About Underly
Who's behind Underly
Underly is a factual reference for Australian investors: it unwraps ETFs to the holdings underneath and organises the paperwork that comes with them. It is built by one person with two decades in Australian financial services, and it is deliberately narrow about what it claims to do.
Why it exists
The facts about what an ETF holds are already public. Issuers publish holdings files, the ASX publishes its monthly product report, and the ATO publishes the labels every distribution component maps to. None of it is secret — it is just scattered across a dozen formats, published on different clocks, and almost impossible to total up by hand.
So most investors never find out that two funds they own hold much of the same thing, or what their real exposure to four banks actually is. Underly does the totalling, shows the source for each number, and leaves the conclusions to you.
The promise
We state facts, and stop
Underly shows what a fund holds, what you hold through it, and what your statements add up to. It does not tell you what to buy, sell or hold, and it never will.
Every figure is sourced and dated
Each number traces to the issuer file, exchange report or ATO instruction it came from, and carries the date that source was published — not the date you loaded the page.
We say when a machine made it
Fund pages are generated from the data spine rather than written by hand. Where that is true, the page says so.
We correct things in the open
When a figure is wrong we fix the source data and say what changed, rather than quietly restating it.
Underly is general information only. It does not take your circumstances into account and it is not financial, tax or legal advice.
Who makes it
Two decades building and running technology inside Australian financial services, across superannuation and investment platforms, fund research and ratings, and advice technology — much of it in APRA-regulated environments.
- Master of Applied Finance (FINSIA)
- Graduate Diploma of Applied Finance & Investment (FINSIA)
- Fellow, FINSIA
- Graduate, Australian Institute of Company Directors (GAICD)
- Bachelor of Business, Information Systems (University of South Australia)
How it's made
The legal entity
Underly is published by Seraco Pty Ltd, an Australian company.
- Registered name
- Seraco Pty Ltd
- ACN
- 673 560 757
- ABN
- 36 673 560 757
- Registered in
- Victoria, Australia
- Publishing since
- 2026
- Contact
- andrew@underly.com.au
Seraco Pty Ltd does not hold an Australian Financial Services Licence. Underly publishes factual information about financial products; it does not provide financial product advice or recommendations, and nothing on it takes your objectives, financial situation or needs into account.
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