Highlights

  • INES selects shares using environmental, social and governance factors alongside financial criteria.
  • The portfolio contained 23 companies, with its ten largest holdings representing 53.68%.
  • Australia represented 50.46% of geographic exposure, with the United States, United Kingdom and Canada also significant.
  • Management fees and costs were listed at 0.97%, with fund size of AUD 62.84 million.

Intelligent Investor Ethical Share Fund Active ETF (ASX:INES) seeks medium- to long-term Capital growth through a portfolio of stocks selected using environmental, social and governance factors and financial criteria. The manager aims to identify companies it considers undervalued. At the time of writing on 6 November 2026, INES was trading at AUD 3.44. Its holdings combine Australian and overseas businesses, making the actual geographic mix an important part of understanding the fund’s exposure.

An active mandate guided by valuation and ESG criteria

INES uses active company selection rather than seeking to reproduce every constituent in its listed S&P/ASX 200 benchmark. The manager’s assessment of financial value and ESG factors shapes which businesses enter the portfolio and how much capital is allocated to them. A judgment that a stock is undervalued does not establish a future outcome.

The portfolio figures listed 23 companies. Financial services accounted for 38.48% of sector exposure, communication services 26.64%, consumer cyclical companies 18.01%, technology 12.08% and healthcare 4.79%. This relatively focused sector mix means active decisions can materially influence the overall portfolio.

International holdings broaden the country mix

Australia represented 50.46% of geographic exposure, followed by the United States at 20.03%, United Kingdom at 13.92%, Canada at 11.66% and Ireland at 3.93%. The allocation therefore extends meaningfully beyond domestic shares, despite the Australian benchmark used for comparison.

Visa was the largest holding at 7.23%, followed by Fairfax Financial at 5.83%, CAR Group at 5.47% and AUB Group at 5.42%. Constellation Software represented 5.37% and Amazon 5.19%. Eagers Automotive, Auto Trader Group, Pinnacle Investment Management and ResMed completed the ten largest positions. Together, those holdings represented 53.68%, illustrating the significance of individual selections within the concentrated portfolio.

Costs distributions and the portfolio structure

The asset allocation was 96.24% equities and 3.75% cash. Companies above AUD 1 billion represented 81.33% of the Market Capitalisation breakdown, with 18.68% in the AUD 500 million to AUD 1 billion band. These figures describe a focused Equity allocation with some cash capacity.

Management fees and costs were listed at 0.97%. The final distribution was AUD 0.264 per unit, ex-distribution on 29 June 2026, with a Record Date of 30 June and payment on 23 July. Future amounts can vary. Manager selection, sector concentration and overseas currency exposure are relevant risks alongside normal movements in share prices.

Key Insights

INES combines active ethical stock selection with a material international allocation. Its relatively small company count and substantial financial and communication services exposures make the manager’s decisions central to the portfolio. The actual country mix is more informative than the benchmark label alone.