GROSSED UP YIELD3
1. Investment performance since new mandate adopted 1 July 2017.
2. Dividend yield is based on current displayed share price and dividends declared over the previous 12 months
3. Grossed up yield is based on current displayed share price, dividends declared over the previous 12 months and the tax rate and franking percentage applicable for the most recently declared dividend
INTERNATIONAL. ETHICAL. DIVIDENDS.
THE LARGEST INTERNATIONAL ETHICAL LIC ON THE ASX
Targeting fully-franked dividends. Paid Quarterly.
Pengana International Equities Limited (trading on the ASX as ‘PIA’) is a Listed Investment Company (“LIC”) that exists to provide shareholders with continued capital growth as well as regular, reliable, and fully franked dividends.
The strategy aims to generate superior risk-adjusted returns, through investing in an actively managed portfolio of global companies that meet the team’s high quality and durable growth criteria at reasonable prices. A robust responsible investment framework provides an added layer of risk mitigation.
These companies are identified through the conduct of fundamental research, with a long-term, global perspective, and must exhibit the following four key investment criteria: competitive advantages, quality management, financial strength, and sustainable growth potential.
Harding Loevner was appointed the investment manager on 10th May 2021. Harding Loevner is a New Jersey-based global equity fund manager formed in 1989 with over US$84billion in Assets under Management.
Benefits of investing in PIA’s LIC structure
- Shares can be bought and sold on the ASX
- Quarterly-annual fully franked dividends
- Investment activities are not affected by redemptions or unexpected cash inflows or outflows
- Regular reporting to shareholders e.g. semi-annual financial reports and weekly NTA
- Shareholders can interact with directors and management
- The company is subject to ASX and ASIC supervision
The portfolio 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:
*Material business involvement is generally considered to be over 5% of production of, or 15% aggregate revenue from, the production, distribution and retail of the screened product/service. For threhholds on each specific screen please refer to the Responsible Investment Policy HERE
OUR INVESTMENT PHILOSOPHY
Investing in high-quality, ethically screened, growing businesses at reasonable prices leads to superior risk-adjusted returns over the long term.
This “quality-growth” investment philosophy has been the foundation of Harding Loevner’s strategies since the firm was founded in 1989. Read more >>
The philosophy is expressed in the four key criteria that a company must meet before we will consider it for investment:
Sustainable return on capital above cost of capital within a supportive industry structure enabling it to earn better financial returns than rivals.
An industry structure supporting long-term growth in revenues, earnings, and cash-flow.
Growth underpinned by long-term fundamental trends, not ephemeral factors.
Balance sheet strength and free cash flow generation to fund long-term growth in all environments.
Skilful management with a good record, a clear strategy, and a consistent regard for shareholders.
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July 2017 represented the first full month of Pengana International Equities Limited being mandated to Pengana for management of the investment portfolio. The performance in the table above refers to the movement in net assets per share.
Performance figures refer to the movement in net assets per share, reversing out the impact of option exercises and payments of dividends, before tax paid or accrued on realised and unrealised gains. Past performance is not a reliable indicator of future performance, the value of investments can go up and down.
None of Pengana International Equities Limited (‘PIA’), Pengana Investment Management Limited nor any of their related entities guarantees the repayment of capital or any particular rate of return from PIA. This information has been prepared by PIA and does not take into account a reader’s investment objectives, particular needs or financial situation. It is general information only and should not be considered investment advice and should not be relied on as an investment recommendation. The figures are unaudited.
Source: PCG and Bloomberg.
Pengana International Equities Limited
PERFORMANCE AT 31 Aug 2022
Swipe horizontally to see all columns
* Performance for periods greater than 12 months are annualised. Performance figures refer to the movement in net assets per share, reversing out the impact of option exercises and payments of dividends, before tax paid or accrued on realised and unrealised gains. Past performance is not a reliable indicator of future performance, the value of investments can go up and down.
1. Pengana inception as the Investment Manager July 2017
2. MSCI World Total Return Index in AUD.
Total portfolio holdings as at 31 Aug 2022: 65.0000
- TOP HOLDINGS (alphabetically)
- Portfolio breakdown
5 years or more
TYPICAL NUMBER OF STOCKS:
1 July 2017
PIA Inception: 19 March 2004
Current Strategy Inception: 30 November 1989
MSCI World Total Return Index (net) in $A
15.38% of any return greater than the Benchmark
*Fees are stated inclusive of GST and net of RITC. For more information, refer to the Fund’s product disclosure statement available under the Reports & Resources section.
- Colonial First Wrap
- HUB24 – IDPS
- IOOF Core
- IOOF Pursuit
- Mason Stevens
- MLC Wrap/Navigator -IDPS
- Macquarie Wrap – Super/Pension
REPORTS AND RESOURCES
- Monthly Reports
- Responsible Investment
- Responsible Investment Active Ownership
- Portfolio Holdings
- August 2022 - Monthly Update
- July 2022 - Monthly Report
- June 2022 - Monthly Report - June
- May 2022 - Monthly Report - May
- April 2022 - Monthly Report - April
- March 2022 - A challenging environment for quality growth managers
- February 2022 - February Report
- January 2022 - Optimistic about the continued strength in innovation
- December 2021 - Sustaining profitable growth into an uncertain future
- November 2021 - The e-Commerce landscape
- October 2021 - Strong competitive positions
- September 2021 - The long-term health of China's society and economy
- August 2021 - Another month of gains for global equity markets.
- July 2021 - Portfolio Spotlight: US Banks
- June 2021 - Ushering in a new era of drug development
- May 2021 - A “golden era” for health care innovation
- February 2021 - Growing inflation expectations
- January 2021 - When there is blood in the streets, the sharks will circle
Portfolio holdings as at 30/06/2022
- Abcam PLC
- Accenture PLC
- Adobe Inc
- Adyen NV
- AIA Group Ltd
- Alcon Inc
- Align Technology Inc
- Alphabet Inc
- AMETEK Inc
- Applied Materials Inc
- ASML Holding NV
- Atlas Copco AB
- B3 SA - Brasil Bolsa Balcao
- Bank Central Asia Tbk PT
- Broadcom Inc
- CD Projekt SA
- Chugai Pharmaceutical Co Ltd
- CME Group
- CoStar Group Inc
- Country Garden Services Holdings
- Deere & Co
- Edwards Lifesciences Corp
- Epiroc AB
- Etsy Inc
- First Republic Bank
- HDFC Bank Ltd
- HelloFresh SE
- Hexagon AB
- Intuitive Surgical Inc
- IQVIA Holdings Inc
- Kering SA
- L'Oreal SA
- Lululemon Athletica Inc
- MercadoLibre Inc
- Meta Platforms Inc
- MISUMI Group Inc
- Netflix Inc
- Nike Inc
- NVIDIA Corp
- Pinterest Inc
- Roche Holdings
- Rockwell Automation
- Salesforce.com Inc
- Sangfor Technologies Inc
- Schneider Electric SE
- Spirax-Sarco Engineering PLC
- SVB Financial Group
- Synopsys Inc
- Taiwan Semiconductor Manufacturing
- Tencent Holdings
- Thermo Fisher Scientific
- Trade Desk Inc
- Tradeweb Markets Inc
- UnitedHealth Group Inc
- VAT Group AG
- Verisk Analytics Inc
- Vertex Pharmaceuticals Inc
- WuXi AppTec Co Ltd
- Wuxi Biologics Cayman Inc
- Xero Ltd
NEWS AND INSIGHTS
PIA announces another fully franked quarterly dividend
1.35c per share Fully franked at a tax rate of 30% 5.0% yield1 On a cash basis ...