Coolabah Short Term Income PIE Fund
Managed by Coolabah Coolabah Short Term Income PIE Fund is a international fi managed fund operated by Coolabah; PIE-structured; FMA risk indicator 2/7. Headline terms: annual fund charge 0.88% · minimum investment NZ$1,000 · distributions quarterly. Compared with 30 other same-category funds on this site, the 0.88% annual fund charge sits above the same-category median of 0.71%.
PIE tax treatment — capped at your PIR (max 28%)
This fund is a Portfolio Investment Entity (PIE) under Subpart HM of the Income Tax Act 2007. Income is taxed at your Prescribed Investor Rate (10.5% / 17.5% / 28%), not your marginal income-tax rate. The fund manager calculates and pays the tax on your behalf — when your PIR is correct, you usually don't need to declare PIE income in your annual tax return. See our PIR guide and PIE tax basics for the full picture, or use the PIR calculator to confirm your rate.
Annual fund charge
0.67%
vs peer avg 0.65%
Risk indicator
2/7
1 = lower risk · 7 = higher risk
5-year return p.a.
Less than 5 years of data
peer avg 1.17%
Fund size
NZ$139.2m
0% growth · 100% income
The Fund targets investment returns, after fees and before tax, of 1.5% to 3.0% per annum above the overnight interbank cash rate as published by the Reserve Bank of New Zealand ("RBNZ"), over a rolling 12-month period.
How Coolabah Short Term Income PIE Fund differs
Factual contrasts drawn from the PDS, SIPO and latest portfolio holdings — no opinion.
- Benchmark
- Bloomberg AusBond Bank Bill Index hedged to New Zealand dollars
- Top 3 holdings
- PIE Cash (6.1%) · NRMBS 2026-1 A1 5.0815 (2.9%) · MEDL 2025-1 A 4.82 (2.0%)
Key facts
Fund start date
9 December 2021
Min. investment
NZ$1,000
Subsequent: NZ$1,000
Distributions
Quarterly
Buy / sell spread
0 bps (0.00%) / 2.5 bps (0.03%)
Transaction cost on subscription / redemption
Tax structure
PIE
Capped at your PIR (max 28%)
Performance fee
From the Product Disclosure Statement.
Performance fee paid (last published): 0.19%
22.5% of the Fund's gross performance, that is above the Hurdle Rate of Return. Hurdle Rate: The return of the Bloomberg AusBond Bank Bill Index hedged to New Zealand dollars, plus 1.89% per annum. Subject to High Water Mark.
Investment policy
From the Statement of Investment Policy and Objectives (SIPO).
Strategic asset allocation ranges
| Asset class | Target | Min | Max |
|---|---|---|---|
| Coolabah Short Term Income Fund (International fixed interest) | 90% | 90% | 110% |
| Cash and cash equivalents (includes funding account) | 10% | -10% | 10% |
Derivatives policy
Derivative instruments including currency hedging instruments are permitted investments across all Funds. Underlying funds may use exchange traded and over-the-counter derivatives for hedging and, in some funds, borrowing purposes.
Reading between the lines
Plain-English summary of the scheme's disclosed conflicts and performance-fee mechanics, drawn from the OMI and PDS. Factual restatement — no opinion.
- FundRock NZ acknowledges that because it shares an ultimate parent (Apex Group Limited) with administrator Apex NZ, it may agree commercial terms with Apex NZ that are more favourable to Apex NZ than to investors.
- FundRock NZ discloses that Coolabah's role as investment manager across multiple funds could lead it to invest fund assets into other Coolabah funds rather than direct assets or third-party funds, potentially to investors' detriment if not on arms'-length terms.
- Coolabah charges performance fees on three funds ranging from 20.5% to 22.5% of gross returns above a hurdle rate (benchmark plus a fixed margin), with a high-water mark applying so fees are only charged on new gains above prior peaks.
- Apex NZ, a related party sharing the same ultimate parent as FundRock NZ, is paid to provide administration, registry, fund accounting, and unit pricing services to two of the Coolabah funds.
Generated 2026-05-28 from Coolabah Investment Funds OMI (dated 2026-04-08). The verbatim disclosures appear in full below — this summary is a navigation aid, not a substitute.
Scheme disclosures
From the Other Material Information (OMI) document. Scheme-level — applies to every fund in this scheme.
Trustee / Supervisor
Public Trust
Auditor
KPMG
Custodian
Adminis NZ Limited (for Coolabah Short Term Income PIE Fund and Coolabah Long-Short Credit PIE Fund); BNP Paribas Fund Services Australasia Pty Limited (for Coolabah Global Floating-Rate High Yield PIE Fund and Coolabah Active Composite Bond PIE Fund)
Conflicts disclosed
3
In OMI
Conflicts of interest disclosed in OMI
- FundRock and Apex NZ share the same ultimate parent (Apex Group Limited), which may influence FundRock to agree commercial terms with Apex NZ more favourable to Apex NZ than would otherwise be the case, potentially at the expense of investors.
- Parties related to the Funds, including staff of Coolabah and FundRock and their families, may from time to time invest in the Funds.
- Coolabah's association with other Coolabah funds could influence it to invest Fund assets into other Coolabah funds instead of direct assets or third-party funds, potentially to the detriment of investors if not on arms' length terms or if third-party funds were more efficient.
How this fund compares to peers
Mechanical comparison vs the 31 other international fi funds in our cohort. Source: FMA Disclose register via Sorted Smart Investor. Past performance is not a reliable indicator of future returns.
Annual fund charge
0.67%
Category median: 0.70%
Cheaper than 53% of peers
Fund size
NZ$139.2m
Category median: NZ$141.0m
47th percentile by AUM
Illustrative 5y fee impact on a sample balance of $10,000
$331
Compounded charge over 5 years (excl. returns)
$15 less than peer median
Read the full fee-vs-peers breakdown →
Mechanical scores only — no opinion or recommendation. Different funds suit different investor goals. ManagedFundsNZ is not a Financial Advice Provider. Read the current PDS and consider speaking to a licensed financial adviser.
Top 10 holdings
As at the latest published quarterly fund update (via Sorted Smart Investor).
| Holding | % of fund |
|---|---|
| PC PIE Cash | 6.09% |
| N2 NRMBS 2026-1 A1 5.0815 | 2.87% |
| M2 MEDL 2025-1 A 4.82 | 2.05% |
| C0 CBAAU 0 01/09/30 MTn | 2.00% |
| C0 CBAAU 0 11/21/28 MTN | 1.99% |
| I2 IDOLT 2025-1 A 4.9064 | 1.83% |
| W0 WSTP 0 02/16/28 MTn | 1.72% |
| W0 WSTP 0 09/19/28 MTN | 1.69% |
| W0 WSTP 0 09/19/29 MTN | 1.67% |
| C0 CBAAU 0 08/17/28 MTN | 1.59% |
Documents
Every dated PDS, quarterly fund update and full-portfolio holdings file. Linked from the FMA Disclose register via Sorted Smart Investor.
- COOLABAH SHORT TERM INCOME PIE FUND (FND36215) Full portfolio holdings 31 March 2026.xlsx Download the full portfolio holdings. XLSX, 0.59 KB
- Coolabah Investment Funds PDS 9 April 2026.pdf How this investment works, including about the provider, risks, costs and potential returns PDF, 453.34 KB
- 20260331 Coolabah Short Term Income PIE QFU.pdf The quarterly update published by the provider PDF, 469.42 KB
- Coolabah Investment Funds OMI 9 April 2026.pdf Other Material Information document PDF, 374.82 KB
- Coolabah Investment Funds SIPO 9 April 2026.pdf Statement of investment policy and objectives PDF, 423.91 KB
About this category
Funds investing in fixed-income securities issued outside New Zealand, typically with currency hedging back to NZD.
About Coolabah
Australian active-credit specialist with composite bond, floating-rate and long-short credit PIE funds for NZ investors.
See all funds from Coolabah →Common questions
Questions people ask about Coolabah Short Term Income PIE Fund
Drawn from Google's "People also ask" panel and answered with reference to the fund's filed PDS, Fund Update and FMA Disclose data. Not personal financial advice — for guidance specific to your situation, consult an authorised financial adviser.
What is the Coolabah short term income strategy?
Coolabah Short Term Income PIE Fund invests approximately 99.93% in income assets and 0.07% in growth assets, with holdings typically including cash, residential mortgage-backed securities, and other fixed-income instruments. The fund is designed to generate regular income from these shorter-duration fixed-income securities rather than capital growth.
How does Coolabah Capital generate returns?
The fund generates returns primarily through interest income and coupon payments from its holdings in cash equivalents and fixed-income securities. As at the latest QFU, top holdings include PIE Cash (6.09%), NRMBS 2026-1 A1 5.0815 (2.87%), and MEDL 2025-1 A 4.82 (2.05%), which provide regular income streams to investors.
Is pie fund better than term deposit?
PIE funds and term deposits have different structures and tax treatment. PIE funds cap investor tax at your prescribed investor rate (maximum 28%), while term deposit interest is taxed at your marginal tax rate. For direct comparisons including returns, fees, and suitability to your situation, check the current PDS on the manager website or consult a financial adviser.
What is the average return of ultra short term fund?
Historical returns for this fund are not included in the standard fund facts; check the current PDS and FMA Disclose register at https://disclose-register.companiesoffice.govt.nz/ for performance data. Note that past performance is not a guarantee of future returns.
Head-to-head
Compare Coolabah Short Term Income PIE Fund with…
Side-by-side numbers — fees, returns, risk, fund size, asset mix.
Peer funds
Other International FI funds
Same manager
Other funds by Coolabah
- Coolabah Long-Short Credit PIE FundInternational FI
- Coolabah Active Composite Bond PIE FundInternational FI
- Coolabah Global Floating-Rate High Yield PIE FundInternational FI
FMA risk band
Same risk band (2/7)
See every NZ retail managed fund with the same standardised FMA risk indicator. Useful for peer-checking volatility-comparable funds outside this category.
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Frequently asked questions
Mechanical Q&A grounded in the fund's PDS, SIPO, and latest QFU on the FMA Disclose register. Verify against the source before relying on any of this.
Who manages the Coolabah Short Term Income PIE Fund?
Coolabah Short Term Income PIE Fund is managed by Coolabah. Australian active-credit specialist with composite bond, floating-rate and long-short credit PIE funds for NZ investors.
What asset class is the Coolabah Short Term Income PIE Fund?
It is a international fi managed fund. The fund has a conservative risk profile. Funds investing in fixed-income securities issued outside New Zealand, typically with currency hedging back to NZD.
What are the fees for the Coolabah Short Term Income PIE Fund?
The annual fund charge for the Coolabah Short Term Income PIE Fund is 0.67% p.a., as reported in the latest Quarterly Fund Update sourced from the FMA Disclose register. Always check the current PDS for any additional fees.
What is the risk indicator for the Coolabah Short Term Income PIE Fund?
The risk indicator is 2/7 on the standardised FMA-mandated scale, where 1 is lower risk and 7 is higher risk. The risk indicator is calculated from the fund's price volatility over the past five years and is published in every Quarterly Fund Update.
Is the Coolabah Short Term Income PIE Fund a PIE fund?
Yes. The Coolabah Short Term Income PIE Fund is structured as a New Zealand Portfolio Investment Entity (PIE). Investor tax on the fund's income is capped at the investor's Prescribed Investor Rate (PIR), which has a maximum of 28%. Most NZ-resident retail investors with a taxable income at or below NZ$48,000 qualify for a lower PIR.
How big is the Coolabah Short Term Income PIE Fund?
Fund size (assets under management) is NZ$139 million as at the latest Quarterly Fund Update. Asset mix is approximately 0% growth assets and 100% income assets.
What does the Coolabah Short Term Income PIE Fund invest in?
The latest published top holdings are: PIE Cash (6.09%), NRMBS 2026-1 A1 5.0815 (2.87%), MEDL 2025-1 A 4.82 (2.05%). Holdings are disclosed in each Quarterly Fund Update; the full portfolio holdings file is also available via the FMA Disclose register.
How can I invest in the Coolabah Short Term Income PIE Fund?
The Coolabah Short Term Income PIE Fund is available via Coolabah directly. Always read the current Product Disclosure Statement before investing.
What is the Coolabah short term income strategy?
Coolabah Short Term Income PIE Fund invests approximately 99.93% in income assets and 0.07% in growth assets, with holdings typically including cash, residential mortgage-backed securities, and other fixed-income instruments. The fund is designed to generate regular income from these shorter-duration fixed-income securities rather than capital growth.
How does Coolabah Capital generate returns?
The fund generates returns primarily through interest income and coupon payments from its holdings in cash equivalents and fixed-income securities. As at the latest QFU, top holdings include PIE Cash (6.09%), NRMBS 2026-1 A1 5.0815 (2.87%), and MEDL 2025-1 A 4.82 (2.05%), which provide regular income streams to investors.
Is pie fund better than term deposit?
PIE funds and term deposits have different structures and tax treatment. PIE funds cap investor tax at your prescribed investor rate (maximum 28%), while term deposit interest is taxed at your marginal tax rate. For direct comparisons including returns, fees, and suitability to your situation, check the current PDS on the manager website or consult a financial adviser.
What is the average return of ultra short term fund?
Historical returns for this fund are not included in the standard fund facts; check the current PDS and FMA Disclose register at https://disclose-register.companiesoffice.govt.nz/ for performance data. Note that past performance is not a guarantee of future returns.