Key highlights

  • ASX:IMLC is an actively managed ETF focused on Australian shares.
  • The fund aims to outperform the S&P/ASX 300 Accumulation Index, after fees and before taxes, on a rolling four-year basis.
  • The management fee is 0.98%.

The IML Concentrated Australian Share Fund Active ETF (ASX:IMLC) gives investors exposure to a concentrated portfolio of Australian shares run by an active manager. The fund aims to outperform the S&P/ASX 300 Accumulation Index, after fees and expenses and before taxes, on a rolling four-year basis.

About the Fund

IMLC was admitted to the ASX on 1 August 2023 and is classified in the Equity Australia Large Blend category, with the S&P/ASX 300 Total Return Index as its benchmark. Funds in the category invest primarily in large Australian companies, and the blend style indicates that neither growth nor value characteristics dominate the portfolio. The management fee is 0.98%, and the head office is in Sydney.

The fund is small, with about $1.09 million in assets.

Mandate and exposure

The fund’s exposure is to Australian shares, managed with a concentrated approach rather than by tracking an index. It publishes monthly updates, with the most recent dated 30 September 2026, and monthly redemption and units-on-issue announcements.

Understanding the exposure

The fund does not track an index. Its exposure comes from the manager’s selection of a concentrated group of Australian shares, with performance measured against the S&P/ASX 300 Accumulation Index on a rolling four-year basis. A concentrated portfolio holds fewer stocks than a broad index fund, so each holding can represent a larger share of the portfolio, and the fund itself is small, at about $1.09 million in assets.

Fees, size and distributions

The fund pays distributions half-yearly. The most recent was a final distribution of $0.265 per unit, with an ex-date of 1 July 2026 and payment on 21 July 2026.

Fund structure and reporting

IMLC has an ISIN of AU0000286684 and a head office at Level 24, 25 Bligh Street, Sydney. Recent ASX announcements from the fund include an update dated 30 September 2026, monthly redemptions and units-on-issue notices and the 2026 annual financial report lodged on 11 September 2026.

Equity Australia Large Blend funds invest primarily in large Australian companies, defined as stocks in the top 70% of the capitalisation of the Australian equities market, and the blend style applies where neither growth nor value characteristics dominate.

Units in IMLC are quoted on the ASX and can be bought and sold through a broker during trading hours, in the same way as shares, so the exposure described above is available without buying each holding separately. The fund is actively managed, so its holdings and weightings are chosen by the manager rather than set by an index, and they can change over time.