Share price as at
Registry LOGINCompany overview
QVE is a listed investment company that aims to provide a regular income stream for investors, as well as long-term capital growth, through a diversified portfolio of high-quality, good-value companies listed outside the ASX Top 20.
- Suitable for: investors wanting to achieve long term value via a combination of income and capital growth.
- Invests in: 20-50 ASX listed companies outside the S&P/ASX 20 Index
- Investment timeframe: 5+ years
- Investment objectives: generate net returns higher than the S&P/ASX 300 Accumulation Index, excluding the S&P/ASX20 Accumulation Index (the top 20 stocks), over a 5+ year investment horizon.
Company facts
| Portfolio managers | Simon Conn and Marc Whittaker |
| Benchmark | S&P/ASX 300 Ex20 Accumulation Index |
| Inception | Listing | 22 August 2014 |
| Market code | QVE (ASX) |
| Dividend frequency | Quarterly |
| Management fee | 0.90% p.a. of the NAV up to $150m; 0.75% p.a. over $150m |
| Peformance fee | Nil |
| FY23 gross yield (includes franking credits) | 7.9% (Past performance is not a reliable indicator of future performance. Calculated on the closing share price on 30 June, 2023) |
Portfolio performance
| 1mth | 3mth | 6mth | 1yr | 2yrs^ | 3yrs^ | 5yrs^ | 10yrs^ | Since inception^ |
|
|---|---|---|---|---|---|---|---|---|---|
| Total Return | -1.4% | -6.1% | -0.6% | 3.7% | 4.0% | 3.2% | 3.0% | - | 5.2% |
| Benchmark* | -0.8% | -4.3% | 3.7% | 7.5% | 11.1% | 4.0% | 5.9% | - | 8.4% |
^ Performance per annum
* The benchmark for this fund is the S&P/ASX 300 Ex20 Accumulation Index.
The above returns are after fees, assume all declared dividends are reinvested, and excludes tax paid. Past performance is not a reliable indicator of future performance.
Sector and stocks
| Company Name | ASX code | Sector | % weight |
|---|---|---|---|
| Aurizon Holdings Limited | AZJ | Industrials | 5.1% |
| APA Group | APA | Utilities | 4.2% |
| Amcor PLC | AMC | Materials | 4.1% |
| Sonic Healthcare Limited | SHL | Health Care | 4.0% |
| Ampol Limited | ALD | Energy | 3.4% |
| Orica Limited | ORI | Materials | 2.9% |
| Charter Hall Retail REIT | CQR | Real Estate | 2.3% |
| Brambles Limited | BXB | Industrials | 2.2% |
| Virgin Money Uk PLC | VUK | Financials | 2.1% |
| Santos Limited | STO | Energy | 2.1% |
Fund holdings as at 30 Jun 2024
Prices
Net Tangible Assets (NTA)*per share
| Date | NTA before tax | NTA after tax |
|---|---|---|
| 21 Jun 2024 | $1.01 | $1.05 |
| 14 Jun 2024 | $0.99 | $1.04 |
| 07 Jun 2024 | $1.00 | $1.05 |
| 31 May 2024 | $1.00 | $1.04 |
| 24 May 2024 | $1.01 | $1.05 |
*The before and after tax NTA numbers relate to the provision for tax on net profit in addition to deferred tax on the unrealised gains/losses in the Company’s investment portfolio. The Company is a long-term investor and does not intend disposing of its total portfolio. Under current accounting standards, the Company is required to provide for tax on any gains/losses that might arise on such a theoretical disposal, after utilisation of brought forward losses. All figures are unaudited and approximate.
Net Tangible Assets before tax (NTA)* per share of the company since its listing on 22 August 2014.
Past performance is not a reliable indicator of future performance. *All figures are unaudited and approximate.
Source: ASX via WebLink IR. Share prices are delayed 20 minutes.
Dividend information
Relevant dates for the interim dividend are listed below:
• Ex-Dividend Date: 14 May 2024
• Dividend Record Date: 15 May 2024
• Dividend Payment Date: 31 May 2024
| Financial Year | Period | Amount (cents per share) | Ex-Dividend Date | Payment Date |
|---|---|---|---|---|
| 2024 | March Quarter 2024 | 1.30 | 14/05/2024 | 31/05/2024 |
| 2024 | December Quarter 2023 | 1.30 | 13/02/2024 | 01/03/2024 |
| 2024 | September Quarter 2023 | 1.30 | 14/11/2023 | 01/12/2023 |
| 2023 | June Quarter 2023 | 1.30 | 15/08/2023 | 01/09/2023 |
| 2023 | March Quarter 2023 | 1.30 | 16/05/2023 | 02/06/2023 |
| 2023 | December Quarter 2022 | 1.30 | 14/02/2023 | 03/03/2023 |
| 2023 | September Quarter 2022 | 1.30 | 15/11/2022 | 02/12/2022 |
| 2022 | June Quarter 2022 | 1.20 | 15/08/2022 | 02/09/2022 |
Past performance is not a reliable indicator of future performance as a result past dividends are not indicative of future dividends.
Past performance is not a reliable indicator of future performance as a result past dividends are not indicative of future dividends.
Ratings and awards
Zenith - Recommended
Independent Investment Research - Recommended Plus
How to invest
QV Equities Limited (ASX: QVE) is an investment company listed on the Australian Securities Exchange (ASX).
Investors can become shareholders by purchasing QVE shares as you would any listed security – through your broker, financial adviser, or your online brokerage account or platform. You can find out more on the ASX website.
The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) (“Zenith”) rating (assigned 27 February 2024) referred to in this document is limited to “General Advice” (s766B Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual and is subject to change at any time without prior notice. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at http://www.zenithpartners. com.au/RegulatoryGuidelines
The Independent Investment Research research rating requires to be read with the full research report that can be found on the issuers website (or upon request) together with our full disclaimer that is found on the front cover of our research note. We require readers of our research note to obtain advice from their wealth manager before making any decisions with respect to the recommendation on this note. The note is not general advice just financial information without having regard too the financial circumstances of the reader.
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