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Message from Sophia Rahmani, CEO & MD, Maple-Brown Abbott - COVID-19 (Coronavirus)
Message from Sophia Rahmani, CEO & MD, Maple-Brown Abbott - COVID-19 (Coronavirus)

Maple-Brown Abbott Diversified Investment Trust

Performance

Performance
(as at 29 Feb 2020)

Performance 1 mth % 3 mths % 1 yr % p.a. 3 yrs % p.a. 4 yrs % p.a. 5 yrs % p.a. Since inception % p.a. *
Fund ** -4.8 -3.7 3.9 4.5 7.1 3.8 8.9
Benchmark *** -4.3 -2.6 7.3 6.6 7.7 4.9 N/A

Performance chart
(as at 29 Feb 2020)

Data Source: Maple-Brown Abbott and Morningstar ****

Unit price as at 31 Mar 2020

Redemption price $ 1.8201

Net asset value $ 1.8230

Application price $ 1.8259

Contact us

Maple-Brown Abbott

invest@maple-brownabbott.com.au

Phone: +61 (0) 2 8226 6200

Fund update - February 2020

The Trust returned -4.8% in February, with weak performance across most asset classes somewhat offset by very high cash holdings. The Trust’s Australian equities holdings returned -9.1%, underperforming the benchmark. Our overweight holding in QBE Insurance Group (-1%) was a significant positive contributor to performance. The company released its 2019 full-year result during the month. Whilst it reported earnings in line with its December guidance, the market reacted positively to disclosure of a significant acceleration in premium rates in the 4th quarter which should support margins in 2020. Our overweight holding in Healius (+3%) also outperformed. The company received an indicative takeover offer from Partners Group at a material premium to the share price and the stock was further supported by the rotation into defensives. Our decision not to hold CSL (-1%) was the largest negative contributor to performance. The company delivered a solid half-year result, driven by strong performance from the core plasma business, albeit only in line with market expectations. Our resources holdings also contributed negatively, including overweight positions in Woodside Petroleum (-17%) and BHP Billiton (-15%). Underperformance reflected the emerging Coronavirus threat and its potential impact on Chinese and global growth. The Trust’s international equities holdings returned -5.6%, below the benchmark. The Trust’s A-REIT holdings returned -6.4%, underperforming the benchmark. The Trust’s fixed interest holdings returned 0.3%, also underperforming the benchmark. The Trust’s exposure to alternative assets, through its holding in the MBA Global Listed Infrastructure Fund, returned -4.6%, below its RBA cash rate benchmark return of 0.1%.

PERFORMANCE DISCLAIMER: Please note that the figures above represent past performance, and past performance is not a reliable indicator of future performance. Returns are volatile and may fluctuate quickly and significantly. Neither Maple-Brown Abbott Limited nor any other person makes any representation nor gives any guarantee as to the future performance or success of, the rate of income or capital return from, recovery of money invested in, or income tax or other taxation consequences of, any investment in the trusts shown on this website.

* Inception date is 31 May 1988.

** Total return is based on the movement in net asset value per unit plus distributions and is before tax and after all fees and charges. Imputation and foreign tax credits are not included in the performance figures.

*** The Index to 31 May 2008 is the Standard & Poor’s Multisector 80 Wholesale Index and from 1 June 2008 is the Morningstar Australia Fund Multisector Growth category average from 1 June '08.

**** © 2017 Morningstar, Inc. All rights reserved. Neither Morningstar, its affiliates, nor the content providers guarantee the data or content contained herein to be accurate, complete or timely nor will they have any liability for its use or distribution. Any general advice or ‘class service’ have been prepared by Morningstar Australasia Pty Ltd (ABN: 95 090 665 544, AFSL: 240892) and/or Morningstar Research Ltd, subsidiaries of Morningstar, Inc, without reference to your objectives, financial situation or needs. Refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/s/fsg.pdf. You should consider the advice in light of these matters and if applicable, the relevant Product Disclosure Statement before making any decision to invest. Our publications, ratings and products should be viewed as an additional investment resource, not as your sole source of information. Past performance does not necessarily indicate a financial product’s future performance. To obtain advice tailored to your situation, contact a professional financial adviser. Some material is copyright and published under licence from ASX Operations Pty Ltd ACN 004 523 782 ("ASXO").

About the Fund

Investment objective

The Fund aims to outperform the Morningstar Australia Fund Multisector Growth category average over rolling four-year periods.

Key benefits

  • The opportunity to invest in a fund managed by a team of experienced and dedicated investment professionals
  • Access to a diversified portfolio that aims to deliver long-term capital growth
  • Access to investment opportunities, markets, asset allocation and risk management techniques not generally available to individual investors
  • The potential to receive quarterly distributions
  • The potential for tax-effective income through access to franked dividends derived from the Australian equities holdings within the Fund

Fund facts
(as at 29 Feb 2020) Latest Fact Sheet

Fund size $ 288.3 Million
APIR code MPL0001AU
Inception date May 1988
Distribution frequency Quarterly
Unit pricing frequency Daily
Minimum initial investment $ 20,000
Minimum additional investment $ 5,000

Significant holdings
(Australian equities - as at 29 Feb 2020)

Australia & New Zealand Banking Gp
BHP Billiton
National Australia Bank
Origin Energy
QBE Insurance Group
Rio Tinto
Suncorp Group
Telstra Corporation
Westpac Banking Corporation
Woodside Petroleum

Asset allocation
(as at 29 Feb 2020)

Overseas equities weightings
(as at 29 Feb 2020)

Distributions

Distribution history

Here you will find the distribution history for the Fund.

Generally, the main components of distributions are dividends received, and interest, realised capital gains and other income derived by the Fund, less fees and expenses.

The distributions are expressed as cents per unit.

Date Cents per unit Div 12-H Summary Taxable Component Summary
31/12/2019 1.5000 ¢ Div 12-H Summary n/a
30/09/2019 1.0000 ¢ Div 12-H Summary n/a
30/06/2019 11.5236 ¢ Div 12-H Summary n/a
31/03/2019 1.5000 ¢ Div 12-H Summary n/a
31/12/2018 1.5000 ¢ Div 12-H Summary n/a

Download distribution history

Unit prices

Unit price history

Here you will find the unit price history for the Fund.

Date Redemption price Net asset value Application price
31/03/2020 $ 1.8201 $ 1.8230 $ 1.8259
30/03/2020 $ 1.8221 $ 1.8250 $ 1.8279
27/03/2020 $ 1.7845 $ 1.7874 $ 1.7903
26/03/2020 $ 1.8305 $ 1.8334 $ 1.8363
25/03/2020 $ 1.7963 $ 1.7992 $ 1.8021
24/03/2020 $ 1.7483 $ 1.7511 $ 1.7539
23/03/2020 $ 1.7018 $ 1.7045 $ 1.7072
20/03/2020 $ 1.7611 $ 1.7639 $ 1.7667
19/03/2020 $ 1.7512 $ 1.7540 $ 1.7568
18/03/2020 $ 1.7881 $ 1.7910 $ 1.7939

^ Ex price.

Download unit price history

Forms & reports

Forms & reports

Below is a range of important forms and reports that are available.

To invest with us you should ensure you have read the sure Statement (PDS), including the Additional Information Booklet (AIB), before completing the Initial Application.

The Fact Sheet will provide you with an update on the Fund including performance and positioning.

If you would like more information or have any questions, please contact us on 1300 097 995 or mba@unitregistry.com.au.

Invest now

Invest now

It is easy to invest with Maple-Brown Abbott, just follow the steps below.


Step 1: Read the current Product Disclosure Statement (PDS)

Carefully read the Product Disclosure Statement (PDS) including the Additional Information Booklet (AIB) to ensure that you understand how the product works and the risks involved.

Step 2: Make an Application

New investments can be made Online.



Investments can also be made using the forms below.

Step 3: Investment confirmation

Once your application and payment are received, you'll receive confirmation of your investment details.


Still need help?

If you have any questions, please contact us 1300 097 995 or mba@unitregistry.com.au.


BPAY®

Investing is easy with BPAY®

BPAY® is a secure payment facility that enables you to invest directly from your bank account into your Maple-Brown Abbott funds using your phone or internet banking service.

Why use BPAY® ?

BPAY® is an electronic funds transfer payment method, initiated by you, from your bank account to your Maple-Brown Abbott investment account. By using the convenience of phone or internet banking, BPAY® allows for the prompt (next business day) transfer of funds into your investment account.

Biller Code

The Biller Code for the fund is 310649

Note: by using a Biller Code to make a BPAY® deposit, you acknowledge you’ve received Product Disclosure Statements (PDSs) for the managed investments in your account and agree to receive PDSs (including information about significant events or matters affecting them) electronically via the MBA Online Portal.

Reference Number

When you start investing with Maple-Brown Abbott, you’ll be provided with an investor number. Use your investor number as your reference when making payments via BPAY®.

Using BPAY®

To invest in a Maple-Brown Abbott fund using BPAY® you need a Biller Code and Reference Number.

If you’d like to make a payment to this fund Biller Code Reference Number
Maple-Brown Abbott Diversified Investment Trust 310649 Your investor number

How do I start using BPAY®?

  • Register with your financial institution’s phone and/or internet banking service.
  • Obtain your BPAY® Biller Code and Reference Number.
  • Contact your financial institution via phone or internet banking and provide the required security details (such as password and user ID).
  • Follow the prompts for the BPAY® payment facility. You’ll need to provide your unique BPAY® Biller Code and Reference Number, and payment amount and the bank account from which your payment is to be made.
  • The details of the transaction will be repeated back or displayed for you and you’ll be prompted to confirm the payment.
  • You’ll then be given a receipt number for your reference.
  • You also need to ensure the BPAY® deposit matches the online instructions given to your financial adviser (for example, correct Biller Code, and the payment type and deposit amounts are the same). If the instructions don’t match, we may not be able to match the payment to the deposit and it may be allocated as per the default investment instructions and up-front fee specified on your account.

Note: instructions submitted by your financial adviser online only remain valid for 30 days, so you need to ensure a BPAY® deposit is transferred within this time frame.

BPAY® deposit limits

Daily BPAY® transfer limits are enforced by all financial institutions. You’ll need to check with your financial institution to obtain the daily transaction limit for your account.

How is my BPAY® deposit invested in my MBA investment account?

BPAY® deposits are automatically allocated to your Maple-Brown Abbott investment account on the next working day.

Will I receive confirmation?

Your financial institution will give you a receipt number which confirms it has identified and authorised the BPAY® payment instruction. You should keep this for future reference. You can also check the MBA Online Portal to confirm the transaction has been made.

Fees And Costs

Management Costs *

Base
Fee
% 1 & 2
Indirect
Costs
% 3 & 4
Recoverable
Expenses
% 3 & 5
Total

%
0.89 0.06 0.01 0.96

1) Unless otherwise stated, all fees are quoted on a GST inclusive basis and net of any applicable Reduced Input Tax Credits.


2) The base fee is the fee we charge for managing the assets and overseeing the operations of the Fund, expressed as a percentage of the net asset value of the Fund. The Fund invests part of its assets in other funds which we manage. Base fees in those funds are either rebated or not charged, in respect of an investment by the Fund to avoid double counting of fees in respect of those underlying funds.


3) All other components of the management costs are based on the indirect costs and recoverable expenses incurred during the prior financial year ended 30 June.


4) Indirect costs are any amounts reflected in the value of the Fund's investments that we know or estimate will reduce the Fund's returns, other than the base fee, recoverable expenses and transactional and operational costs. The indirect costs represent the fees paid to external managers of the individually managed portfolios in the Maple-Brown Abbott International Equity Trust.


5) Under the Fund’s Constitution we are entitled to be reimbursed for authorised expenses incurred in managing and administering a Fund, however at present we have chosen not to be reimbursed for routine fund expenses including registry, custodian, accounting and legal expenses (excluding transaction costs) which are paid by us out of our base fee. Audit costs are paid, and any levy payable to the Australian Securities and Investments Commission (ASIC) may be paid, out of the Fund.


* Fees may be negotiated if you are a wholesale investor as defined in the Corporations Act 2001 (Cth).



Transactional and Operational Costs

Total transactional and
operational costs
% 1
Less buy-sell
spread recovery
% 2
Net transactional and
operational costs
%
3
0.07 0.02 0.05

1) Transactional and operational costs represent the estimated costs from the Fund’s investing activities. These costs are in addition to the management costs. The transactional and operational costs are reflected in the unit price and impact the performance of the Fund. These costs include brokerage, settlement costs, clearing costs, stamp duty and other taxes on an investment transaction. It also includes the difference between the price paid for purchasing securities and the price that would be payable if selling securities (i.e. bid/ask spread).


2) Buy-sell spread recovery represents the amount charged to investors that relates to investor applications and withdrawals.


3) Based on the estimated costs incurred during the prior financial year ended 30 June, expressed as a percentage of the average Fund net asset value.



Buy / Sell Spreads *

Total spread
%
0.16 / 0.16

* The buy-sell spread is an additional cost to you. This ensures existing investors are not disadvantaged due to the costs associated with buying or selling the Fund’s investments as a result of applications and withdrawals.