AMCIL LIMITED — Net Asset Value 2018

Sep 4, 2018

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Monthly net tangible asset (NTA) backing per share and top 20 investments as at 31 August 2018

Monthly net tangible asset (NTA) backing per share and top 20 investments as at 31 August 2018
Before Tax*	After Tax*
31 August 2018Ex Div $1.01	$0.92
31 July2018Cum Div $1.02	$0.94

The August 2018 figures are after the payment of the final dividend of 4.25 cents per share while the July figures are before the provision for the dividend.

• The before and after tax numbers relate to the provision for deferred tax on the unrealised gains in the Company’s investment portfolio. The Company is a long term investor and does not intend disposing of its total long term investment portfolio. Under current Accounting Standards, the Company is required to provide for tax on any gains that may arise on such a theoretical disposal, after the utilisation of brought forward losses.

Key facts

Investment objectives: AMCIL is a medium to long-term investor in the Australian equity market. Its investment approach is to construct a focused portfolio in which large and small companies can have an equally important impact on investment returns.

Benchmark: S&P/ASX 200 Accumulation Index.

Size of portfolio: $270.5 million at 31 August 2018. Management cost: 0.69 per cent, no performance fees. Investment style: Active, fundamental, bottom-up.

Suggested investment period: Five years to 10 years or longer.

Key benefits

Diversified portfolio primarily of ASX-listed Australian equities.

Tax-effective income via fully franked dividends. Consistent after tax paid investment returns achieved over the long term.

Professional management and an experienced Board, investment and management team.

Low-cost investing.

Ease of investing, transparent ASX pricing.

Shareholder meetings on a regular basis.

Net asset backing: released every month with top 20 investments.

Listed on ASX: code AMH.

Portfolio performance percentage per annum-periods ending 31 August 2018*

Share price premium/discount to NTA

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10%
5%
0%
-5%
1 year 5 years 10 years
-10%
Net asset per share growth plus S&P/ASX 200 Accumulation
dividends, including franking Index including franking
Aug 13 Aug 14 Aug 15 Aug 16 Aug 17 Aug 18
19.7%
17.1%
11.1%
9.7% 10.6%
8.4%
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• Assumes an investor can take full advantage of the franking credits. AMCIL’s portfolio return is also calculated after management fees, income tax and capital gains tax on realised sales of investments. It should be noted that Index returns for the market do not include management expenses or tax.

Past performance is not indicative of future performance.

AMCIL Limited (AMCIL) – ABN 57 073 990 735

Level 21, 101 Collins Street, Melbourne Victoria 3000 Share Registrar 1300 653 916 (in Australia) (03) 9650 9911 | invest@amcil.com.au | amcil.com.au Computershare Investor Services Pty Ltd +61 3 9415 4373 (outside Australia) investorcentre.com.au

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Portfolio facts

Top 20 investments valued at closing prices at 31 August 2018

		Total Value	% of the
		$’000	Portfolio
1	CSL	16,821	6.3
2	BHP	14,828	5.5
3	Westpac BankingCorporation*	10,220	3.8
4	Lifestyle Communities	10,051	3.7
5	Macquarie Group	9,626	3.6
6	Mainfreight	8,511	3.2
7	National Australia Bank*	8,386	3.1
8	Qube Holdings	8,356	3.1
9	Oil Search*	8,068	3.0
10	Commonwealth Bank of Australia*	7,588	2.8
11	James Hardie Industries	7,410	2.8
12	CYBG	6,538	2.4
13	Transurban Group	6,519	2.4
14	Freedom Foods Group	6,464	2.4
15	Carsales.com	6,294	2.3
16	Seek	6,272	2.3
17	Computershare*	6,058	2.3
18	IRESS	6,048	2.2
19	Woolworths Group*	5,897	2.2
20	Sonic Healthcare	5,893	2.2
Total		165,848
As a	percentage of total portfolio value (excludes cash)		61.6%

Investment by sector at 31 August 2018

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Industrials 19.5% Materials 15.3% Other Financials 13.4% Information Technology 12.5% Banks 12.1% Healthcare 9.7% Consumer Discretionary 6.0% Energy 4.6% Consumer Staples 4.6% Telecom Services 1.7% Cash 0.6%

• Indicates that options were outstanding against part of the holding.

Important Information

This information has been prepared by AMCIL Limited (AMCIL) (ABN 57 073 990 735) and is provided by Australian Investment Company Services Limited, holder of Australian Financial Services Licence 303209 (Provider). To the extent that this information includes any financial product advice, the advice is of a general nature only and does not take into account any individual’s objectives, financial situation or particular needs. Before making an investment decision an individual should assess whether it meets their own needs and consult an appropriately licensed financial adviser. The information contained in these materials have been prepared in good faith. However, no warranty (express or implied) is made as to the accuracy, completeness or reliability of any statements, estimates or opinions or other information contained in these materials (any of which may change without notice) and to the maximum extent permitted by law, the Disclosers disclaim all liability and responsibility (including, without limitation, any liability arising from fault or negligence on the part of any or all of the Disclosers) for any direct or indirect loss or damage which may be suffered by any recipient through relying on anything contained in or omitted from these materials. A copy of the relevant Financial Services Guide can be found on AMCIL’s website: www.amcil.com.au

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