Premium Investors Limited (PRV) is pleased to announce it has been awarded a ‘recommended’ rating by Zenith Investment Partners.
PRV Chairman Mr Tom Collins, said; “The Board of Premium is very pleased to have achieved this rating from Zenith. ‘Recommended’ products are deemed strong investments within their respective asset class and this rating represent Zenith’s conviction of the ability of PRV to achieve its goals.”
The Zenith rating was based on PRV as a potentially suitable investment for those seeking a diversified, multi-manager offering with the flexibility of a listed exposure through the LIC structure.
According to Zenith, the broad exposure to equities asset classes, managers, sectors and investment styles makes PRV ideal for those investors with small to moderate investment amounts that are seeking a well balanced investment split between Australian and global equities.
Mr Collins said the rating also reflects the outlook of Shareholders, who voted in favour of the continuation of the Company’s business in its current form at the Premium AGM, which took place on Wednesday.
“Premium’s key numbers for financial year 2011 showed a strong balance sheet and a good performance over the past year. PRV remains an attractive investment opportunity, despite a difficult financial year.”
“The continuing volatility of global equities markets, the strong Australian dollar, and a high level of caution amongst investors hadmade it a difficult year for fund management. “However, Premium has emerged from this period in great shape as the Board continuous to focus on the provision of a high-yielding, well-diversified investment product,” he said.
Mr Collins added; “Specifically tailored for individuals and self managed super funds, we hold multiple managers to achieve greater diversification of investment styles across both Australian and Global markets. This has helped to reduce volatility of the overall portfolio value.”
Mr Collins confirmed that Premium continues to deliver attractive capital growth; “The Company has delivered a total return to Shareholders of over 11.8% for the twelve months since August 2010 including a steady stream of fully franked dividends facilitating an attractive and competitive dividend yield to investors.”
Premium Key Points for the FY-2011
- Net profit after tax for the year ended 30 June 2011 of $8.04m
- 15.9% total return (including dividends) vs 11.9% for the ASX 300
- 9.4% dividend yield fully franked
- Reduced cost base with a focus on management cost savings and improved structural efficiencies
- +3.5% added value of the portfolio against the Benchmark
- 20% reduction in the discount of PRV’s share price to its NTA
- Management Expense Ratio (MER) has been halved.