Perennial Better Future Fund (Managed Fund) (ASX:IMPQ)
Pursuing strong and consistent returns
Perennial Better Future has committed to plant one tree for each direct client invested in our funds, working with the OneTreePlanted initiative.
Invest in the Perennial Better Future Fund (Managed Fund) (ASX:IMPQ) today.
Description
The Perennial Better Future Fund (Managed Fund) (ASX:IMPQ) is an actively managed portfolio of mainly smaller and mid-cap listed (and unlisted) companies.
We seek to invest in sustainable themes such as healthcare, education, renewable energy, low carbon technology, water management, environmental services and improving social welfare. We also invest in companies that have an Environmental, Social, Governance and Engagement Score (“ESG&E Score”) that is better than the benchmark.
The Fund does not invest in companies that to our knowledge receive any revenue from the manufacture, distribution or mining of tobacco or alcohol products (including electronic nicotine delivery systems e.g. ‘vaping’ devices, e-cigarettes), weapons or armaments, thermal coal, uranium, oil or gas, gambling, pornography, toxic pesticides, old growth forest logging or operations or transportation associated with the live exportation of animals offshore*.
*For a full list of inclusions and exclusions, please refer to the PDS.
Current Price
ASX Code
IMPQ
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Important Documents
Commentaries
Items
Distributions
Final End Of Financial Year Distribution
Announcement Date
2/07/2024
Ex Date
27/06/2024
Record Date
28/06/2024
DRP Cut Off Date
28/06/2024
Payment Date
10/07/2024
Distribution
7.1983 cents per unit
DRP Price
$4.9143
Important distribution information
Better Future Investments
The Perennial Better Future Fund (Managed Fund) (ASX:IMPQ) is an actively managed portfolio of mainly small and midcap listed (and unlisted) companies that are considered to be “Better Future Investments”. “Better Future Investments” are “Better Future Enabler Investments” or “Better Future Leader Investments.”
“Better Future Enabler Investments” are defined as companies that at the time of acquisition, conduct businesses that are deriving more than 50% of their gross revenue from business operations that:
- are generating renewable energy, improving energy efficiency or seeking to reduce greenhouse gas emissions; or
- are involved in water treatment or remediation; or
- are focused on providing environmental services or otherwise focused on environmental outcomes; or
- involve technology or processes that enable businesses and/or individuals to reduce their resource use or improve the efficiency of their resource use (including by processing materials for recycling); or
- contribute to social welfare outcomes, including improving the safety, health or well-being of workers; or
- relate to health outcomes, including health products and health services; or
- relate to education services or outcomes (including without limitation childcare).
“Better Future Leader Investments” are companies that, at the time of acquisition, have a Perennial-derived Environmental, Social, Governance and Engagement Score (ESG&E Score), which exceeds the weighted ESG&E score of the benchmark index and does not satisfy the Better Future Enabler Investments definition.
The ESG&E Score is a proprietary scoring system that has been developed by Perennial Better Future. Perennial Better Future uses the ESG&E Score to evaluate a company’s Environmental, Social and Governance (ESG) performance. As part of the ESG&E Score, the Investment Manager undertakes an assessment on each individual ESG component and considers relevant factors as part of its assessment. These factors include, but are not limited to:
- Environmental – greenhouse gas emission disclosures, alignment with the Paris Agreement and environmental impact of operations.
- Social – executive diversity, occupational health and safety and modern slavery risks in supply chains.
- Governance – Board independence, board expertise and skill mix, and remuneration policies.
The ESG&E Score also assesses the company’s ‘Engagement’ on ESG related issues and subjectively assesses to what extent the company is engaged with improving ESG and sustainability outcomes within the business. The ESG&E Scoring methodology applies a 20% weighting to each ‘Environmental’, ‘Social’ and ‘Governance’ component and applies a 40% weighting to ‘Engagement’. This provides a total weighted score out of 10, which is then compared with the benchmark’s weighted average ESG&E score. Factors such as the outcome of Perennial Better Future’s engagement with company management and directors will also be considered as part of the company’s assessment. Perennial Better Future may also take into account external information such as publicly available data, financial disclosures, annual reports, sustainability reports, the company’s website, stockbroker research and external data sources.
Typically, no less than 35% of the portfolio will be held in Better Future Enabler Investments.
Negative Screens
The Fund does not invest in companies that, to the best of the Investment Manager’s knowledge, receive any revenue from:
- the manufacture, distribution or sale of tobacco or alcohol products, including electronic nicotine delivery systems (ENDS) as defined by the US Food and Drug Administration (e.g. ‘vaping’ devices, e-cigarettes) alternatively described as nicotine vaping products (NVP);
- the manufacture, distribution or sale of weapons or armaments;
- extraction or sale of thermal coal, metallurgical coal, uranium, oil or gas (other than recycled oil);
- gambling or betting operations;
- the production, sale or distribution of pornography;
- the manufacture or distribution of toxic pesticides;
- old growth forest logging; or
- operations or transportation associated with the live exportation of animals offshore.
ASX Announcements
Historical NAV (Net Asset Value)
Date
NAV Price
01-Jul-2024
$4.8157
28-Jun-2024
$4.8284
27-Jun-2024
$4.8557
26-Jun-2024
$4.9862
25-Jun-2024
$4.9638
24-Jun-2024
$4.9314
21-Jun-2024
$4.9431
20-Jun-2024
$4.9315
19-Jun-2024
$4.9428
18-Jun-2024
$4.9258
17-Jun-2024
$4.9048
14-Jun-2024
$4.8946
12-Jun-2024
$4.8978
11-Jun-2024
$4.9414
07-Jun-2024
$5.0044
06-Jun-2024
$5.0206
05-Jun-2024
$4.9858
04-Jun-2024
$4.9524
03-Jun-2024
$5.0200
31-May-2024
$4.9994
30-May-2024
$4.8913
29-May-2024
$4.8930
28-May-2024
$4.9197
27-May-2024
$4.9848
24-May-2024
$4.9340
23-May-2024
$4.9829
22-May-2024
$4.9623
21-May-2024
$4.9757
20-May-2024
$4.9551
17-May-2024
$4.9458
16-May-2024
$4.9798
14-May-2024
$4.9507
13-May-2024
$4.9605
10-May-2024
$4.9474
09-May-2024
$4.9363
08-May-2024
$4.9347
06-May-2024
$4.9089
03-May-2024
$4.8986
02-May-2024
$4.8613
Historical Net Asset Values
Fees
Management fee of 0.99% pa, inclusive of GST and RITC and a monthly performance fee of 20% of any out performance of the Benchmark Index. The Benchmark Index is the S&P/ASX Small Ordinaries Accumulation Index.
For a performance fee to be paid:
- The Fund’s net return for the month must be positive;
- The Fund must outperform the index for the month; and
- Any previous underperformance must be made up.
- Fees and costs as described in section 6 of the PDS will apply.
Unit Price Chart
Past performance is not a reliable indicator of future performance.
Perennial Better Future Fund Commentary 03/21