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For wholesale investors looking for regular cash income

FUND HIGHLIGHTS*

1 Year Return

+6.19%

Unit Price

$1.7469

Total return since inception in 2012

+208.96%

Compound pa since inception in 2012

+11.44%

Historical Grossed Up Distribution Yield

+8.64%

Recommended Investment Term

5+ Years

Fund Status

OPEN

* as at 31/07/2022

 

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High Income Value Microcap Fund
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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 $60m co-invested across all funds providing strong alignment with clients.

✓ For wholesale and sophisticated investors only as defined by the Corporations Act 2001.

Minimum
Investment

$50,000

Applications &
Redemptions

Monthly

Recommended
Investment Term

5+ Years

Cash Distributions

Monthly

Cash Distributions History

Date of DistributionCash DistributionFranking Credit
June 20228.64 cents per unit3.15 cents per unit
Dec 20212.4 cents per unit0.9 cents per unit
June 20211.97 cents per unit1.63 cents per unit
Dec 20201.8 cents per unit1.32 cents per unit
June 20202.684 cents per unit1.42 cents per unit
Dec 20192.6 cents per unit1.55 cents per unit
June 20193.82 cents per unit1.65 cents per unit
Dec 20182.65 cents per unit1.36 cents per unit
June 20183.20 cents per unit1.47 cents per unit
Dec 20172.78 cents per unit1.28 cents per unit
June 20173.57 cents per unit1.23 cents per unit
Dec 20163.23 cents per unit1.10 cents per unit
June 20164.82 cents per unit1.04 cents per unit
Dec 20153.27 cents per unit1.32 cents per unit
June 20155.18 cents per unit1.31 cents per unit
Dec 20143.79 cents per unit1.66 cents per unit
June 20143.56 cents per unit1.32 cents per unit
Dec 20132.56 cents per unit1.45 cents per unit
June 20135.49 cents per unit1.30 cents per unit
Dec 20124.17 cents per unit2.19 cents per unit
June 20122.97 cents per unit1.3 cents per unit

Date of Distribution, Cash Distribution and Franking Credit as follows;

Date of DistributionCash DistributionFranking Credit
June 20228.64 cents per unit3.15 cents per unit
Dec 20212.4 cents per unit0.9 cents per unit
June 20211.97 cents per unit1.63 cents per unit
Dec 20201.8 cents per unit1.32 cents per unit
June 20202.684 cents per unit1.42 cents per unit
Dec 20192.6 cents per unit1.55 cents per unit
June 20193.82 cents per unit1.65 cents per unit
Dec 20182.65 cents per unit1.36 cents per unit
June 20183.20 cents per unit1.47 cents per unit
Dec 20172.78 cents per unit1.28 cents per unit
June 20173.57 cents per unit1.23 cents per unit
Dec 20163.23 cents per unit1.10 cents per unit
June 20164.82 cents per unit1.04 cents per unit
Dec 20153.27 cents per unit1.32 cents per unit
June 20155.18 cents per unit1.31 cents per unit
Dec 20143.79 cents per unit1.66 cents per unit
June 20143.56 cents per unit1.32 cents per unit
Dec 20132.56 cents per unit1.45 cents per unit
June 20135.49 cents per unit1.30 cents per unit
Dec 20124.17 cents per unit2.19 cents per unit
June 20122.97 cents per unit1.3 cents per unit
 

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FUND PERFORMANCE*


7yr
5yr
3yr
1yr
Total return since inception**
High Income Microcap Fund
+10.14%
+7.77%
+12.01%
+6.19%
+208.96%

(*) Data as at 31/07/2022. (**) 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

Investment Approach

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 investment team, independent of market noise and views.

Concentrated long-only portfolio
Portfolio of 20-40 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

  • 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