Perennial Value Shares For Income Trust aims provide investors with an attractive level of tax effective income. The portfolio invests in a well-diversified range of publicly listed companies listed (or soon to be listed) on the ASX, which we believe have sustainable operations and collectively offer a superior dividend yield (when taking into account franking credits) to the overall market. It aims to provide a dividend yield, adjusted for applicable franking credits and before fees, above that provided by the S&P/ASX 300 Accumulation Index.
During the month, we exited our holdings Wesfarmers, Kathmandu and Perpetual, all of which are facing a more challenging environment. Proceeds were used to increase holdings in the banks and miners. At month end, stock numbers were 29 and cash was 5.4%.
What is Perennial Value Shares for Income Trust Perennial Value Shares for Income Trust is an Managed Funds investment product that is benchmarked against ASX Index 200 Index and sits inside the Domestic Equity - Large Value Index. Think of a benchmark as a standard where investment performance can be measured. Typically, market indices like the ASX200 and market-segment stock indexes are used for this purpose. The Perennial Value Shares for Income Trust has Assets Under Management of 20.01 M with a management fee of 0.92%, a performance fee of 0.00% and a buy/sell spread fee of 0.6%.
How has the investment product performed recently?
The recent investment performance of the investment product shows that the Perennial Value Shares for Income Trust has returned 3.79% in the last month. The previous three years have returned 9.1% annualised and 13.91% each year since inception, which is when the Perennial Value Shares for Income Trust first started.
How is risk measured in this investment product?
There are many ways that the risk of an investment product can be measured, and each measurement provides a different insight into the risk present. They can be used on their own or together to perform a risk assessment before investing, but when comparing investments, it is common to compare like for like risk measurements to determine which investment holds the most risk. Since Perennial Value Shares for Income Trust first started, the Sharpe ratio is NA with an annualised volatility of 13.91%. The maximum drawdown of the investment product in the last 12 months is -2.68% and -45.57% since inception. The maximum drawdown is defined as the high-to-low decline of an investment during a particular time period.
What is the relative performance of the investment product?
Relative performance is what an asset achieves over a period of time compared to similar investments or its peers. Relative return is a measure of the asset's performance compared to the return to the other investment. The Perennial Value Shares for Income Trust has a 12-month excess return when compared to the Domestic Equity - Large Value Index of 1.46% and -0.69% since inception.
Does the investment product produce Alpha over its Peers?
Alpha is an investing term used to measure an investment's outperformance relative to a market benchmark or peer investment. Alpha describes the excess return generated when compared to peer investment. Perennial Value Shares for Income Trust has produced Alpha over the Domestic Equity - Large Value Index of NA% in the last 12 months and NA% since inception.
What are similar investment products?
For a full list of investment products in the Domestic Equity - Large Value Index category, you can click here for the Peer Investment Report.
What level of diversification will Perennial Value Shares for Income Trust provide?
Perennial Value Shares for Income Trust has a correlation coefficient of 0.97 and a beta of 0.88 when compared to the Domestic Equity - Large Value Index. Correlation measures how similarly two investments move in relation to one another. This establishes a 'correlation coefficient', which has a value between -1.0 and +1.0. A 100% correlation between two investments means that the correlation coefficient is +1. Beta in investments measures how much the price moves relative to the broader market over a period of time. If the investment moves more than the broader market, it has a beta above 1.0. If it moves less than the broader market, then the beta is less than 1.0. Investments with a high beta tend to carry more risk but have the potential to deliver higher returns.
How do I compare the investment product with its peers?
For a full quantitative report on Perennial Value Shares for Income Trust and its peer investments, you can click here for the Peer Investment Report.
How do I compare the Perennial Value Shares for Income Trust with the ASX Index 200 Index?
For a full quantitative report on Perennial Value Shares for Income Trust compared to the ASX Index 200 Index, you can click here.
Can I sort and compare the Perennial Value Shares for Income Trust to do my own analysis?
To sort and compare the Perennial Value Shares for Income Trust financial metrics, please refer to the table above.
Has the Perennial Value Shares for Income Trust been independently verified by SMSF Mate?
This investment product is in the process of being independently verified by SMSF Mate. Once we have verified the investment product, you will be able to find more information here.
How can I invest in Perennial Value Shares for Income Trust?
How do I get in contact with the Perennial Value Shares for Income Trust?
Comments from SMSF Mates
SMSF Mate does not receive commissions or kickbacks from the Perennial Value Shares for Income Trust. All data and commentary for this fund is provided free of charge for our readers general information.
Performance Commentary - August 31, 2023 During the month, we exited our holding in United Malt, selling it into the takeover bid. Proceeds were used to establish a new position in Computershare, which is benefitting from ongoing higher interest rates and from the expected pick up in corporate activity. At month end, stock numbers were 32 and cash was 2.3%.
Performance Commentary - July 31, 2023 During the month, we increased our holdings in CBA, reducing our underweight following a period of underperformance by the banks. The sector is likely to perform better on the back of improved sentiment to the macroeconomic outlook. At month end, stock numbers were 32 and cash was 4.8%.
Performance Commentary - June 30, 2023 During the month, we trimmed our bank holdings and added to our REIT exposure, establishing positions in Dexus and GPT. These are now offering reasonable value following a period of significant underperformance. At month end, stock numbers were 32 and cash was 4.5%.
Performance Commentary - May 31, 2023 During the month, we took profits and exited our holding in Qantas. Proceeds were used to increase our holdings in the major banks ahead of their dividend paying period. At month end, stock numbers were 30 and cash was 2.6%.
Performance Commentary - April 30, 2023 During the month, we reduced our holdings in the bulk miners and increased our holdings in the major banks ahead of their dividend paying period. At month end, stock numbers were 31 and cash was 10.3%.
Performance Commentary - March 31, 2023 During the month, we added to our major bank holdings, following their recent underperformance and exited our holdings in Transurban and Incitec Pivot. At month end, stock numbers were 31 and cash was 5.2%.
Performance Commentary - February 28, 2023 During the month, we reduced our holdings in the major banks and reinvested the proceeds into defensive names such as Woolworths, Coles and Telstra. At month end, stock numbers were 33 and cash was 2.6%.
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