Perennial Income Generator Fund (Managed Fund) (ASX:EIGA)
Objective
EIGA aims to provide you a regular, monthly income. We do this by aiming for a gross yield (adjusted for franking credits and after fees) above that provided by the S&P/ASX 300 Franking Credit Adjusted Daily Total Return Index (Tax-Exempt).
Investor Profile
EIGA is suited to investors who are seeking a greater level of income than that achieved by term deposits and are able to take full advantage of franking credits and share buybacks that the investments can provide.
Fund Benefits
- EIGA invests in listed Australian companies with growing dividend streams.
- EIGA is targeting a gross income yield of 7%p.a.* (comprising a 5% cash dividend yield and 2% franking credits).
- EIGA provides you consistent, monthly distributions.
- EIGA is an actively managed, well diversified portfolio of approximately 30-40 quality stocks.
- EIGA’s fundamental investment process is based on capital preservation and balance sheet strength.
- The Investment Manager, Perennial Value, has a long-term track record generating consistent income for clients based on their Shares for Income strategy.
- The ASX tradeable structure is easy, convenient and low cost.
*The distribution yield target is the gross yield based on the unit price at the start of the period, it is inclusive of franking credits. The income target comprises of a 5% cash dividend yield, paid monthly, and 2% franking credits, payable at year end. The final gross yield is not known until completion of each financial year. The distribution yield target is not guaranteed but is a target based on assumptions. Should these assumptions prove inaccurate this will change the final income outcome.
Perennial Partners has committed to plant one tree for each client invested in our funds, working with the OneTreePlanted initiative.
Current Price
ASX Code
EIGA
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Important Documents
Commentaries
Items
Performance & Yield Information
Yield data as at 30 June 2023
Distribution frequency
Monthly
12 Month Distribution Yield (including Franking Credits)
9.2%
6.9% cash yield
2.3% franking credits
Franking Level
67%
Distributions
Monthly Distribution March
Announcement Date
11/04/2024
Ex Date
8/04/2024
Record Date
9/04/2024
DRP Cut Off Date
9/04/2024
Payment Date
15/04/2024
Distribution
1.7850 cents per unit
DRP issue price
$3.7983
ASX Announcements
Investment Manager
Perennial Value focuses on:
- Making sure that EIGA’s stock selection is driven by fundamentals
The investment team focuses on putting together for you a number of quality businesses in EIGA that:
- Can grow their earnings and dividends over time – growing companies grow their dividends – it’s important.
- Are trading at reasonable valuations. Perennial Value doesn’t like to pay for investments that are expensive.
- Have strong balance sheets. Capital preservation is really important.
EIGA’s income is enhanced by really simple things such as:
- Tilting EIGA towards higher dividend paying companies.
- Increasing the weights to those companies ahead of dividend paying periods.
- Participating in off market buybacks.
Historical NAV (Net Asset Value)
Fees
Management fee of 0.80% pa, inclusive of GST and RITC. Fees and costs as described in section 5 of the PDS will apply.
Unit Price Chart
Past performance is not a reliable indicator of future performance.
Perennial Income Generator Fund Commentary 03/21