Plato Income Maximiser delivers maiden results
Plato Income Maximiser has delivered its maiden results which include an accrued income of 1.7 per cent exceeding the benchmark and a net profit after income tax of $863,000.
Total shareholder returns for the period since it listed on 5 May to 30 June stood at -0.5 per cent, against the S&P200 benchmark which returned -2.3 per cent.
At the same time, the company’s total shareholder return (TSR) performance, including the value of options, was 0.6 per cent for those investors that have held shares since the Initial Public Offering (IPO), with the company’s options valued at 1.2 cents at 30 June.
Platos’ chairman, Jonathan Trollip, said: “The maiden results are an early indication that the company has made progress towards its investment objectives in its first two months of operation during a time of volatility in the Australian equity market.
“I’m please the company accrued income of 1.7 per cent during the period and is building this income before it commences paying dividends to shareholders.
“This measure indicates that the company generated more income than its benchmark.”
Plato’s managing director and chief investment officer, Don Hamson, stressed that the company’s actively diversified portfolio started achieving one of its objectives to accrue income in excess of its benchmark in its first two months of operation.
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