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High Income Value Microcap Fund

For wholesale investors looking for regular cash income

Fund Highlights*

Total Return since inception in 2012

+284.11%

Compound pa since inception in 2012

+9.90%

Unit Price

$1.7865

Recommended Investment Term

5+ Years

Historical Grossed Up Distribution Yield

+6.98%

Pays Monthly

Cash Distributions

Total Return since inception in 2012

+284.11%

Compound pa since inception in 2009

+9.90%

Unit Price

$1.7865

Historical Grossed Up Distribution Yield

+6.98%

Recommended Investment Term

5+ Years

Pays Monthly

Cash Distributions

  • Franking Credit (cpu)
  • Cash Distribution (cpu)
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About the Fund

  • Invests in a hand picked concentrated portfolio of undervalued ASX listed Microcaps with proven business models that can fund and sustain high long term dividend payments.
  • Monthly liquidity; no gearing or derivatives (cash & long equities only.)
  • Microequities’ management, staff and directors have over $110m co-invested across all funds providing strong alignment with clients.
  • For wholesale and sophisticated investors only as defined by the Corporations Act 2001.

Minimum
$100,000

Minimum
$100,000

Minimum
$100,000

Minimum
$100,000

Investment Approach

Value driven approach Investee companies must be highly undervalued, profitable and meet a very demanding investment criteria. All research done “in-house” by our specialist Microcap and Smallcap investment team, independent of market noise and views. Concentrated long-only portfolio Portfolio of 15-40 companies with a 5 years + investment horizon. Some of the factors that may be looked at when considering an investment by the fund are:

  • Companies with a well-established business model
  • Companies generally should be at least 2 years or longer EBITDA profitable
  • Companies with low or no debt are preferred
  • High cash flow generating businesses
  • Companies with high earnings visibility and disclosure
  • Companies with a predictable future earnings stream
  • Companies in a growing sector
  • Companies that have a growth catalyst division, product or service
  • Companies with a highly competitive advantage or brand name
  • Companies with a stable management and track record for delivering value to shareholders
  • Companies where management has a significant stake
  • Companies with a reputable board of directors

Key Benefits of the Fund

Value driven approach Investee companies must be highly undervalued, profitable and meet a very demanding investment criteria. In-house investment research All research done “in-house” by our specialist Microcap and Smallcap investment team, independent of market noise and views. Concentrated long-only portfolio Portfolio of 15-40 companies with a 5 years + investment horizon. Some of the factors that may be looked at when considering an investment by the fund are:

  • Early access to potential high growth companies
  • Manager specialised in the Microcap asset class for over 10 years
  • Manager with solid track record of succesful investments
  • In-house research expertise and capability
  • Value investing philosophy
  • Bottom-up investment research based experience
  • Performance based incentive for the Manager
  • Distributions may carry imputation tax credits
  • Stocks generally held for longer than 12 months thus delivering CGT benefits to Unit holder

CASH DISTRIBUTIONS HISTORY

Date of Distribution

June 2025

Dec 2024

June 2024

Dec 2023

June 2023

Dec 2022

June 2022

Dec 2021

June 2021

Dec 2020

June 2020

Dec 2019

June 2019

Dec 2018

June 2018

Dec 2017

June 2017

Dec 2016

June 2016

Dec 2015

June 2015

Dec 2014

June 2014

Dec 2013

June 2013

Dec 2012

June 2012

Cash Distribution

6.53 cents per unit

3 cents per unit

5.69 cents per unit

3.0 cents per unit

7.58 cents per unit

3.0 cents per unit

8.64 cents per unit

2.4 cents per unit

1.97 cents per unit

1.8 cents per unit

2.684 cents per unit

2.6 cents per unit

3.82 cents per unit

2.65 cents per unit

3.20 cents per unit

2.78 cents per unit

3.57 cents per unit

3.23 cents per unit

4.82 cents per unit

3.27 cents per unit

5.18 cents per unit

3.79 cents per unit

3.56 cents per unit

2.56 cents per unit

5.49 cents per unit

4.17 cents per unit

2.97 cents per unit

Franking Credit

1.99 cents per unit

0.91 cents per unit

1.9 cents per unit

1.02 cents per unit

2.56 cents per unit

1.01 cents per unit

3.15 cents per unit

0.9 cents per unit

1.63 cents per unit

1.32 cents per unit

1.42 cents per unit

1.55 cents per unit

1.65 cents per unit

1.36 cents per unit

1.47 cents per unit

1.28 cents per unit

1.23 cents per unit

1.10 cents per unit

1.04 cents per unit

1.32 cents per unit

1.31 cents per unit

1.66 cents per unit

1.32 cents per unit

1.45 cents per unit

1.30 cents per unit

2.19 cents per unit

1.3 cents per unit

(*) Data as at 31/05/2026

(**) Fund inception on 1 March, 2012. (***) Subject to change pending distribution calculation at 30 June 2019’. Year returns are calculated as compound per annum. Returns are calculated after all fees and expenses and reinvestment of distributions. Please note that past performance is not indicative of future performance.

Fund Performance*

High Income Microcap Fund

12 Year

+8.66%

10 Year

+8.35%

5 Year

+6.30%

1 Year

+14.19%

Total since inception**

+284.11%

Compound since inception

+9.90%

(*) Data as at 31/05/2026

(**) Fund inception on 1 March, 2012. (***) Subject to change pending distribution calculation at 30 June 2019’. Year returns are calculated as compound per annum. Returns are calculated after all fees and expenses and reinvestment of distributions. Please note that past performance is not indicative of future performance

Latest Fund Updates

Historical Data

Microequities strongly recommend that potential investors seek independent professional advice as to the risk, financial, taxation and other implications of investing. Past performance is not indicative of future performance. Microequities Asset Management Pty Ltd is a corporate authorised representative, number 462438, as appointed by Microequities Asset Management Group Limited holder of AFSL number 287526. Application for units in the Fund is limited to investors that are Wholesale or Sophisticated investors within the meaning of Section 761G(7) and 761GA(7) of the Corporations Act 2001.

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