To invest in an actively managed, well-diversified Australian equities portfolio predominately comprised of Australian listed equities, which aims to
(i) generate annual income (including franking credits) in excess of the S&P/ASX 200 Franking Credit Adjusted Daily Total Return Index (Tax Exempt) ('Benchmark'); and
(ii) outperform (after fees) the Benchmark in total return terms including franking credits over the investment cycle (typically 3 to 5 years).
Plato Investment Management Limited (‘the Manager’) will implement the investment strategy by investing in F Class Units, being a special class of units in the 'Plato Australian Shares Income Fund ARSN 152 590 157 (‘Plato Fund’)’, on which no fees are payable to the Manager or the Responsible Entity of the Plato Fund and are non-transferable. In all other respects, the rights of F Class Units are materially the same as the rights of ordinary units in the Plato Fund. The Company will hold 100% of the F Class Units, and the balance of the Plato Fund’s units will be held by the Plato Fund’s existing wholesale and retail investors.
The Manager employs a disciplined systematic process to take advantage of market inefficiencies to seek to deliver higher levels of income (including franking credits) than the Benchmark.
Plato Investment Management Limited (Plato) has been appointed the Manager for the implementation of the company’s investment strategy for the LIC.
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
Jonathan Trollip is a non-executive director with over 34 years of commercial, corporate, governance, legal and transaction experience. Prior to becoming a professional non-executive director, he worked as a principal of Meridian International Capital Limited for over 20 years, and before that, he was a Partner with law firm Herbert Smith Freehills. In the philanthropy area, he is chairman of Science for Wildlife Limited and a director of The Watarrka Foundation and the Pinnacle Charitable Foundation. Jonathan has a B.Arts, post graduate degrees in Economics and Law and is a Fellow of the Australian Institute of Company Directors.
Jonathan Trollip is currently independent chairman of ASX listed Antipodes Global Investment Company Limited, Future Generation Investment Company Limited, Spheria Emerging Companies Limited and Global Value Fund Limited (listed investment companies). He is also a non-executive director of ASX listed Propel Funeral Partners Limited and of Kore Potash PLC (ASX, AIM and JSE listed).
Lorraine Berends has worked in the financial services industry for over 40 years and possesses extensive experience in both investment management and superannuation. Before moving to a non-executive career in 2014, she worked for 15 years with US based investment manager Marvin & Palmer Associates. Lorraine contributed extensively to industry associations throughout her executive career, serving on the boards of the Investment Management Consultants Association (IMCA Australia, now the CIMA society of Australia) for 13 years (7 as Chair) and the Association of Superannuation Funds Australia (ASFA) for 12 years (3 as Chair). Lorraine has been awarded Life Membership of both IMCA Australia and ASFA.
Lorraine is currently an independent non-executive director of Antipodes Global Investment Company Limited, Spheria Emerging Companies Limited and Hearts and Minds Investments Limited (listed investment companies), and an independent non-executive director of Pinnacle Investment Management Group Limited and a company appointed director of Qantas Superannuation Limited. Lorraine holds a BSc from Monash University, is a Fellow of the Actuaries Institute and a Fellow of ASFA.
Katrina Onishi has over 25 years' experience in financial markets as an equities analyst and portfolio manager, both in Australia and overseas. After a long career in investment markets, in 2000, Katrina co-founded Concord Capital, an Australian equities funds management firm of which she was an Executive Director for ten years. In addition, Katrina has 20 years' experience as a company director, including several as a director of ASX-listed companies namely Vitaco Holdings Ltd and Scottish Pacific Group Limited. Katrina is also director and advisor to Little Company of Mary, a not-for-profit organisation and holds a B.A. (Hons) from University of Sydney, is a Chartered Financial Analyst, a Graduate Member of the Australian Institute of Company Directors and a Fellow of FinSIA.
Alex Ihlenfeldt holds the position of Chief Operating Officer of Pinnacle and serves as a director on a number of Pinnacle affiliate boards, listed investment companies and both Cayman and UCITS investment entities. He has over 25 years financial services experience in both Australia and South Africa. Alex was intimately involved in the establishment of Pinnacle and each of its affiliates. His responsibilities include the provision of the infrastructure services and support required by the Pinnacle Group.
Alex Ihlenfeldt is a non-independent director of Antipodes Global Investment Company Limited and an alternate director of Spheria Emerging Companies Limited (listed investment companies), and is a director of Plato Investment Management Limited, Solaris Investment Management Limited, Antipodes Partners Limited, Antipodes Partners Holdings Limited, Antipodes Partners Services Limited, Antipodes Partners (UK) Limited, Riparian Capital Partners Pty Ltd, Aikya Investment Management Limited, Aikya Investment Management AU Pty Ltd and Pinnacle Charitable Foundation Ltd and alternate director of Foray Enterprises Pty Limited, Resolution Capital Limited and Firetrail Investments Pty Limited.
Alex has a Bachelor of Commerce (Hons) and is a member of the Institute of Chartered Accountants Australia and New Zealand as well as a Fellow of the Australian Institute of Company Directors.
Dr Don Hamson
Don Hamson has over 27 years investment management experience and was the founding Managing Director of Plato. Prior to establishing Plato Don was Head of Active Equities, Asia Pacific (and as a member of the global Senior Management Group) at State Street Global Advisers. Prior to joining State Street Don was Chief Investment Officer at Westpac Investment Management, where he was involved in forming BT Financial Group and was a member of the Investment Committee.
Don has a Bachelor of Commerce with First Class Honours and a PhD in Finance from the University of Queensland (UQ). Before moving to the investment industry Don was a Lecturer in Finance at UQ and a visiting Professor at the University of Michigan Business School.
The investment strategy implemented by the Manager is focused on investments with the potential to deliver regular income as well as capital growth over the long term.
After sufficient profits have been built up, the Board aims for the Company to be able to pay regular monthly dividends from available profits, provided it has sufficient profit reserves, and it is permitted by law and within prudent business practice to do so.
The declaration of dividends by the Company is at the full discretion of the Board. In declaring dividends, in addition to the matters set out above, the Board will also have regard to cash flow and franking credits. The Company is currently accumulating reserves in order to commence paying monthly dividends in the near future, and, subject to board review, expects to declare the first monthly dividend in October 2017.
PL8 Shareholder presentation on full year results FY20
PL8 half-year FY20 results announcement
PL8 Shareholder presentation on full year results FY19
PL8 FY19 results announcement
PL8 Shareholder presentation on half-year results FY19
PL8 Shareholder presentation on annual results
PL8 FY18 results announcement
Annual Report 2018
Annual Report 2017