Perpetual Equity Investment: PIC Investor Presentation – April 2022
Perpetual capital investment company ASX: PIC
Investor Presentation April 2022
This information has been prepared by Perpetual Investment Management Limited (PIML) ABN 18 000 866 535, AFSL 234426. PIML is the manager of Perpetual Equity Investment Company Limited (Company) (ASX: PIC) ACN 601 406 419. This presentation is in summary form and is not necessarily complete. It should be read in conjunction with other Company announcements filed from the Australian Securities Exchange, which are available atwww.asx.com.au.
The presentation is for general information only and is not intended to provide you with financial advice or to take into account your objectives, tax situation, financial situation or needs. You should review with a financial adviser whether the information is appropriate for your circumstances. To the extent permitted by law, no liability is accepted for any loss or damage arising from reliance on this information.
References to titles in this presentation are for illustrative purposes only and are not recommendations, and titles may or may not currently be held by the Company. Past performance is not indicative of future performance.
This presentation may contain information based on expectations, assumptions or projected and/or estimated results. These forward-looking statements are subject to a series of risk factors. The Company and PIML caution against making forward-looking statements, particularly in light of market uncertainty and volatility and the continued disruptions caused by COVID-19.
Although PIML has prepared this information based on its current knowledge and understanding and in good faith, there are risks and the uncertainties involved that could cause results to differ from forward-looking statements. Neither the Company nor PIML will be responsible for the accuracy and/or correctness of the information, or for any discrepancy between the information provided and actual results, and reserves the right to change its projections or other forward-looking statements from time to time. Neither the Company nor PIML undertakes to update any forward-looking statements to reflect events or circumstances after the date of this presentation, subject to disclosure obligations under applicable law and listing rules. ‘ASX.
Neither the Company, nor PIML nor any company of the Perpetual Group guarantees the performance or the yield of a investment made in the Company. Perpetual Group means Perpetual Limited ABN 86 000 431 827 and its subsidiaries.
Perpetual Equity Investment Company Limited (ASX: PIC)
Focus on value and quality is at the heart of our investment philosophy
• Provide a stream of income
• Provide long-term capital growth
• Exceed the S&P/ASX 300 Accumulation Index over minimum investment periods of 5 years
Investment guidelines Typically 20 – 40 listed securities 50% – 100% Australian securities 0% – 35% global securities 0% – 25% cash
1. Quality filters
• Quality company
• Conservative debt
• Sound management
• Recurring benefits
Backed by a large and experienced investment team of portfolio managers and analysts
PIC aims to provide a fully franked consistent revenue stream
4.3%1 annual dividend yield or 6.2%1 enlarged
We believe PIC’s dividend yield is favorable in the current market environment
28.9cps2 profit reserve
This gives confidence to our capital management
5.2 years2 dividend coverage
We believe this strengthens the company’s ability to provide sustainable income stream
Source: Perpetual Equity Investment Company Limited (PIC) as of December 31, 2021.
1 Yield is calculated on the basis of total dividends of 5.6 cents per share and the closing share price of $1.30 as of December 31, 2021. The plus yield takes into account franking credits at a rate of 30% tax.
2 Earnings reserve of $108.4 million as of December 31, 2021, or 28.9 cents per share. This represents a dividend cover of 5.2 years based on a total dividend payment of 5.6 cents per share per year. It does not take into account the payment of the interim dividend, any changes in share capital or options exercised in the future.
Return on investment
Provide long-term capital growth above the benchmark
As of February 28, 2022
2 years per year
3 years per year
5 years a year
7 years a year
Since the inception
PIC investment portfolio1 Net of fees, charges and before tax paid
S&P/ASX 300 Accumulation Index
Source: Perpetual Equity Investment Company Limited
1Returns were calculated on the growth of net tangible assets (NTA) after taking into account all operating expenses (including management fees) and assuming the reinvestment of dividends and excluding taxes paid. Any provisions for deferred taxes on unrealized capital gains or losses are excluded. Past performance is not indicative of future performance. The launch date is December 18, 2014. The performance of the Portfolio and the Index may not add up to the Excess Return due to rounding.
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