Key Highlights

  • The active fund holds 37 companies, with the top ten at 50.24%.
  • BHP Group is the largest holding at 12.86%.
  • The management fee is 0.78% and reported turnover is 89.21%.
  • The July 2026 distribution of $0.180 is higher than the $0.073 paid in July 2025.

Airlie Australian Share Fund - Active ETF (ASX:AASF) offers investors a specialised and focused Australian equities strategy, built on a bottom-up approach. The fund was admitted to the ASX on 4 June 2020 and last traded at $3.81 on 13 October 2026. It reports a fund size of $796.53 million and uses the S&P/ASX 200 as its benchmark.

Detail

Information

Ticker

ASX:AASF

Fund

Airlie Australian Share Fund - Active ETF

Category

Equity Australia Large Blend

Benchmark

S&P/ASX 200 TR AUD

Fund size

$796.53 million

Management fee

0.78%

Total holdings

37

ASX admission date

4 June 2020

Investment approach

The manager assesses companies on four key criteria: financial strength, quality of the management team, quality of the business and valuation. It holds that active management can produce meaningful wealth accumulation relative to passive management.

Reported turnover is 89.21%, and cash is 2.25%.

Holdings

The ten largest positions represent 50.24% of the fund. BHP Group leads at 12.86%, followed by Commonwealth Bank of Australia (6.64%), National Australia Bank (5.16%), Aristocrat Leisure (4.62%) and Rio Tinto (3.76%).

SGH holds 3.65%, Macquarie Group 3.65%, Orica 3.36%, BlueScope Steel 3.32% and Medibank Private 3.19%.

Sector and country exposure

Financial Services holds 27.77% against 30.14% for the category, and Basic Materials 27.42%. Consumer Cyclical holds 11.33% against 7.27%. Healthcare is 6.14%, Communication Services 5.70%, Industrials 5.50% and Real Estate 5.50%.

Australia accounts for 91.00% of the fund and the United States for 9.00%, against 3.73% for the category. Companies between $500 million and $1 billion represent 10.03%.

Fee, risk and distributions

The management fee is 0.78% a year. The fund reports a beta of 1.01 and a standard deviation of 11.82. The final distribution of $0.180 per unit had an ex-date of 1 July 2026, a record date of 2 July and payment on 21 July.

That is higher than the $0.075 paid in January 2026, $0.073 in July 2025, $0.070 in January 2025 and $0.068 in July 2024.

Category classification and liquidity

Morningstar places the fund in the Equity Australia Large Blend category, which covers funds investing primarily in large Australian companies, defined as stocks in the top 70% of the Australian equity market by capitalisation, with the blend style applied where neither growth nor value characteristics dominate.

Liquidity indicators add a further view. There are 209,064,263 units on issue, and average daily trading volume is 42,065 units. Over the five sessions from 7 to 13 October 2026, daily volume ranged from 24,000 to 65,900 units, with 24,036 recorded on 13 October while the market was still open. The bid-offer range stood at $3.76 to $3.90, and the day range at $3.79 to $3.82. These figures change through the trading day and reflect market activity rather than the fund's holdings.

Recent announcements

The issuer lodged Units on Issue and Monthly Redemptions for September 2026 on 7 October and the AASF Fund Update for August on 4 September. A Change of Address notice followed on 4 September, and the 2026 Annual Financial Report on 28 August.

Final Takeaway

AASF concentrates on 37 Australian companies, with BHP at 12.86%, and charges a 0.78% fee for its active approach. Its turnover is high at 89.21%, and its July distribution was the largest of the five periods listed. These facts describe the fund and not future outcomes.