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 an experienced Director with over 30 years of commercial, corporate, governance, legal and transaction experience.
Jonathan is currently non-executive chairman of ASX listed Global Value Fund Limited, Future Generation Investment Company Limited, and Antipodes Global Investment Company and a non-executive director of ASX listed Kore Potash Limited. He holds commercial private company directorships with Meridian International Capital Limited and BCAL Diagnostics Pty Ltd. In the philanthropy area he is chairman of Science for Wildlife Limited, and a director of The Watarrka Foundation and the University of Cape Town Australia Alumni Trust.
Jonathan has worked as a principal of Meridian for the past 22 years. Prior to that, he was a Partner with law firm Herbert Smith Freehills. He holds postgraduate degrees in economics and law, was admitted as a qualified lawyer in England and Australia and is a Fellow of the Australian Institute of Company Directors.
Katrina is an Independent Non-Executive Director on the Board of Scottish Pacific Limited and a member of the Audit and Risk Committee. Katrina is also a director and advisor to several not for profit organisations. Until 2010 Katrina was an executive director of Concord Capital Limited (Concord), a boutique funds management business that she co-founded in 2000. Prior to co-founding Concord, Katrina held several funds management roles both in Australia and overseas.
Katrina holds a Bachelor of Arts (Hons) from the University of Sydney and is a Chartered Financial Analyst.
Katrina is a member of the CFA Institute, a Graduate Member of the Australian Institute of Company Directors and a Fellow of the Financial Services Institute, Australasia.
Lorraine has worked for over 30 years in the pension and investment industries, and possesses extensive experience in both the investment management and superannuation fields.
Lorraine serves on the BT Financial Group Superannuation Board, the Board of the MDC Foundation and is a member of the investment committee of QSuper. Lorraine is a non-executive director of Antipodes Global Investment Company Limited, an ASX listed investment company. She served on the Board of the Association of Superannuation Funds of Australia for 12 years and the Board of the Investment Management Consultants Association for 13 years, and has been awarded Life Membership of both associations.
Lorraine is a Fellow of the Institute of Actuaries of Australia, a Fellow of ASFA, a Member of the Australian Institute of Company Directors and holds a BSc from Monash University, Melbourne.
Dr Don Hamson
Don has twenty five years investment management experience and founded the Manager in 2006. Don is an equity holder in the firm. Don has considerable experience at managing equity portfolios. Don has written a number of white papers on after tax investing and has spoken at many conferences and seminars on this subject.
Prior to founding the Manager, Don was Head of Active Equities, Asia Pacific and a member of the global Senior Management Group at State Street Global Advisors, responsible for over $10B in active and enhanced equity
Don previously held various positions at Westpac Investment Management, including Chief Investment Officer, Head of Equities where he managed the $1B Tax Effective Share Fund, a Westpac appointed director on the board of Hastings Funds Management and was instrumentally involved in the mergers of BT and Rothschild. Prior to Westpac Don was a senior analyst at Queensland Investment Corporation.
Don was a Lecturer in Finance at the University of Queensland (UQ) for 6 years, and was a Visiting Assistant Professor at the University of Michigan Business School. Don has a PhD in Finance and a Bachelor of Commerce with First Class Honours and a University Medal from the University of Queensland.
Alex Ihlenfeldt has over 25 years commercial experience in financial services in Australia and overseas and has proven expertise in the provision of the full suite of turn-key, institutional quality non-investment services for investment managers. He is experienced in operating across the full spectrum, from start- up boutiques to mature investment managers.
Alex is currently Chief Operating Officer and Chief Financial Officer of Pinnacle Investment Management Limited with
whom he has been associated since inception in 2006. Prior to joining Pinnacle in 2011, he spent 10 years with the Wilson HTM Investment Group as Chief Operating Officer, Chief Financial Officer and Head of Wealth Management.
Alex has a Bachelor of Commerce (Hons) and is a member of the Institute of Chartered Accountants Australian and New Zealand as well as a Fellow of the Australian Institute of Company Directors.
Alex is a director of both Pinnacle Fund Services Limited, the Responsible Entity of the Plato Fund and the Manager. Alex is a Director of each of Pinnacle, Solaris Investment Management Limited, Antipodes Partners Limited, an Alternate Director of Resolution Capital Limited and he is Chairman of the Pinnacle Fund Services Limited’s Compliance Committee. Alex is a non-independent director of Antipodes Global Investment Company Limited.
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.