30 | 10.51 |
| 2018 | 0.38 | -0.32 | -1.22 | 0.91 | 0.01 | 0.98 | 1.40 | 0.77 | -0.40 | -1.20 | -0.14 | 0.79 | 1.96 |
| 2017 | 1.03 | -1.50 | 1.85 | 1.27 | 1.11 | 0.18 | -0.15 | -0.12 | 1.69 | 0.70 | 0.11 | 0.64 | 6.99 |
| 2016 | -0.23 | 0.71 | 2.85 | 0.27 | 1.39 | 0.18 | 2.45 | 1.10 | 1.23 | 1.83 | 0.99 | 1.88 | 15.60 |
| 2015 | NA | NA | NA | NA | NA | NA | NA | NA | NA | 2.61 | -1.36 | -2.55 | -1.37 |
| 1 Year | 3 Years | 5 Years | 7 Years | Inception | ||
| Total Return | Fund | 5.47% | 6.89% | 6.03% | 5.24% | 6.35% |
| Peer Group | 3.61% | 5.13% | 2.95% | 2.79% | 3.41% | |
| Index2 | 4.68% | 5.62% | 4.50% | 4.03% | 4.83% | |
| Volatility | Fund | 1.25% | 1.27% | 1.41% | 6.38% | 5.75% |
| Peer Group | 1.34% | 1.70% | 2.41% | 2.44% | 2.09% | |
| Index | 1.48% | 1.68% | 2.41% | 3.76% | 3.31% | |
| Sharpe | Fund | 1.15 | 2.09 | 2.03 | 0.47 | 0.74 |
| Peer Group | -0.26 | 0.58 | -0.11 | 0.18 | 0.65 | |
| Index | 0.47 | 0.86 | 0.53 | 0.45 | 0.82 | |
| Sortino | Fund | 1.68 | 3.72 | 4.20 | 0.56 | 0.99 |
| Peer Group | -0.31 | 0.88 | -0.17 | 0.22 | 0.91 | |
| Index | 0.86 | 1.42 | 0.79 | 0.57 | 1.13 | |
| Largest Drawdown | Fund | -0.35% | -0.47% | -0.71% | -15.18% | -15.18% |
| Peer Group | -0.67% | -0.67% | -5.37% | -5.85% | -5.85% | |
| Index | -0.25% | -0.73% | -2.66% | -7.87% | -7.87% |
Return in Index's 10 Best & 10 Worst Months %
Return in Index's 10 Best & 10 Worst Months %
Annualised Return vs Standard Deviation
Seed Funds Management Financial Income Fund - Incl Franking - Annualised Return vs. Standard Deviation
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Seed Funds Management Financial Income Fund - Incl Franking
Annual Returns
Annual Returns %
Drawdown
Drawdown%
Service Providers
| Trustee/RE: | Evolution Trustees Limited |
| Custodian: | Apex Fund Services Pty Ltd |
| Administrator: | Apex Fund Services Pty Ltd |
| Auditor: | Deloitte Touche Tohmatsu |
| Legal: | Mont Lawyers |
| Prime Broker: | N/A |
Available on Investment Platforms
HUB24, Netwealth, Praemium
Key Staff
Nicholas Chaplin
Director and Senior Portfolio Manager
Years in industry: 38, Years at Firm: 3
Christopher Donohoe
Chief Executive Officer
Years in industry: 34, Years at Firm: 12
Graham Hook
Head of Compliance
Years in industry: 40, Years at Firm: 1
Tony Kench
Chair of Risk and Investment Committee
Years in industry: 40, Years at Firm: 3
Ned Silva
Portfolio Analyst
Years in industry: 7, Years at Firm: 2
Joshua McMenamin
Portfolio Analyst
Years at Firm: 2
About AFM's Fund Reviews and Star Ratings
AFM's proprietary Star Rating system provides a quantitative ranking of performance and risk of funds in its peer group relative to similar funds. Funds must have a minimum 1 year track record.
Star Ratings for Performance reflects annualised return. Risk is a combination of downside deviation, maximum drawdown and longest drawdown, which are allocated in reverse.
| AFM Star Rating | Relative performance band compared to funds in the same Peer Group |
|---|---|
| ★ ★ ★ ★ ★ | Premium: The fund is in the top 10% of all funds in its peer group. |
| ★ ★ ★ ★ ☆ | Top Quartile: The fund ranges between 75 and 90% of all funds in its peer group. |
| ★ ★ ★ ☆ ☆ | Second Quartile: The fund ranges between 50 and 75% of all funds in its peer group. |
| ★ ★ ☆ ☆ ☆ | Third Quartile: The fund ranges between 25 and 50% of all funds in its peer group. |
| ★ ☆ ☆ ☆ ☆ | Fourth Quartile: The fund is in the lowest 25% of all funds in its peer group. |
All performances, rankings and Star Ratings are updated monthly. Past performance does not guarantee future performance.
Copyright
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Disclaimer
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