General Information

CFS FC W Pen-Merlon W Aus Share Income
Colonial First State Investments Limited
FSF0950AU
Equity Australia Derivative Income
starstarstarstar (as at 31 Jan 2017)
Allocated Pension
19 May 2008
$34.26 million (as at 31 Jul 2017)
$1.8954 (as at 17 Aug 2017)
$1.8878 (as at 17 Aug 2017)

Fund performance (31 Jul 2017)

NOTE : returns for periods greater than 1 year are annualised
  1 Month % 3 Month % 6 Month % 1 Year % p.a. 2 Year % p.a. 3 Year % p.a. 5 Year % p.a. 10 Year % p.a.
Total return 1.26 2.55 6.41 12.65 10.25 8.58 12.24 -
Growth return 1.26 2.55 6.41 12.65 10.25 8.58 - -
Income return 0 0 0 0 0 0 - -

Market index (S&P/ASX 200 TR AUD)

Total return -0.01 -2.59 3.97 7.33 4.82 5.11 10.88 3.83

Asset Allocation (31 Jul 2017)

Australian Equities 97.11%
International Equities 0%
Cash 2.89%
Property 0%
Fixed Interest 0%
Alternatives 0%
Asset Allocation

Objectives and Strategy

To provide a higher level of tax-effective income, predominantly from franked dividends, with a lower level of risk than the S&P/ASX 200 Accumulation Index whilst also providing the potential for capital growth and inflation protection over rolling three-year periods before fees and taxes.
Merlon's investment approach is to construct a portfolio of undervalued companies, based on sustainable free cash flow, in broadly equal weights whilst using options to overlay downside protection on holdings with poor short-term momentum characteristics. An outcome of the investment style is a higher level of tax-effective income along with the potential for capital growth over the medium-term.

Offer information

Indirect Cost Ratio (ICR) 1.20% (as at 22 May 2017) (Estimated)
Minimum initial investment $20,000
Minimum additional investments
Minimum redemption amount

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