Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Perpetual offering attracts strong SMSF interest

Following strong interest from SMSF investors, Perpetual’s first listed investment company has raised $150 million, exceeding its initial target.

 

Perpetual Investments group executive Michael Gordon said the Perpetual Equity Investment Company (PIC) has resonated with SMSF trustees and advisers as it provides a regular and growing income stream and long-term capital.

Mr Gordon said the PIC is a diversified portfolio with 75 per cent Australian listed securities with typically a mid-cap focus and 25 per cent in listed global securities.

Advertisement
Advertisement

“Our engagement with investors, brokers and advisers over the past few weeks has reinforced the demand for portfolio diversity,” he said.

He said the LIC gives SMSFs “access to diversification normally reserved for institutional investors, in a liquid and transparent vehicle, as well as the potential for carefully managed dividends and franking credits”.

Perpetual portfolio manager Vince Pezzullo said he is already assessing investment opportunities in preparation for PIC’s listing on 12 December.

“PIC generally expects to release to the ASX the net tangible asset backing of its shares as at the end of each business day within two business days,” said Mr Pezzullo.

Perpetual offering attracts strong SMSF interest
default
nestegg logo
subscribe to our newsletter sign up
FROM THE WEB
Recommended by Spike Native Network
Bronson - I love you Brenton please write more....
The Patriot - It seems madness to lower interest rates when we know that we will need room to drop later as the economy slows on back of China slowing. If wages do.......
Anonymous - Does the RBA think?....
Anonymous - Bloody mad. Much cheaper and better and more fun to learn to cook for yourself. And, if you are time pressed, a crockpot set up the night before and.......