eInvest Income Generator Fund ASX: EIGA

John Murray, Managing Director of Perennial Value discusses eInvest Income Generator Fund (Managed Fund)

Fixed Priced IPOType of Offer
29 Mar 18Offer Open
26 Apr 18Pay By
$4.00Price
UncappedSize of Offer
$5,000 Minimum Investment
N/ALead Manager
17
3217

Introduction

eInvest Income Generator Fund (Managed Fund) (ASX: EIGA) (the Fund) is a newly established Exchange Traded Management Fund (ETMF) managed by Perennial Investment Management Ltd. The Fund provides investors with the opportunity to generate a tax-effective income stream, paid monthly, through an investment in a diversified portfolio of Australian shares.

The Fund has been established to provide investors with:

  • Attractive, regular, tax-effective income stream.
  • The Fund targets a 7.0% annual pre-tax distribution yield, comprising a 5% cash dividend yield paid in monthly instalments and 2% franking credits.
  • Long-term capital growth.
  • Active management and diversification; and
  • Convenient, low cost listed structure.

The portfolio will consist of a diversified portfolio of quality Australian shares which the Investment Manager believes has the ability to pay an attractive level of dividend income and to grow in capital value over the long term.

Offer Overview

PIML is seeking to raise funds under the initial offer to seed the Fund prior to the units being admitted to trading status on ASX at an Issue Price of $4.00 per Unit. The Fund is seeking to raise a minimum of $10 million and has not set an upper limit on the amount that can be raised under. Investors must apply for a minimum of $5,000 of Units,

Investment objectives & Benchmark

The objective of the Fund is to provide investors with an attractive level of tax effective income, paid via monthly distributions.  The Fund targets a 7.0% annual pre-tax distribution yield, comprising a 5% cash dividend yield paid in monthly instalments and 2% franking credits.

The Fund will aim to achieve this by investing in a diversified portfolio of quality Australian shares listed (or soon to be listed) on the ASX, which PIML believes has the ability to pay an attractive level of dividend income and to grow in value over the long-term.  The portfolio may hold between 20 and 70 stocks, with the typical number held being around 30-40.

It is suited to investors who are seeking a greater level of income than that achieved by term deposits and are able to take full advantage of franking credits and share buybacks.

The Investment Manager

The Fund will be managed by Perennial Value Management Limited, which has a 17 year track record successfully managing clients’ money, including managing income-oriented share portfolios for over 12 years. It has a highly experienced team of 15 investment professionals and currently manages over $5 billion in Australian equities and derivatives.

Perennial Value Management Limited’s Managing Director, John Murray has over 30 years’ experience. Under John’s leadership, funds under management have grown from $40 million in 2000 to current levels and Perennial Value has won a number of prestigious industry awards and accolades.

What is an ETMF?

Exchange Traded Managed Fund's (ETMFs) are quoted on the ASX under the AQUA rules and are traded much like a share. ETMFs can provide you with a convenient way to gain exposure to a wide variety of investments. They can also be used as the building blocks for a well-diversified portfolio. For more information on ETMFs please read the PDS.

As set out in Section 6 of the PDS, eInvest Income Generator Fund is subject to a range of risks, including but not limited to investment objective risks, market stability, concentration risks, liquidity of investments and ASX liquidity.

 

Section 734(6) disclosure: The issuer of the securities is the eInvest Income Generator Fund (Managed Fund) ARSN 623311419. The securities to be issued are Units. The disclosure document for the offer can be obtained by clicking on the link above. The offers of the securities are made in, or accompanied by, a copy of the Product Disclosure Statement (PDS). Investors should consider the PDS in deciding whether to acquire the securities. Anyone who wants to acquire the securities will need to complete the application process which can be done via the OnMarket electronic application form which will become available by clicking the Invest button above.‚Äč

OnMarket has a limited allocation. The offer may close early and the 'Pay By' dates may change.

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