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Mirrabooka Investments

Fund Manager: Mirrabooka Investments
Inception Date: Jun 01, 2001

Small cap specialist fund manager Mirrabooka Investments has taken advantage of the government’s new lower corporate tax rate by increasing the amount of money it shells out to shareholders. The ASX-listed investment company (MIR) has become one of the first listed Australian companies to frank its shareholder payouts at the government’s new lower corporate tax rate of 27.5 per cent, which the Turnbull Government passed into law earlier this calendar year. “The directors have taken this new rate into consideration when setting the dividend,” Mirrabooka managing director Ross Barker said. Mirrabooka manages around $172 million in investments in Australian companies. The fund manager, which is managed by the Australian Foundation Investment Company, on Wednesday announced a 14 per cent slide in net profit for the past financial year to $7.6 million. [More]

Mirrabooka profit down

Money Management - Feb 13, 2017

Mirrabooka Investments Limited, an investor in mid and small cap companies, saw a profit drop to $3.9 million for the six months to December against $5 million last year, due to contribution of the trading and option portfolios which also saw a loss. According to the company, its short-term portfolio was below its mid and small cap benchmark as the firm had few investments in the resource sector.  The landscape in this period was dominated by two themes: a relatively strong performance of the mid and small cap resources sectors and a rotation by the market out of highly priced mid and small industrial companies, many of which had been priced for perfection, back to larger companies which until recently had underperformed, Mirrabooka said.    [More]

Mirrabooka Investments Limited (MIR) has kicked off the Listed Investment company (LIC) reporting season with a weak 20.4% slide in interim profit to $3.9 million compared to the previous corresponding period. The fall was principally due to lower returns from the company’s trading portfolio during the half year. The company said revenue from operating activities was $5.1 million, down 4.0% on the previous corresponding period. This excludes capital gains on investments. Despite the fall, directors have kept interim dividend at 3.5 cents a share fully franked. [More]

Mirrabooka Investments Limited managing director Ross Barker says mounting investor nerves over what will happen after Donald Trump's inauguration may present buying opportunities for unruffled buyers. "We believe there will be quite a lot of volatility with the new administration in America and the ongoing geopolitical issues, so we'll look for value out of that volatility," Mr Barker said. Markets were buoyant after Mr Trump's election – the return on Australian shares was 3 per cent in November and the US grew at its fastest pace in two years in the September quarter, but Mr Barker said investors remain concerned about Mr Trump's approach to global trade agreements and what the fallout may be for China and Australia. [More]

As an alternative dividend source to the banks and property trusts, the burgeoning listed investment company sector should be on the shopping list of any self-respecting, self-funded retiree. An LIC is a basket of stocks chosen by a manager and then listed as an investment vehicle on the sharemarket. Critics of LICs contend that investors are merely incurring a management fee to invest in the usual blue-chip suspects: for example, despite recently broadening its investments into selected mid-caps, the banks still account for 25 per cent of the portfolio of the biggest LIC in the local market, the Australian Foundation Investment Company. [More]

Volatile times ahead, warns Mirrabooka

News.com.au - Jul 13, 2016

Mirrabooka Investments has boosted annual profit by 24 per cent with help from stakes in Treasury Wine Estates and Mayne Pharma, but the listed investment firm expects markets to be volatile for the foreseeable future. "Heightened volatility is likely to be widespread in markets for the foreseeable future given economic and political uncertainties," Mirrabooka said on Wednesday. Mirrabooka on Wednesday booked a net profit of $8.8 million for the year ended June 30 - up from $7.1 million a year earlier. Profit was boosted by dividend income and a rise in the contribution from the company's trading portfolio, in which stocks are held for the short term . Mirrabooka said big companies on the share market were affected by growth concerns and market volatility throughout the 2015/16 financial year. However, small and mid-cap companies with good growth prospects in attractive industry segments generated strong share price performance. [More]

It’s official, the Australian Share Market has gone nowhere in the last 10 years. Referred to by some as Australia’s Lost Decade, the ASX 200 index closed at 5,310 on May 1 2006, and almost the same level of 5,252 on April 29 2016. What’s been missed in this comparison however is the impact of dividends on returns. Performance of shares including Exchange Traded Funds (ETFs) and Listed Investment Companies (LICs) is generally reported on their share price movements over time ... [More]

Financial advisers putting clients into simple, low-cost investments since the Future of Financial Advice(FoFA) reforms are helping drive a strong increase in demand for listed investment companies (LICs), according to leading LIC managers. Australia’s largest listed investment company, Australian Foundation Investment Company (AFIC), says both self-managed super funds (SMSFs) and advisers were boosting its shareholder numbers. “Our shareholder numbers are still going up quite significantly,” says AFIC’s general manager of investor relations and business development, Geoff Driver. “We’re still seeing SMSFs come on the register and we suspect there’s still strong demand being driven by advisers.” [More]

Volatility will be the top factor permeating the investment landscape during 2016, as even good companies come under fire and might suffer from being oversold, Mirrabooka Investments says.  The listed investment company, which is led by managing director Ross Barker from Australian Foundation Investment Company, believes increasing volatility will be a big investment theme as markets to swing because of fears over China's economy. [More]

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