Australian Equities Income Fund

The Australian Equities Income Fund gives investors exposure to companies that generate a high component of their return from income.

Investment strategy

The Australian Equities Income Fund invests in a high conviction portfolio of 20-40 Australian listed companies with sustainable and growing income streams.

The Fund targets capital preservation over supernormal returns, through a consistent focus on the security selection process and careful management of portfolio exposure and is managed by Pengana’s highly regarded Australian Equities team

The Fund seeks to generate consistent superior investment returns with a high component of the return from income,  using fundamental analysis to select and own securities with the following characteristics;

  • Good businesses with transparent and resilient business models;
  • Competent management with a track record of integrity; and
  • A favourable relationship between the market price and the future cash flows of the business.

The team employs detailed fundamental company research, including screens on historic and future dividend yields to uncover investment opportunities.

Benefits of investing

Focus on sustainable and growing income. Pengana principally targets Australian listed companies capable of generating underlying cash earnings yields of at least 6% per annum as the basis for a sustainable and growing dividend stream.

High conviction. All positions are high conviction and assessed on a risk-reward basis, resulting in a portfolio of 20-40 securities.

Superior research. The investment team attends many company management meetings each year as an integral part of the idea generation and company valuation process.

Flexibility. The strategic asset allocation of the Fund allows flexibility to respond to changing market conditions and opportunities.

Focus on capital preservation. Downside management is preferred over supernormal returns. 

  • Performance History
    Fund performance for Australian Equities Income Fund

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    Performance at March 2018
    1 MTH 1 YEAR 3 YEARS 5 YEARS Since Inception
    Australian Equities Income Fund -2.60% - - - -1.29%
    RBA Cash Rate Target 0.13% - - - 1.00%
    Outperformance vs. RBA -2.73% - - - -2.29%
     
    Australian Equities Income Fund -2.60% - - - -1.29%
    ASX 300 Accumulation Index -3.73% - - - 4.49%
    Outperformance vs. S&P/ASX 1.12% - - - -5.78%

    Net performance figures are shown after all fees and expenses, and assume reinvestment of distributions. Past performance is not a reliable indicator of future performance, the value of investments can go up and down.

    A new strategy was implemented for the Australian Value Trust from 1 August 2017 by the Pengana team. The financial information refers to the new strategy. For full performance history of the prior strategy of the Australian Value Trust please refer to the unit price history in the section below.

    The equally weighted portfolio is calculated by compounding the equally weighted monthly returns of the Pengana funds that were open during each month.  The calculation includes the following funds: Pengana Emerging Companies Fund, Pengana Australian Equities Fund, Pengana Absolute Return Asia Pacific Fund, Pengana Global Small Companies Fund, Pengana International Equities Fund, Pengana International Equities Managed Risk Fund, Pengana PanAgora Absolute Return Global Equities Fund.  Net performance figures are shown after all fees and expenses, and assume reinvestment of distributions. Past performance is not a reliable indicator of future performance, the value of investments can go up and down.

  • Fund Facts
    Minimum initial investment

    $20,000

    Recommended timeframe

    Five or more years

    Inception date

    29 November 2001 (previously named Hunter Hall Australian Value Trust).

    Benchmark

    RBA Cash Rate

    Management fee (incl GST)

    0.716% per annum

    Performance fee

    Performance fee of 10.25% of any increase in the Class' NAV less any loss carried forward, after deduction of the management fee and adjusted for applications, redemptions and distributions to investors

    Buy/sell spread

    0.25% for both applications and redemptions.

    Entry/ exit fees

    Nil

    Fund pricing

    Daily

    Distribution frequency

    Twice yearly (June and December)

    Typical number of stocks

    20-40.

    APIR code

    HHA0001AU

     

    Platform access
    • AMP Summit
    • Asgard
    • BT Wrap
    • HUB24
    • Macquarie Wrap
    • Netwealth
    • OneVue
    • Powerwrap
  • Unit Prices
    Unit Prices History Table
    Date Application Redemption Distributions
    23 Apr 2018 1.1919 1.1860 -
    20 Apr 2018 1.1905 1.1846 -
    19 Apr 2018 1.1940 1.1881 -
    18 Apr 2018 1.1973 1.1913 -
    17 Apr 2018 1.1934 1.1875 -
    16 Apr 2018 1.1949 1.1890 -
    13 Apr 2018 1.1942 1.1882 -
    12 Apr 2018 1.1943 1.1883 -
    11 Apr 2018 1.1997 1.1937 -
    10 Apr 2018 1.2087 1.2027 -
    09 Apr 2018 1.2013 1.1953 -
    06 Apr 2018 1.1961 1.1902 -
    05 Apr 2018 1.1962 1.1902 -
    04 Apr 2018 1.1898 1.1839 -

    Download Unit Prices

    A new strategy was implemented for the Australian Value Trust from 1 August 2017 by the Pengana team. The unit price history prior to 1 August 2017 refers to the previous strategy.

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    A new strategy was implemented for the Australian Value Trust from 1 August 2017 by the Pengana team. The unit price history prior to 1 August 2017 refers to the previous strategy.

  • Investment Team
    Rhett Kessler
    Rhett Kessler

    Chief Investment Officer

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    Anton Du Preez
    Anton Du Preez

    Deputy Chief Investment Officer

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    Mark Christensen Website4
    Mark Christensen

    Fund Manager

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    Chris Tan
    Chris Tan

    Fund Manager

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    Jonathan Rabinovitz in shape 2 180px 72ppi
    Jonathan Rabinovitz

    Investment Analyst

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  • Investor Notifications
    Complaints resolution process for retail clients who invest through Platforms Download
    Attribution Managed Investment Trust regime changes - 4 December 2017 Download
  • Reports and Resources

    Australian Equities Income Fund