InvestSMART is required to pay out any income plus franking in the financial year it is earned. The Fund is expected to pay two distributions each year – in February for the December half year and in July for June half year. We will advise franking details with each distribution and provide a tax statement at the conclusion of the Financial Year. InvestSMART expects that distributions of income will be 80-100% franked.
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Investing with Us
InvestSMART Ethical Share Fund (ASX: INES)
Yes. INES will come on to the market at $2.50. InvestSMART will cover all associated listing costs.
We expect the fund to trade at NAV (Net Asset Value), e.g. if the NAV of the fund is $2.60, we expect to see the bid price at $2.595 and the offer price at $2.605 on the ASX. As the issuer of the fund, InvestSMART will make sure that the ASX prices accurately reflect the NAV. We will also publish on our website an “indicative” NAV throughout the trading day that will estimate the NAV every 15 seconds.
The distribution will be twice a year after the end of financial year and calendar year. The distribution is made up of all income received by the Fund. This includes dividends paid, interest earned on cash and realised capital gains.