Christmas has come early for the bank’s shareholders with the decision to slightly increase the 2024 dividend – despite a single-digit decline in the net profit and cash earnings.
Beating the market benchmark is never easy, with 72 per cent of Australian actively managed global equity general funds trailing the S&P World Index in the six months to June 30, 2024. Domestic equity funds performed slightly better, albeit against a significantly lower bar set by the S&P/ASX 200 Index.
DNR’s Income Fund added to platforms
Australian equities investment manager, DNR Capital, today announced that the newly launched DNR Capital Australian Equities Income Fund is now available to financial advisers through three leading investment platforms – Macquarie Wrap, Netwealth and HUB24.
The fund, which is managed and led by chief investment officer Jamie Nicol and portfolio manager Scott Kelly, under the same investment guidelines as the underlying strategy, the Australian Equities Income Portfolio, seeks to provide income-seeking investors with a growing dollar income, which is becoming more important in the current low-interest-rate environment. Most importantly the fund is index-unaware, with substantial overweight and underweight positions compared to the S&P/ASX 200, ensuring that the portfolio is less reliant on the traditional financials and materials exposures.
The fund holds a portfolio of high-quality Australian companies and its aim is to provide sustainable and growing dividends over time. It has generated strong performance since its inception in March 2020 to 30 September 2020, having outperformed the S&P/ASX 200 Industrials Accumulation Index by 7.78%*.
Robert White, DNR Capital chief executive officer, said: “We are very pleased to see the increased interest in this fund by financial advisers. The fund was launched to provide a broader group of investors with access to our investment capabilities and the inclusion on these key platforms certainly achieves that objective.”
“We expect the appeal for this fund to grow in the current economic environment. A high conviction Fund, focused on sustainable and growing income generation, will increase the compound total return over time and will no doubt be attractive to retiree investors,” added Kelly.
Lonsec Research has awarded its highest rating – ‘Highly Recommended’ – to the DNR Capital Australian Equities Income Fund.
