SHARE PRICE
NTA PRE-TAX2
PERFORMANCE SINCE MANDATED1

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 capital growth as well as regular, reliable, and fully franked dividends.
The strategy aims to generate consistent long-term returns whilst reducing volatility and the risk of losing capital, from investing in an ethically screened and actively managed portfolio of global businesses.
PIA’s portfolio is diversified across geographies, industries, and company sizes. The companies considered for inclusion in the portfolio demonstrate large and growing free cash flow generation, low levels of debt, are reasonably valued, and fit our ESG requirements.
The investment strategy utilised by PIA was devised by experienced investment professionals over many years.
Benefits of investing in the strategy
- Skilled investment team
- A truly active strategy
- Investment approach that is suitable across different market environments
- Investment in high-quality businesses at compelling valuations
- Focus on risk and return
- Responsible Investment process
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:

7 KEY INGREDIENTS FOR OUR STOCK PICKS
PERFORMANCE
- CHART
- TABLE
July 2017 represented the first full month of Pengana International Equities Limited being managed under the new investment mandate with the new investment team. 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. Inception date of PIA: 19 March 2004, new investment team with new mandate adopted: 1 July 2017.
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. Past performance is no guarantee of future performance. 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.
PERFORMANCE AT 29 Jan 2021
1 MTH | 1 YEAR | 3 YEARS | SINCE MANDATED | |
---|---|---|---|---|
Pengana International Equities Limited | 1.1% | 13.8% | 12.1% | 12.6% |
MSCI World Total Return Index, Net Dividends Reinvested, in A$ | -0.4% | 0.7% | 10.3% | 11.5% |
Swipe horizontally to see all columns
July 2017 represented the first full month of Pengana International Equities Limited being managed under the new investment mandate with the new investment team. 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. Inception date of PIA: 19 March 2004, new investment team with new mandate adopted: 1 July 2017.
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. Past performance is no guarantee of future performance. 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.
PORTFOLIO
- TOP HOLDINGS (alphabetically)
- Sector breakdown










Key Facts
ASX CODE:
PIA
RECOMMENDED TIMEFRAME:
3 years or more
TYPICAL NUMBER OF STOCKS:
30-50
MANDATED:
1 July 2017
DIVIDEND FREQUENCY:
QUARTERLY
BENCHMARK:
MSCI World Total Return Index (net) in $A
MANAGEMENT FEE:*
1.23% p.a.
PERFORMANCE FEE:*
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.
PLATFORM AVAILABILITY
- AMP North
- Colonial First Wrap
- IOOF Core
- IOOF Pursuit
- Mason Stevens
- MLC Wrap
- Netwealth
- Powerwrap
REPORTS AND RESOURCES
- Monthly Reports
- Financial Reports
- Responsible Investment Process
- Responsible Investment Governance
- Responsible Investment Active Ownership
- January 2021 - When there is blood in the streets, the sharks will circle.
- December 2020 - Quarterly commentary
- November 2020 - The reflation trade
- October 2020 - Meaningfully differentiated
- September 2020 - An unnatural situation for capital markets
- August 2020 - Healthy growth prospects at the most attractive valuations
- July 2020 - A time to stick to fundamentals
- June 2020 - Quarterly wrap up and a look to the future
1 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.
Inception date of PIA: 19 March 2004, new investment team with new mandate adopted: 1 July 2017.
2 The figures are unaudited.