On 27 December 2018, Switzer Dividend Growth Fund (ASX: SWTZ) announced that it is going to pay fully franked estimated distribution of $0.03385 per unit, for the December quarter of 2018. It will be paid on 17 January 2019 with Ex-Date of 2 January 2019 and record date of 3 January 2019. Following this news, the share price of the fund increased by 1.786 percent as on 27 December 2018.
Details of the actual distribution will be announced on 2 January 2018 and due to applications and redemptions between now and the Ex-Date, the company is expecting to see a small movement between the estimated and actual distribution per unit. As at 30 November 2018, SWTZ’s Net asset value per unit was $2.3520, and total net asset funds were $70.956 million. In the month of November, SWTZ redeemed 8,063 units which is equivalent to $19,297.
For the financial year 2018, SWTZ reported a total investment income of $7.38 million and total expenses of $810k. SWTZ earned a profit before financing the cost of $6.571 million. During FY 2018, the company paid a management fee of $621k and transaction cost of $189K. At the end of FY 2018, SWTZ was having total assets of $77.87 million and total liabilities of $75.59 million. SWTZ’s net cash used in operating activities was $7.152 million in FY 2018. As at 30 June 2018, SWTZ’s cash and cash equivalent was $1.279 million. Earlier for September quarter, SWTZ paid an actual distribution of $0.050464 per unit on 17 October 2018.
Switzer Asset Management Limited who acts as a responsible entity of the Switzer Dividend Growth Fund (managed fund) is having a highly-experienced team of some of Australia’s leading investment experts including Mr. Peter Switzer, Mr. Paul Rickard as well as highly-respected stock picker Mr. Charlie Aitken. The investment team of Switzer Asset Management Limited is having an effective and disciplined investment process which is a combination of top-down and bottom-up analysis which helps the team to add value at both the stock and sector level. The process involves conducting an economic analysis outlines the likely path of key economic and financial market variable over the next year. Switzer Dividend Growth Fund is a simple to use, low-cost vehicle which is easily accessible to investors through the Australian Securities Exchange (ASX).
In the last year, the share price of SWTZ decreased by 14.18 percent as on 24 December 2018. SWTZ’s shares traded at $2.280 with an intra-daily volume of 82,110 shares.
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