PL8 is specifically designed and investment managed for zero tax-rate investors given the strategic emphasis on capitalising on franking credit market ‘inefficiencies’ as well as the strategy’s high portfolio turnover (150-200% p.a.). IIR ascribes Plato Income Maximiser Limited a “RECOMMENDED PLUS” rating.

2017 was an exceptional year for new listed investment company and listed investment trust raisings, with 14 new entities raising a total of $4.2bn via initial public offers. This significantly exceeded the funds raised by new LIC/LIT offers in the previous two years and lifted the total number of LICs & LITs on the ASX to 105 by the end of November 2017.

Initiation of Coverage - IIR ascribes a Recommended rating. The company was listed in October 2014 and therefore has three years of performance history. The company offers exposure to a concentrated portfolio of global stocks with a small to mid cap bias. Full details are attached in the report.

IIR has upgraded its rating to “Highly Recommended”for MIR. IIR has always held MIR and similarly its sister strategy, AFI, in high regard, with a strong team and investment committee, transparency, low costs and the benefits of a lengthy track-record. Investors can gain confidence from a long track-record in which the Manager has achieved its investment objectives over the long-term (10-year+ period).

We look at the performance of listed investment companies and listed investment trust for the 12 months to 30 September 2017 and found that LICs with an international focus were the best performers, with one LIC delivering a portfolio return of 30%.