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BetaShares Legg Mason Equity Income Fund (managed fund)
Opportunity to earn an attractive and growing income stream, paid quarterly, from an actively managed portfolio of high-yielding, high-quality Australian shares.
OVERVIEW
Fund Objective
EINC invests in an actively managed portfolio of income-oriented Australian shares that aims to generate an after-tax yield higher than that produced by the S&P/ASX 200 Index, and to grow that income above the rate of inflation. The Fund is managed by Martin Currie, a leading equities manager and affiliate of Legg Mason.
Benefits of EINC
Attractive income from quality companies
The Fund actively selects quality Australian companies paying attractive income, and with the potential for long-term income growth.
Simple investment strategy, tax efficient
EINC invests only in high-quality shares and does not use derivatives to generate income. Also, the Fund aims to maximise the benefits of franking credits for investors.
Lower volatility
The Fund’s active management approach targets lower portfolio volatility than the S&P/ASX 200 Index and less concentrated stock and sector exposures.
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.
KEY FACTS
Pricing Information 13 July 2020
| Current Price | |
|---|---|
| Last Trade* | - |
| % Change (prev day) | - |
| Bid (delayed) | - |
| Offer (delayed) | - |
|
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
|
$7.190 |
*Data is delayed by at least 20 minutes.
* As at 10 July 2020 04:29 PM
Download NAV history
| NAV | |
|---|---|
| NAV/Unit * | $7.22 |
* As at 9 July 2020
Profile
| Net Assets* ($A) | $24,719,557 |
| Units Outstanding* (#) | 3,422,077 |
| 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 9 July 2020
* As of close of previous day
**Certain additional costs apply. Please refer to PDS.
**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.
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6.2% |
|
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 June 2020
Portfolio Holdings
| Name (in alphabetical order) |
|---|
| AGL ENERGY LTD |
| AURIZON HOLDINGS LTD |
| AUSTRALIA & NEW ZEALAND BANKING |
| BHP GROUP LTD |
| COLES GROUP LTD |
| JB HI-FI LTD |
| MEDIBANK PVT LTD |
| NATIONAL AUSTRALIA BANK LTD |
| TELSTRA CORP LTD |
| WESFARMERS LTD |
* As at 30 June 2020
Sector Allocation
| Non-bank financials | 15.6% |
| Consumer Discretionary | 15.3% |
| Banks | 14.1% |
| Consumer Staples | 12.0% |
| Communication Services | 10.3% |
| Utilities | 8.4% |
| Real Estate | 7.2% |
| Industrials | 6.6% |
| Metals & Mining | 6.2% |
| Other | 4.4% |
* As of 30 June 2020
PERFORMANCE
Fund Returns After Fees (%)
| Fund | ||
|---|---|---|
| 1 month | 2.52% | - |
| 3 months | 15.88% | - |
| 6 months | -13.67% | - |
| 1 year | -10.79% | - |
| 3 year p.a | - | - |
| 5 year p.a | - | - |
| Since inception (p.a) | -0.71% | - |
| Inception date | 13-Feb-18 | - |
* As at 30 June 2020
Chart
Chart Type
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.
DISTRIBUTIONS
Yield Information
| Distribution Frequency | Quarterly |
| 12 Mth Distribution Yield* (%) | 5.2% |
| 12 Mth Gross Distribution Yield* (%) | 7.4% |
| Franking Level | 96.0% |
*As at 30 June 2020. 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-Jul-20 | 2-Jul-20 | 16-Jul-20 | $0.03549 | 3.26% |
| 1-Apr-20 | 2-Apr-20 | 20-Apr-20 | $0.07947 | 3.92% |
| 2-Jan-20 | 3-Jan-20 | 17-Jan-20 | $0.0706 | 5.30% |
| 1-Oct-19 | 2-Oct-19 | 16-Oct-19 | $0.09842 | 5.04% |
| 1-Jul-19 | 2-Jul-19 | 16-Jul-19 | $0.13062 | 4.75% |
| 1-Apr-19 | 2-Apr-19 | 16-Apr-19 | $0.07061 | 4.04% |
| 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 | - |
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(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.
RESOURCES
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Factsheet - EINC |
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Fund Flyer - EINC |
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Product Brochure - EINC |
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Equity Income - a multi-decade theme |
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EINC - income for growth |
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Product Disclosure Statement - EINC |
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Annual Report - June 2019 |
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LM NRWT and Fund Payment Notice information - March 2020 distributions |
Download
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LM NRWT and Fund Payment Notice information - December 2019 distributions |
Download
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NRWT and Fund Payment Notice information - September 2019 distributions |
Download
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NRWT and Fund Payment Notice information - June 2019 distributions |
Download
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Interim Financial Report 2018 |
Download
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2020 Legg Mason Distribution Calendar |
Download
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