Plato Income Maximiser Ltd. · ASX:PL8
Plato Income Maximiser — H1 2019 Earnings Presentation
22 slides from Plato Income Maximiser's earnings presentation, Feb 22, 2019
Slide 1: Conference call reminder and presentation on half-year results
Plato Income Maximiser Limited Level 35, 60 Margaret Street Sydney NSW 2000 Telephone: 1300 010 311 Email: invest@plato.com.au ABN 63 616 746 215 22 February 2019 For personal use only By Electronic Lodgement The Manager Company Announcements Office ASX Ltd 20 Bridge Street SYDNEY NSW 2000 Dear Shar
Slide 2: Company Half-Year Results
For personal use only Company Half-Year Results
Slide 3: Agenda
For personal use only 01 PL8 investment strategy and performance 02 Manager update Agenda 03 Questions
Slide 4: PL8 investment strategy and performance
For personal use only PL8 investment strategy and performance www.plato.com.au 3
Slide 5: PL8 investment portfolio performance
PL8 investment portfolio performance Performance to 31 December 2018 after fees and costs* For personal use only Since Half-Year Inception p.a. (28/4/2017) Including Franking Portfolio -4.8% 3.0% S&P/ASX200 Tax Exempt -6.1% 3.0% Active +1.3% 0.0% *Inclusive of the net impact of GST and Reduced Input
Slide 6: Longer term performance
Longer term performance Plato Australian Shares Income Fund performance after fees For personal use only Source: Plato, IRESS www.plato.com.au 5
Slide 7: PL8 delivering high income
PL8 delivering high income For personal use only 12 month realised yield* 9.0% 8.0% 7.0% 6.0% 5.0% Yield 4.0% 3.0% 2.0% 1.0% 0.0% RBA Cash Rate S&P/ASX 200 Fund CashCash Yield 1.5 4.3 5.7 Franking Franking Yield 0.0 1.4 2.4 Source: Plato, RBA, Bloomberg *to 31 December 2018 after fees www.plato.com.
Slide 8: PL8 dividends
PL8 dividends For personal use only During 1HFY19, six monthly dividends of 0.5 cents were paid, bringing the annual yield of PL8 including franking to 8.4%*, in excess of the benchmark annual yield at 31 December 2018 of 5.7%. The Board declared three fully franked dividends of 0.5 cents per share
Slide 9: Option expiry
Option expiry For personal use only ▪ PL8 options (PL8O) will expire on 29 April 2019. ▪ Strike price $1.10 per share. ▪ Options were issued to PL8 shareholders at IPO on a 1:1 basis. ▪ Shareholders are encouraged to determine if they own any PL8 options in case the options are in the money before t
Slide 10: PL8 NTA performance breakdown for 1HFY19
PL8 NTA performance breakdown for 1HFY19* For personal use only $1.15 $1.099 - $0.079 $1.10 Pre-Tax NTA per PL8 share $1.05 - - $0.001 -$0.030 $1.00 $0.989 $0.95 $0.90 Pre-tax NTA 1 Portfolio Tax provided Company Dividends paid Pre-tax NTA 31 Jul 2018 performance expenses Dec 2018 Source: Plato *exc
Slide 11: Plato Investment Management (Manager) Update
For personal use only Plato Investment Management (Manager) Update www.plato.com.au 10
Slide 12: 2018 – a challenging year for total returns but good year for active returns and income
2018 – a challenging year for total returns but good year for active returns and income For personal use only ▪ 2018 was tough for total returns with the market falling 8% in the final quarter on worries of: – rising interest rates; – reductions in global liquidity as quantitative easing unwound; –
Slide 13: Interest rate increases have vanished over the past months
Interest rate increases have vanished over the past 3 months Official RBA cash rate expectations For personal use only Source: Bloomberg, Macquarie Macro Strategy 7 Feb 2019 www.plato.com.au 12
Slide 14: Income is still hard to find
Income is still hard to find Plato forecast income 2019 for major asset classes For personal use only 7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% 1 Year Term Deposit 10 Year Australian MSCI World ex Aust AREITs Australian Shares Bonds (gross) Source: Plato, RBA, Bloomberg www.plato.com.au 13
Slide 15: Largest Contributors to Income
Largest Contributors to Income Year to 31 December 2018 For personal use only Top 10 Contributors to Excess Income (Last 12mths) Investment Reasoning Excess Income Return Capital Income Stock Yield Run up Value Momentum (%) (%) (%) (%) NAB 0.36 -9.0 -18.6 9.6 P P P Westpac 0.34 -11.6 -20.2 8.6 P P P
Slide 16: Largest Contributors to Active Performance
Largest Contributors to Active Performance Year to 31 December 2018 For personal use only Top 10 Contributors To Active Performance (Last 12mths) Investment Reasoning Active Return Capital Income Stock Performance Yield Run up Value Momentum (%) (%) (%) (%) BHP Billiton 0.69 23.4 15.7 7.7 P P P P Wo
Slide 17: Myer Holdings = Dividend Trap!
Myer Holdings = Dividend Trap! 16% Gross Historical Yield at 28th February 2018 For personal use only Source: Plato, Iress 16 www.plato.com.au 16
Slide 18: AMP = Dividend Trap!
AMP = Dividend Trap! 12% Gross Historical Yield at 31st July 2018 For personal use only Source: Plato, Iress 17 www.plato.com.au 17
Slide 19: ALP franking credit proposal update
ALP franking credit proposal update For personal use only ▪ ALP have proposed to eliminate the net refund of franking credits to Australian investors other than charities, endowments and Centrelink pensioners. ▪ Plato has participated in the current Parliamentary Inquiry, providing submissions and a
Slide 20: Outlook
Outlook For personal use only ▪ Interest rates to remain low with market now expecting no increases ▪ Outlook for dividends from Australian shares remains solid – We continue to expect the market to deliver around 6% gross yield – With buy-backs and specials to boost opportunities for income this fi
Slide 21: Questions
For personal use only Questions www.plato.com.au 20
Slide 22: Disclaimer
Disclaimer For personal use only This communication has been prepared by Plato Income Maximiser Limited ABN 63 616 746 215 (PL8). Nothing contained in this communication constitutes investment, legal, business, taxation or other advice. This communication is for general information only. The informa
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