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Global equities that really add up

Invest in a listed portfolio of ethically screened global companies

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Pengana International Equities Limited (ASX: PIA) provides access to the benefits of an actively managed core portfolio of 30-50 ethically screened companies across developed and developing global markets via a listed investment company structure.

The strategy is focused on investing in high quality businesses at compelling valuations, which are highly cash generative and suitable across market environments. The result is a portfolio that delivers consistent long-term returns and minimises volatility.

 

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  $A
Pengana International Equities Limited (ASX: PIA)

 

NET TANGIBLE ASSET (NTA) BACKING

As at 18 April 2019

  Cents per share
NTA value before provision for tax on unrealised income and gains 121.19
Provision for tax on unrealised income and gains (1.64)
 NTA value after provision for tax on unrealised income and gains 119.55

The net asset value of the Company is unaudited and calculated using last sale price (less realisation costs) to value the investments, with no reference to the number of outstanding options.

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Pengana International Equities Ltd Strategy Update
Pengana International Equities Ltd Strategy Update
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This report may only be accessed by holders of Australian Financial Services Licences and their authorised representatives. This report is not to be circulated or distributed and is solely for the information of financial services professionals.

Key reasons to invest

  • Consistent performanceConsistent performance
  • Ethical screenEthical screen
  • Half yearly dividendsHalf yearly dividends
  • Experienced investment teamExperienced investment team
  • Simple to investSimple to invest
  • Currently trading at a discount**Currently trading at a discount**

Key reasons to invest

Consistent performance The aim of PIA is to generate consistent long-term returns whilst reducing volatility and the risk of losing capital.
Ethical screen PIA seeks to avoid investing in businesses that are, in its opinion, currently involved in activities that are unnecessarily harmful to people, animals or the environment.
Half yearly dividends The Board is committed to paying a regular and growing fully franked dividend, provided the Company has sufficient profit reserves and franking credits and it is within prudent business practices.
Experienced Investment Manager The investment team has over 90 years of combined experience investing in global equities and has developed a successful and repeatable investment process.
Simple to invest A single ASX trade to access a diversified portfolio of global companies across developed and developing markets.
Currently trading at a discount** PIA is currently trading at a discount to net tangible assets, presenting a value opportunity to invest.

Pengana International Equities Limited (ASX: PIA) strategy update

Pengana International Equities Limited provides access to the benefits an actively managed core portfolio of 30-50 ethically screened companies across developed and developing global markets, with consistent long-term returns and low volatility, through a single ASX trade.

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How to invest

How to invest

Pengana International Equities Limited shares are traded on the Australian Securities Exchange (ASX) under the ticker code PIA. If you don’t have a stockbroker, the ASX provides a service which can assist you in choosing a stockbroker.

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Further information

Further information

If you require more information, or have any questions about Pengana International Equities Limited (ASX: PIA), please feel free to contact us and a member of our dedicated service team will assist you.

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FREQUENTLY ASKED QUESTIONS

  • Q. What is the investment strategy?

    The aim of PIA is to generate consistent long-term consistent returns whilst reducing volatility and the risk of losing capital.

    The strategy is long-only, benchmark independent and typically holds 30-50 companies. The mandate allows investment across geographies, industries and company sizes. The companies considered for inclusion in the portfolio demonstrate large and growing free cash flow generation and are priced attractively relative to their cash flow.

  • Q. What is the investment process?

    An integral element of the portfolio construction process is the division of stocks that meet the investment criteria into three segments: Core, Cyclical and Opportunistic.

    Core - (60-80% of the portfolio) are stable and growing businesses that generate consistent returns.

    Cyclical - (0-30% of the portfolio) are businesses operating in cyclical industries that are poised for a cyclical upturn, which is not recognised in their share price.

    Opportunistic - (0-20% of the portfolio) are unique, company specific situations that offer attractive potential upside.

    The portfolio is created from the 30-50 stock ideas that work best together, rather than just the 30-50 best ideas.

  • Q. What does the ethical mandate involve?

    The strategy utilises a negative screening process which seeks to avoid investment in companies that derive operating revenues from direct and material business involvement in the following sectors:

    • the manufacture or sale of weapons and weapon components,
    • tobacco manufacture,
    • gambling outlets or systems,
    • intensive animal farming,
    • animal testing for cosmetics,
    • activities that give rise to human rights violations,
    • unremediated destruction of the environment,
    • uranium mining and nuclear reactors, and
    • fossil fuel exploration, production, refining, storage and transportation.

    Integration of environmental, social and governance (ESG) factors into the research process directs investments to well-managed, responsible and progressive companies.

  • Q. How do I invest?

    Pengana International Equities Limited shares are traded on the Australian Securities Exchange (ASX) under the ticker code PIA.  You can purchase shares through a stockbroker in the same way as you buy shares in other companies.

    If you do not have a stock broker, the ASX provides a service which can assist you in choosing a stock broker.

  • Q. Who should I talk to if I have any questions about Pengana International Equities Limited

    If you would like more information or have any questions relating to Pengana International Equities Limited, you can contact our dedicated Client Service team on +612 8524 9900 or email clientservice@pengana.com. You should seek relevant professional advice before making an investment decision.