ASX listed Montgomery Global Equities Fund (ASX: MOGL) traded flat on ASX after the Fund revealed the final distribution below the estimated figure.
In the announcement dated 8 January 2019, MGIM Pty Ltd. stated that final distribution amount for the period ended 31 December 2018 for Montgomery Global Equities Fund (Managed Fund) is 7.1 cents per unit. It reflects the decline from the estimated distribution of 7.5 cents per unit, declared in the release dated 17 December 2018.
The participants have however been given the opportunity to participate in the Distribution Reinvestment Plan for this distribution. That means investors’ amount of distribution would be reinvested in units as per the DRP Policy, once they opt to participate in DRP. But it is important to note that the last date for receipt of election notices to participate in the DRP is set to 2 January 2019.
With respect to distribution, the payment date is slated to 17 January 2019 for the participants registered on the record date of 31 December 2018.
Moreover, the Fund has recently announced the net redemptions and units on issue for the month ended 31 December 2018. It translates 26,464,154 units on issue with the Net Asset Value per share of $3.1264 as on 31 December 2018. For the same period, the number of units redeemed stood at 306,645 worth $998,402.
Montgomery Global Equities Fund is an ASX-listed managed investment fund that aims to provide long-term capital growth to investors along with the targeted 4.5% income distribution annually. The Fund adopts the strategy to invest in a high-conviction portfolio of 15-30 businesses listed on major global stock exchanges and cash. As at 31 December 2018, MOGL’s Net Fund Assets stood at $82,736,542.
Further, in today release MOGL declared it is an Attribution Managed Investment Trust for the Income Tax Assessment Act 1997 in respect of the income period to 31 December 2018.
In today’s trading session, there has been no daily price movement in MOGL; however, 22,315 shares changed as at 8 January 2019 (1:59 PM AEST). The stock last traded at $3.120, reflecting a negative change of 0.64% over the past 5-day trade.