Plato Income Maximiser Limited – ASX:PL8

Company Overview

Plato Income Maximiser Limited (ASX:PL8) offers Australian investors the opportunity to invest in an actively managed, diversified portfolio of Australian shares with an income focus.

PL8 is the first Australian Listed Investment Company targeting to pay monthly dividends, which will appeal to investors who require a dependable income stream from their investment portfolio.

Based on the investment strategy of the Plato Australian Shares Income Fund and launched in response to investor demand for an ASX-listed product that delivers high income, PL8 is designed specifically with SMSF and pension-phase investors in mind.

CURRENT SHARE PRICE (ASX:PL8)

$1.10

PLATO INMX FPO

ASX ANNOUNCEMENTS

headlineid	DATE	time	HEADLINE	Symbol	pages
21,258,602	23 Oct 2020	06:23 PM	Net Tangible Asset Backing	PL8	1
21,257,551	20 Oct 2020	02:55 PM	September 2020 Investment Update	PL8	3
21,257,001	16 Oct 2020	05:54 PM	Net Tangible Asset Backing	PL8	1
21,256,623	15 Oct 2020	01:20 PM	Annual Report	PL8	80
21,256,563	15 Oct 2020	10:05 AM	Notice of Annual General Meeting/Proxy Form	PL8	14

All ASX Announcements

OBJECTIVE
Generate annual income (including franking credits) and outperform (after fees) the Benchmark in total return terms including franking credits over the investment cycle (typically 3 to 5 years).
BENCHMARK
S&P/ASX 200 Franking Credit Adjusted Daily Total Return Index (Tax Exempt) ('Benchmark')

Investment Manager

Plato is a boutique fund manager specialising in maximising income for pension-phase and SMSF investors. Plato was founded in Sydney by Dr Don Hamson in 2006 and is majority owned and operated by its investment staff and supported by its minority equity holder, Pinnacle Investment Management Limited (AFSL 322140).

BOARD OF DIRECTORS

The Company believes that the Manager has the skill, depth of knowledge and history of achieving results using the Investment Strategy and processes to manage this Portfolio.

The Manager will be overseen by the Board of Directors who have a broad range of experience in investment management combined with financial and commercial expertise.

Meet our Board

RATINGS

Recommended - Zenith Investment Partners¹

Recommended - Independent Investment Research²

Latest Updates

FY20 Results & Portfolio Update

PERFORMANCE AS AT 30 SEPTEMBER 2020

PORTFOLIO PERFORMANCE¹	1M%	3M%	1YR% P.A.	3YRS% P.A.	INCEPTION% P.A.
Total return²	-4.0	0.3	-7.6	7.1	5.4
Income³	0.5	1.7	7.2	9.0	7.9
Bench. total return²	-3.5	-0.1	-9.3	6.2	5.1
Excess total return	-0.5	0.4	1.7	0.9	0.3
Excess Income³	0.0	0.4	3.0	3.7	2.4
Excess franking³	0.0	0.1	1.1	1.3	0.9

¹Past performance is not a reliable indicator of future performance. Performance is quoted in AUD net of portfolio related fees, costs and taxes.
²Including franking credits and special dividends.
³Distributed income including franking credits.

NET TANGABLE ASSETS¹	blank
Pre-tax NTA	$0.941
Post-tax NTA	$0.994
Distributed Dividends since inception	$0.201
Distributed Dividends (incl. franking)	$0.287

¹NTA calculations exclude Deferred Tax Assets relating to capitalised cost deductions and carried forward tax losses of $0.005. The Franking Account Balance (not reflected in NTA) is $0.014 per share.
²Pre-tax NTA includes tax on realised gains or losses and other earnings, but excludes any provision for tax on unrealised gains or losses.
³Post-tax NTA includes tax on realised and unrealised gains or losses and other earnings.

PL8 Share Price v NTA¹^,²

Source: Iress, Plato Investment Management.
¹NTA calculations exclude Deferred Tax Assets relating to capitalised cost deductions and carried forward tax losses of $0.005. The Franking Account Balance (not reflected in NTA) is $0.014 per share.
²Pre-tax NTA includes tax on realised gains or losses and other earnings, but excludes any provision for tax on unrealised gains or losses.

PORTFOLIO PROFILE

TOP 10 HOLDINGS	TOP 10 YIELDING	YIELD% P.A.¹
ANZ	Fortescue Metals	15.4
BHP Group	Woodside Petroleum	9.7
Commonwealth Bank	Aurizon Holdings	8.4
CSL	ANZ	8.1
Fortescue Metals Group	BHP Group	7.0
Macquarie Group	Medibank Private	6.8
Northern Star Resources	Westpac	6.8
Telstra Corporation	Commonwealth Bank	6.7
Westpac	Harvey Norman	6.6
Woolworths	AusNet Services	6.6

¹Including franking credits

UPDATES AND REPORTS

SEPTEMBER MONTHLY REPORT

Click on the link below to view the full monthly report.

FULL REPORT

DOWNLOADS

AUGUST MONTHLY REPORT FY20 ANNUAL REPORT FY20 HALF-YEAR RESULTS FY19 FULL-YEAR RESULTS

CORPORATE GOVERNANCE

The Board has the responsibility of ensuring the Company is properly managed so as to protect and enhance shareholders’ interests in a manner that is consistent with the Company’s responsibility to meet its obligations to all parties with which it interacts. To this end, the Board has adopted what it believes to be appropriate corporate governance policies and practices having regard to its size and the nature of activities.

The Board endorses the Corporate Governance Principles and Recommendations (ASX Recommendations) published by the ASX Corporate Governance Council and has adopted corporate governance charters and policies reflecting those ASX Recommendations (to the extent that such principles and recommendations are applicable to an entity of the size and structure of the Company).

Corporate Governance Charter Download

Corporate Governance Statement Download

Whilstleblower Policy

SHAREHOLDER ENQUIRIES

For information regarding investor shareholdings, please contact the Share Registry.

Share Registrar: Automic

Address: Level 5, 126 Phillip Street, Sydney NSW 2000
GPO Box 5193, Sydney NSW 2001

Phone: 1300 288 664

Email: hello@automic.com.au

RESEARCH RATINGS DISCLAIMER

¹The Zenith Investment Partners (“Zenith”) ABN 60 322 047 314 rating for the Plato Income Maximiser Limited assigned June 2020 referred to in this document is limited to “General Advice” (as defined by the Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Zenith usually charges the product issuer, fund manager or a related party to conduct Product Assessments. Full details regarding Zenith’s methodology and regulatory compliance are available on our Product Assessment’s and the Zenith website.

² The rating ascribed by IIR is provided under the Annual LIC Research Participation Scheme whereby the LIC Manager provides information and IIR rating is monitored on a monthly basis to ensure its currency – The manager is a participant as of 1 September 2020 and as such this rating is current. Please note an ascribed rating does not constitute advice in any form. We recommend to any reader that no investment decisions are made on this fund without seeking advice from your Wealth Manager.

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“A good decision is based on knowledge and not on numbers.”

Plato (427-347 BC)