BetaShares - Australian Hybrids Active ETF (HBRD.AX)

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Effective after market close on March 31, 2026, HBRD will evolve to better align with developments in the Australian credit market, specifically the gradual discontinuation of Australian bank hybrids. This adjustment will enable the Fund to pursue a wider array of credit income opportunities. Importantly, these upcoming changes will not fundamentally alter the Fund's overall character or risk profile. HBRD will continue to offer actively managed, diversified exposure to Australian credit, providing monthly income distributions and maintaining hedges against currency and interest rate risks. Concurrently, the Fund will be renamed the Betashares Australian Credit Income Active ETF. More detailed information can be found in the official ASX announcement and the Supplementary PDS. The Fund's objective is to generate appealing monthly income for investors from a dynamically managed and diversified portfolio comprising hybrids, subordinated bonds, senior bonds, and cash. A professional manager is responsible for tactically allocating investments among these asset types.