Registry LOGINFund Overview
Our Equity Income Fund focuses on providing investors with a reliable, and relatively high, income stream, as well as capital growth, with lower volatility than the ASX 300. It does this by investing in high-yielding listed Australian and NZ companies and hybrids, as well as conservative options trading to take advantage of the sharemarket’s natural volatility. It is managed by Michael O’Neill and Tuan Luu.
- Suitable for: investors wanting a reliable income stream and capital growth with low volatility
- Invests in: 40-50 Australian companies listed on the ASX
- Investment timeframe: 4+ years
- Investment objectives: provide income 2% above the S&P/ASX 300 Accumulation Index, at lower volatility, on a rolling four-year basis
Fund Facts
| Portfolio Managers | Michael O'Neill & Tuan Luu |
| Benchmark | S&P/ASX 300 Accumulation Index |
| Inception | 1 Jan 2011 |
| ARSN | 107 095 438 |
| APIR | IML0005AU |
| Distribution frequency | Generally Quarterly |
| Peformance fee | nil |
| Management fee | 0.993% p.a. of the net assets of the fund (includes net effect of GST) |
Performance
| 1mth | 3mth | 6mth | 1yr | 2yrs^ | 3yrs^ | 5yrs^ | 10yrs^ | Since inception^ |
|
|---|---|---|---|---|---|---|---|---|---|
| Income | 0.0% | 1.5% | 3.5% | 7.2% | 7.0% | 6.9% | 6.9% | 7.4% | 8.1% |
| Growth | -2.3% | -2.6% | 0.8% | 7.1% | 2.0% | 1.3% | -1.3% | -1.3% | -0.1% |
| Total Return | -2.3% | -1.1% | 4.3% | 14.3% | 9.0% | 8.2% | 5.6% | 6.1% | 8.0% |
| Benchmark* | -1.3% | 2.2% | 8.3% | 24.9% | 13.1% | 7.6% | 8.1% | 8.3% | 8.3% |
^ Performance per annum
* The benchmark for this fund is the S&P/ASX 300 Accumulation Index.
Fund returns are calculated using the exit price, net of management fees, assuming all distributions are reinvested with no allowance for tax. Past performance is not a reliable indicator future performance.
Sector and stocks
| Company Name | ASX code | Sector | % weight |
|---|---|---|---|
| BHP Group Limited | BHP | Materials | 7.1% |
| Telstra Group Limited | TLS | Communication Services | 6.9% |
| National Australia Bank Limited | NAB | Financials | 6.0% |
| CSL Limited | CSL | Health Care | 5.1% |
| Brambles Limited | BXB | Industrials | 4.8% |
| Aurizon Holdings Limited | AZJ | Industrials | 4.4% |
| Westpac Banking Corporation | WBC | Financials | 4.3% |
| Steadfast Group Limited | SDF | Financials | 3.8% |
| The Lottery Corporation Limited | TLC | Consumer Discretionary | 3.7% |
| Charter Hall Retail REIT | CQR | Real Estate | 3.6% |
Fund holdings as at 31 Oct 2024
Unit Prices
| Date | Entry | Exit |
|---|---|---|
| 20 Nov 2024 | $0.9537 | $0.9489 |
| 19 Nov 2024 | $0.9608 | $0.9560 |
| 18 Nov 2024 | $0.9544 | $0.9496 |
| 15 Nov 2024 | $0.9512 | $0.9464 |
| 14 Nov 2024 | $0.9467 | $0.9419 |
Distribution information
| Period ending | Amount (cents per unit) |
|---|---|
| September 2024 | 1.5000 cpu |
| June 2024 | 1.7207 cpu |
| March 2024 | 1.5000 cpu |
| December 2023 | 1.5000 cpu |
| September 2023 | 1.5000 cpu |
| June 2023 | 1.5981 cpu |
| March 2023 | 1.6500 cpu |
| December 2022 | 1.5000 cpu |
Past performance is not a reliable indicator of future performance as a result past distributions are not indicative of future distributions.
Past performance is not a reliable indicator of future performance as a result past distributions are not indicative of future distributions.
| Franking level (%) | ||||
|---|---|---|---|---|
| FY23 | FY22 | FY21 | FY20 | FY19 |
| 46.4% | 45.9% | 28.8% | 36.2% | 39.6% |
This is not tax advice. it is important that you seek professional taxation advice that takes into account your particular circumstances before you invest or deal with your investment.
Ratings and awards
Morningstar - Bronze
Zenith - Recommended
How to invest
Direct investors can click Invest Now for a step-by-step guide to investing with IML. The Equity Income Fund is also available on the following platforms:
AMP North | Asgard | BT Panorama | CFS Firstwrap | Growwrap | Hub 24 | Infocus | Insignia Expand | Insignia Pursuit | Insignia Rhythm | JB Were | Linear | Macquarie Wrap | Mason Stevens | Netwealth | Portfolio Care | Powerwap | Praemium | Dash
© 2024 Morningstar, Inc. All rights reserved. Neither Morningstar, its affiliates, nor the content providers guarantee the data or content contained herein to be accurate, complete or timely nor will they have any liability for its use or distribution. This report or data has been prepared for clients of Morningstar Australasia Pty Ltd (ABN: 95 090 665 544, AFSL: 240892) and/or New Zealand wholesale clients of Morningstar Research Ltd, subsidiaries of Morningstar, Inc. Any general advice has been provided without reference to your financial objectives, situation or needs. For more information refer to our Financial Services Guide at www.morningstar.com.au/s/fsg.pdf. You should consider the advice in light of these matters and if applicable, the relevant Product Disclosure Statement before making any decision to invest. Morningstar’s publications, ratings and products should be viewed as an additional investment resource, not as your sole source of information. Morningstar’s full research reports are the source of any Morningstar Ratings and are available from Morningstar or your adviser. Past performance does not necessarily indicate a financial product’s future performance. To obtain advice tailored to your situation, contact a financial adviser.
The Zenith Investment Partners (“Zenith”) Australian Financial Services License No. 226872 rating (assigned 24 June 2024) referred to in this document is limited to “General Advice” (as defined by the Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Zenith usually charges the product issuer, fund manager or a related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessment’s and at http://www.zenithpartners.com.au/RegulatoryGuidelines
The rating issued 09/2023 is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445 (Lonsec). Ratings are general advice only, and have been prepared without taking account of your objectives, financial situation or needs. Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and Lonsec assumes no obligation to update. Lonsec uses objective criteria and receives a fee from the Fund Manager. Visit lonsec.com.au for ratings information and to access the full report. © 2022 Lonsec. All rights reserved.
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