On 17 December 2018, MGIM Pty Ltd declares its distribution information for its managed fund Montgomery Global Equities Fund (ASX: MOGL) for the period ended 31 December 2018. The ex-distribution date announced for the managed funds will be 28 December 2018. It means to gain net asset per share; the investor needs to buy the fund before that ex-distribution date. Those investors who book the fund on or after the ex-distribution date will not be eligible for the next distribution.
The record date for the fund is 31 December 2018. This date signifies the list of investors who will be entitled to the distribution of the fund.
The DRP (distribution reinvestment plan) election date is on 02 January 2019 where an option is given to the investors to either receive the distribution in the form of cash, or they can reinvest the income further into the funds.
The final payment of the distribution will be on 17 January 2019.
The estimated distribution of the fund is declared to be 7.5 cents per unit of the fund subject to change depending on its variables. There will be no impact on the value of the fund based on any foreign currency fluctuations in between the date of announcement and the record date on 31 December 2018. Also, this distribution is taxable under Income Tax Assessment Act 1997.
The Montgomery Global Equities Fund got listed on ASX on 20 December 2017. The performance of the fund remains negative till last one month. Its performance is positive in the past five days.
For the period in between 10 October 2017 to 30 June 2018, the total investment income generated through this fund was $7.037 million. The total expenses of the fund were A$1.225 million. The operating profit of the fund during the period was $5.812 million. The funds hold a total asset of $84.530 million and a total liabilities of $3.144 million which signifies that the net asset of $81.366 is attributable to the unitholders of the fund.
The fund generated revenue through the sale of the financial instrument held at fair value through profit and loss worth $31.057 million. There was a source of cash outflow in the form of additional purchase of financial instrument which holds a fair value through profit and loss, management fee, auditor fee, responsible entity fee, custody and administration fee, and few other expenses. As a result, there was a net cash outflow of $58.810 from the operating activities of this fund.
Through the investing activities of the fund, there was a net cash inflow of $77.553 million of revenue generated by issuing an application to the unitholders. By the end of the period, the funds hold net cash and cash equivalent worth $18.764 million.
By the end of trading on 17 December 2018, the market price of the fund was A$3.220.
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