BetaShares Legg Mason Equity Income Fund

OVERVIEW

About

Aims to provide an attractive and growing income stream by investing in an actively-managed diversified portfolio of high quality income-oriented Australian shares.

Active stock selection and relatively low single stock and sector concentration provides the potential for lower volatility than the broad sharemarket.
Employs a simple investment strategy – investing only in high quality Australian shares and avoiding structured securities, the Fund optimises for after-tax income, and aims at maximising franking credits for investors.
Investors benefit from a disciplined portfolio construction approach by an experienced and award winning investment manager – Martin Currie.

Advantages

Attractive income, quality companies – Aims to deliver attractive and sustainable income paid quarterly by investing in high-quality Australian companies
Diversified income stream – Natural dividend growth combined with active selection of quality companies that have the potential for long-term income growth
Lower volatility than the sharemarket – Potential for lower volatility than the broad sharemarket through active stock selection and reduced stock and sector concentration
After-tax efficiency – Low turnover strategy seeks to extract full benefits of franking credits and maximise after tax income for 0% tax payers

How to Invest

You can buy or sell units just like you’d buy or sell any share on the ASX
Fund requires no minimum investment

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KEY FACTS

Pricing Information 19 October 2019

Current Price
Last Trade*	$8.66
% Change (prev day)	0%
Bid (delayed)	$8.30
Offer (delayed)	$8.83
iNAV (live)** iNAV stands for Indicative Net Asset Value. It is updated every 60 seconds and provides an estimate of the net asset value of the Fund during the trading day	$8.597

*Data is delayed by at least 20 minutes.

* As at 18 October 2019 04:29 PM

Download NAV history

NAV
NAV/Unit *	$8.62

* As at 17 October 2019

Profile

Net Assets* ($A)	$23,738,690
Units Outstanding* (#)	2,752,607
Mgmt Costs** (% p.a.)	0.85%
Distribution Frequency	Quarterly
Distribution Reinvestment Plan (DRP)	Full or partial participation available
Issuer	BetaShares Capital Ltd
Investment Manager	Legg Mason Asset Management Australia Limited
Fund Administrator	RBC Investor Services
Custodian	RBC Investor Services
Registry	Link Market Services
Auditor	KPMG

* As at 17 October 2019

* As of close of previous day
**Certain additional costs apply. Please refer to PDS.

Trading Information

ASX Code	EINC
Bloomberg Code	EINC AU
IRESS Code	EINC.AXW
Trading Hours	10:00-16:00 (AEST)
iNAV IRESS Code	EINCINAV.ETF
SMSF Eligible	Yes

Index Information

Index	N/A
Index Provider	N/A
Index Ticker	N/A
Bloomberg Index Ticker	N/A

Portfolio Characteristics

Forecast Gross Portfolio Yield (%)

Yield forecast calculated using the weighted average of broker consensus forecasts of each portfolio holding and research conducted by Legg Mason Australia, is gross of franking credits and excludes Active ETF fees and costs. Actual fund yield may differ due to various factors, including changes in the number of units on issue, and not all investors will be able to receive the full value of franking credits. Neither the yield forecast nor past performance is a guarantee of future results.

6.3%

Forecast Net Portfolio Yield (%)

Yield forecast calculated using the weighted average of broker consensus forecasts of each portfolio holding and research conducted by Legg Mason Australia, and excludes Active ETF fees and costs. Actual fund yield may differ due to various factors, including changes in the number of units on issue. Neither the yield forecast nor past performance is a guarantee of future results.

4.7%

As at 30 September 2019

Portfolio Holdings

Name (in alphabetical order)
AGL ENERGY LTD
AUSTRALIA & NEW ZEALAND BANKIN
COCA-COLA AMATIL LTD
COLES GROUP LTD
INSURANCE AUSTRALIA GROUP LTD
JB HI-FI LTD
NATIONAL AUSTRALIA BANK LTD
TELSTRA CORP LTD
WESFARMERS LTD
WOODSIDE PETROLEUM LTD

* As at 30 September 2019

Sector Allocation

Banks	15.9%
Consumer Discretionary	15.6%
Consumer Staples	14.4%
Non-bank financials	12.6%
Communication Services	9.9%
Utilities	8.3%
Energy	6.7%
Industrials	5.8%
Real Estate	5.4%
Other	5.3%

* As of 30 September 2019

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PERFORMANCE

Fund Returns After Fees (%)

	Fund	Index
1 month	2.31%	1.83%
3 months	4.76%	2.34%
6 months	11.01%	10.49%
1 year	11.74%	12.41%
3 year p.a	-	-
5 year p.a	-	-
Since inception (p.a)	9.25%	13.66%
Inception date	13-Feb-18	-

* As at 30 September 2019

Chart

Past performance is not an indicator of future performance. Returns are calculated in Australian dollars using net asset value per unit at the start and end of the specified period and do not reflect brokerage or the bid ask spread that investors incur when buying and selling units on the ASX. Returns are after fund management costs, assume reinvestment of any distributions and do not take into account tax paid as an investor in the Fund. Returns for periods longer than one year are annualised. Current performance may be higher or lower than the performance shown.

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DISTRIBUTIONS

Yield Information

Distribution Frequency	Quarterly
12 Mth Distribution Yield* (%)	4.1%
12 Mth Gross Distribution Yield* (%)	5.8%
Franking Level	95.8%

*As at 30 September 2019. Yield figures are calculated by summing the prior 12 month net and gross fund per unit distributions divided by the fund closing NAV per unit. Franking level is total franking level over the last 12 months. Past performance is not an indicator of future performance.

Recent Distributions

Ex Date	Record Date	Payment Date	Distribution Unit ($)	Annual Distribution Return (%) (1)
1-Oct-19	2-Oct-19	16-Oct-19	$0.09842	5.04%
1-Jul-19	2-Jul-19	16-Jul-19	$0.13062	4.77%
1-Apr-19	2-Apr-19	16-Apr-19	$0.07061	4.06%
2-Jan-19	3-Jan-19	17-Jan-19	$0.07262	-
1-Oct-18	2-Oct-18	16-Oct-18	$0.08964	-
2-Jul-18	3-Jul-18	17-Jul-18	$0.07785	-

⁽¹⁾ This is the annual distribution return to the end of the relevant distribution date. The distribution return reflects the contribution to total investment return made by the Fund's distributions. It is calculated as the difference between total Fund return and NAV return. NAV return is the change in the Fund's NAV price. Total return is the NAV return plus reinvestment of all distributions back to the Fund. Past performance not indicative of future performance.

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ANNOUNCEMENTS

ASX Announcements: EINC

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RESOURCES

	Factsheet - EINC	Download
	Fund Flyer - EINC	Download
	Product Brochure - EINC	Download
	Equity Income - a multi-decade theme	Download
	EINC - income for growth	Download
	Product Disclosure Statement - EINC	Download
	Annual Report - June 2019	Download
	NRWT and Fund Payment Notice information - September 2019 distributions	Download
	NRWT and Fund Payment Notice information - June 2019 distributions	Download
	NRWT and Fund Payment Notice information – March 2019 distributions	Download
	NRWT and Fund Payment Notice information – November 2018 distributions	Download
	Interim Financial Report 2018	Download

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