Key Highlights

  • ICME was admitted to the ASX on 21 November 2025 and is benchmarked against the RBA Official Cash Rate.
  • The fund is designed to provide monthly income from higher-yielding Australian fixed income securities under an active management approach.
  • Detailed holdings and management fee data had not yet been disclosed at the time of this review, reflecting the fund's recent listing.
  • Reported asset allocation showed 96.38% in bonds, 5.96% in "Other" instruments and 0.64% in cash.

Fund Overview and Objective

ICME is one of the more recently listed funds covered in this review, admitted to the ASX on 21 November 2025 under the Diversified Credit category. The fund is benchmarked against the RBA Official Cash Rate and aims to provide investors with monthly income generally sourced from higher-yielding Australian fixed income securities, following an actively managed rather than passive approach.

Portfolio Composition

At the time of review, ICME's asset allocation showed 96.38% in bonds, 5.96% in "Other" instruments and a small 0.64% cash position, with no Equity exposure reported. Specific top-10 holdings data, total fund holdings count and Turnover ratio were not available at the time of this review, a common characteristic of newly listed funds where portfolio disclosure builds over subsequent reporting periods.

Geographic Exposure

ICME's reported geographic exposure showed Australia as the largest weighting at 65.22%, followed by France at 14.63%, the United States at 7.93%, the United Kingdom at 5.89% and smaller allocations to Spain (4.29%) and the Netherlands (2.03%).

Distribution Profile

Distribution figures for ICME showed an increase from $0.466 in June 2026 to $0.471 in July, $0.478 in August and $0.636 in September, indicating a rising trend across the months for which data was available. Fund fundamentals including management fee, ISIN, units outstanding and fund size were listed as unavailable at the time of this review.

Conclusion

As a fund still in the early stages of its listing history, ICME's disclosed data points to an actively managed, monthly income-focused strategy concentrated primarily in Australian fixed income securities but with meaningful exposure to France, the United States and the United Kingdom. Several fundamental data points, including fund size and management fee, remained undisclosed at the time of this review, which is typical for funds shortly after listing, and observers following the fund closely may wish to monitor future disclosures as more complete data becomes available.