Australian Mid Cap
Overview
The Paradice Australian Mid Cap Fund was established in September 2006 with Matthew Riordan as Portfolio Manager since its inception.
The Fund typically invests in 40-60 companies listed outside of the S&P/ASX 50, providing investors with an exposure to a diversified portfolio of emerging Australian businesses.
We believe equity markets are often inefficient due to investor emotion, short-term thinking and too much reliance on a single aspect of a company’s financial health – it’s profit and loss statement. Our key focus is on management, current and future cash flows and the quality of the balance sheet.
Our expertise lies in evaluating a company’s market position taking into account all factors from balance sheet, macroeconomic drivers through an extensive visitation program.
Objective
The Paradice Australian Mid Cap Fund aims to outperform the benchmark of S&P/ASX Mid-Small Total Return Index over a three to five year period (after management costs and before tax).
Fund Details
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APIR Code |
ETL9086AU |
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Cboe Code |
M1DS1 |
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Distribution Frequency |
Semi-Annually |
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Management Fee |
0.9% p.a. |
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Performance Fee* |
15% p.a. |
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Buy Sell Spread |
+/- 0.25% |
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Indicative NAV Per Unit**
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$6.2547 |
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Last iNAV Price Update |
12/06/26 1:54 pm AEST
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Daily MPI File |
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Minimum Investment*** |
$20,000 |
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Stock Range^ |
Typically 40–60 |
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Cash Range^ |
0–10% |
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The Paradice Australian Mid Cap Fund – Active ETF (ARSN 620 055 138), offers Class A units via a dual access structure where investors can purchase and sell units either on-market via Cboe or off-market via the Responsible Manager’s application form.
1Listing effective 5 November 2025
^These are typical target ranges, and do not represent the prescribed stock and cash limitations set for the Fund
*Applies to the investment performance achieved by the Fund (after management fees and costs) in excess of the Benchmark. Refer to PDS for more information.
**An indicative NAV per Unit (“iNAV”) for the Fund will be published throughout the Trading Day. The iNAV reflects the real time movements in stock markets and currencies during the Trading Day and, for securities not trading during the Trading Day, listed proxy instruments selected on the basis of correlations with the underlying investments. The proxies and their correlations with underlying instruments are reviewed regularly and updated as required. The iNAV represents the best estimate by the Responsible Entity (“RE”) or its appointed agents of the value per unit in the Fund throughout the trading day. The iNAV published by the Fund is indicative only and might not accurately reflect the underlying value of the Fund. The Issuer or its appointed agents gives no guarantees that the iNAV will be published continuously or that it will be up to date or free from error. To the extent permitted by law, neither the RE or its appointed agent shall be liable to any person who relies on the iNAV.
***Applicable to units acquired directly with the unit registrar – refer to the PDS for more information and full disclaimer below
Lead Portfolio Manager
Matthew joined Paradice in May 2004 from BT Financial Group, where he was Head of the Smaller Companies Fund. Matthew has over 30 years’ experience in portfolio management and analysis, having joined the BT (formerly Rothschild) smaller companies team in 1995. Matthew is a qualified Chartered Accountant and worked in the Corporate Recovery division of KPMG from 1992 to 1995. Matthew also holds a Bachelor of Commerce from University of New South Wales.
Latest Fund Factsheet
Performance History
Net Returns as at 31 May 2026
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1M
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3M
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1Y
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3Y
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5Y
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Since Inception
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Inception Date
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|---|---|---|---|---|---|---|---|
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Australian Mid Cap Fund - Active ETFBenchmark (2)Value Add
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1.21% 1.86% -0.65% |
-9.01% -6.13% -2.88% |
1.83% 7.05% -5.22% |
9.45% 9.82% -0.37% |
5.93% 6.62% -0.69% |
8.90% 6.70% 2.20% |
25 Sep 2006
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Benchmark: S&P/ASX Mid-Small Total Return Index from 20 October 2025. Prior to this date the benchmark was 70% of the S&P/ASX Mid Cap 50 Total Return Index + 30% of the S&P/ASX Small Ordinaries Total Return Index.
Past performance of the Fund is not a reliable indicator of future performance. The value of an investment in the Fund may rise or fall. Returns are not guaranteed by any person. Fund returns are calculated before tax and after ongoing management costs. Returns are annualised for time periods greater than 1 year. The performance of the Paradice Australian Mid Cap Fund – Active ETF is calculated using the NAV price. All returns are denoted in Australian dollars. For further information please refer to our Terms & Conditions page.
Daily Fund Unit Prices
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APIR Code / Fund
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Application ($)
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NAV/Mid ($)
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Redemption ($)
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Effective Date
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History
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|---|---|---|---|---|---|
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ETL9086AU
Paradice Australian Mid Cap Fund - Active ETF
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6.1270
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6.1117
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6.0964
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11/06/2026
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Reports & Documents
To view more of our reports and statements for the Fund please visit our Investor Centre.
Two Ways to Access M1DS:
- Stockbroker
- Administrator
- Stockbroker
- Administrator
Stockbroker
| Provider | Units | Indicative NAV |
|---|---|---|
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Bloomberg |
M1DS AU Equity |
M1DSAUIV Index |
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Iress |
M1DS.CXA |
M1DSAUDINAV |
- Check the current M1DS buy/sell price with your stockbroker or your online trading platform.
- Buy or sell units using the security code M1DS.
For details on how to invest in the off-market units see the Administrator option drop down above.
*An indicative NAV per Unit (“iNAV”) for the Fund will be published throughout the Trading Day. The iNAV reflects the real time movements in stock markets and currencies during the Trading Day and, for securities not trading during the Trading Day, listed proxy instruments selected on the basis of correlations with the underlying investments. The proxies and their correlations with underlying instruments are reviewed regularly and updated as required. The iNAV represents the best estimate by the Responsible Entity (“RE”) or its appointed agents of the value per unit in the Fund throughout the trading day. The iNAV published by the Fund is indicative only and might not accurately reflect the underlying value of the Fund. The Issuer or its appointed agents gives no guarantees that the iNAV will be published continuously or that it will be up to date or free from error. To the extent permitted by law, neither the RE or its appointed agent shall be liable to any person who relies on the iNAV.
Individual investors
To begin investing please ensure that you have read the documents below including our Product Disclosure Statement (PDS) in which you will find The Application Form and Anti Money Laundering (AML/CTF) identity verification requirements:
To invest in our funds or add to an existing investment, use our online application linked below:
To submit your application via email, please sent the completed Application Form and applicable AML/CTF documentation to: paradice.transactions@unitregistry.com.au
Alternatively, to submit your application via post, please send the completed Application Form and applicable AML/CTF documentation to:
Unit Registry Services – Paradice Investment Management
GPO Box 804, Melbourne VIC 3001
Financial advisers
For more information on available platforms please speak with our Representative on +612 8227 7400
Need some support?
If you have any questions regarding your existing investment or queries on making a new investment, please speak to one of our friendly staff or email us.
***This information is prepared by Paradice Investment Management Pty Ltd (ABN 64 090 148 619, AFSL No. 224158) (Paradice, we or us). This material is provided for general information only and is not intended to constitute advertising or advice (including legal, tax or investment advice) of any kind. Equity Trustees Limited (ABN 46 004 031 298, AFSL No. 240975) (Equity Trustees) is the responsible entity of, and issuer of units in, the Paradice Funds (Funds). Equity Trustees is a subsidiary of EQT Holdings Limited (ABN 22 607 797 615), a publicly listed company on the Australian Securities Exchange (ASX:EQT). In deciding whether to acquire, or to continue to hold, units in the Funds please read the current product disclosure statement available above or in the Investor Centre. The Target Market Determination (TMD) for the Funds is also available above and in the Investor Centre. We encourage you to think of investing as a long-term pursuit. In preparing this information, we have not considered your investment objectives, financial situation or needs and therefore the Fund(s) may not be suitable for you and, you should, if necessary, seek independent professional advice before you make any investment decision. Any rates of return, forecasts or estimates are not guaranteed. Neither Paradice, Equity Trustees nor any of its related parties, their employees or directors, provide any warranty of accuracy or reliability in relation to such information or accepts any liability to any person who relies on it.