Legal structure |
Unit trust |
Unit trust |
Unit trust |
Unit trust |
Unit trust |
Unit trust |
Unit trust |
Unit trust |
Company |
Company |
Unit trust |
Unit trust |
Unit trust |
|
Listing |
Unlisted |
Unlisted |
Unlisted |
Unlisted |
Unlisted |
Unlisted |
Unlisted |
Unlisted |
ASX listed |
ASX listed |
Unlisted (but settled through the ASX mFund Settlement Services) |
Quoted on ASX AQUA Market |
Quoted on ASX AQUA Market |
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Open- or closed-ended |
Open-ended |
Open-ended |
Open-ended |
Open-ended |
Open-ended |
Open-ended |
Open-ended |
Open-ended |
Closed-ended |
Closed-ended |
Open-ended |
Open-ended |
Open-ended |
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Valuation & pricing |
Units are bought (applications) and sold (redemptions) at the fund's net asset value per unit (subject to buy/sell spread), which are published daily. Forward-pricing is used, i.e. the NAV unit price is unknown at the time a trade is placed. |
Units are bought (applications) and sold (redemptions) at the fund's net asset value per unit (subject to buy/sell spread), which are published daily. Forward-pricing is used, i.e. the NAV unit price is unknown at the time a trade is placed. |
Units are bought (applications) and sold (redemptions) at the fund's net asset value per unit (subject to buy/sell spread), which are published daily. Forward-pricing is used, i.e. the NAV unit price is unknown at the time a trade is placed. |
Units are bought (applications) and sold (redemptions) at the fund's net asset value per unit (subject to buy/sell spread), which are published daily. Forward-pricing is used, i.e. the NAV unit price is unknown at the time a trade is placed. |
Units are bought (applications) and sold (redemptions) at the fund's net asset value per unit (subject to buy/sell spread), which are published daily. Forward-pricing is used, i.e. the NAV unit price is unknown at the time a trade is placed. |
Units are bought (applications) and sold (redemptions) at the fund's net asset value per unit (subject to buy/sell spread), which are published daily. Forward-pricing is used, i.e. the NAV unit price is unknown at the time a trade is placed. |
Units are bought (applications) and sold (redemptions) at the fund's net asset value per unit (subject to buy/sell spread), which are published daily. Forward-pricing is used, i.e. the NAV unit price is unknown at the time a trade is placed. |
Units are bought (applications) and sold (redemptions) at the fund's net asset value per unit (subject to buy/sell spread), which are published daily. Forward-pricing is used, i.e. the NAV unit price is unknown at the time a trade is placed. |
Shares are bought and sold at prices quoted on the ASX in real time. Note that PMC's share prices may be higher or lower than PMC's NTA backing per share, released to the ASX weekly and monthly. |
Shares are bought and sold at prices quoted on the ASX in real time. Note that PAI's share prices may be higher or lower than PAI's NTA backing per share, released to the ASX weekly and monthly. |
Units are bought (applications) and sold (redemptions) at the fund's net asset value per unit (subject to buy/sell spread), which are published daily. Forward-pricing is used, i.e. the NAV unit price is unknown at the time a trade is placed. |
Units are bought and sold at prices quoted on the ASX AQUA market. An indicative NAV (iNAV) per unit is calculated and published throughout the ASX trading day, having regard to the underlying fund’s portfolio holdings and foreign exchange movements. Actual NAV per unit of the fund is calculated and published each Business Day. Note that the actual price at which units are traded on the ASX AQUA market may not reflect either the NAV per unit or the iNAV per unit. |
Units are bought and sold at prices quoted on the ASX AQUA market. An indicative NAV (iNAV) per unit is calculated and published throughout the ASX trading day, having regard to the underlying fund’s portfolio holdings and foreign exchange movements. Actual NAV per unit of the fund is calculated and published each Business Day. Note that the actual price at which units are traded on the ASX AQUA market may not reflect either the NAV per unit or the iNAV per unit. |
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Distribution policy |
All of the fund's taxable net income, which includes any net realised capital gains, are distributed to unitholders annually as at 30 June. |
All of the fund's taxable net income, which includes any net realised capital gains, are distributed to unitholders annually as at 30 June. |
All of the fund's taxable net income, which includes any net realised capital gains, are distributed to unitholders annually as at 30 June. |
All of the fund's taxable net income, which includes any net realised capital gains, are distributed to unitholders annually as at 30 June. |
All of the fund's taxable net income, which includes any net realised capital gains, are distributed to unitholders annually as at 30 June. |
All of the fund's taxable net income, which includes any net realised capital gains, are distributed to unitholders annually as at 30 June. |
All of the fund's taxable net income, which includes any net realised capital gains, are distributed to unitholders annually as at 30 June. |
All of the fund's taxable net income, which includes any net realised capital gains, are distributed to unitholders annually as at 30 June. |
Whether a dividend will be paid in any particular period and the amount of any dividend to be paid is at the discretion of PMC’s Board of Directors and depends on factors such as cash flows and the availability of franking credits and accounting profits. This policy allows the Board to “smooth” dividends from year to year. To the extent that any profits are not distributed as dividends, PMC’s policy allows for some or all of its undistributed profits to be set aside into a separate dividend profit reserve to facilitate the payment of future dividends. |
Whether a dividend will be paid in any particular period and the amount of any dividend to be paid is at the discretion of PAI’s Board of Directors and depends on factors such as cash flows and the availability of franking credits and accounting profits. This policy allows the Board to “smooth” dividends from year to year. To the extent that any profits are not distributed as dividends, PAI’s policy allows for some or all of its undistributed profits to be set aside into a separate dividend profit reserve to facilitate the payment of future dividends. |
All of the fund's taxable net income, which includes any net realised capital gains, are distributed to unitholders annually as at 30 June. |
All of the fund's taxable net income, which includes any net realised capital gains, are distributed to unitholders annually as at 30 June. |
All of the fund's taxable net income, which includes any net realised capital gains, are distributed to unitholders annually as at 30 June. |
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Do distributions/dividends carry franking credits? |
As the fund predominantly invests in foreign equities, the fund does not generate or receive material franking credits. Therefore, distributions from the fund generally do not carry franking credits. |
As the fund predominantly invests in foreign equities, the fund does not generate or receive material franking credits. Therefore, distributions from the fund generally do not carry franking credits. |
As the fund predominantly invests in foreign equities, the fund does not generate or receive material franking credits. Therefore, distributions from the fund generally do not carry franking credits. |
As the fund predominantly invests in foreign equities, the fund does not generate or receive material franking credits. Therefore, distributions from the fund generally do not carry franking credits. |
As the fund predominantly invests in foreign equities, the fund does not generate or receive material franking credits. Therefore, distributions from the fund generally do not carry franking credits. |
As the fund predominantly invests in foreign equities, the fund does not generate or receive material franking credits. Therefore, distributions from the fund generally do not carry franking credits. |
As the fund predominantly invests in foreign equities, the fund does not generate or receive material franking credits. Therefore, distributions from the fund generally do not carry franking credits. |
As the fund predominantly invests in foreign equities, the fund does not generate or receive material franking credits. Therefore, distributions from the fund generally do not carry franking credits. |
PMC generally aims to pay fully-franked dividends. However, the extent of franking of each dividend is at the discretion of PMC's Board of Directors and depends on the availability of franking credits. |
PAI generally aims to pay fully-franked dividends. However, the extent of franking of each dividend is at the discretion of PAI's Board of Directors and depends on the availability of franking credits. |
As the fund predominantly invests in foreign equities, the fund does not generate or receive material franking credits. Therefore, distributions from the fund generally do not carry franking credits. |
As the fund predominantly invests in foreign equities, the fund does not generate or receive material franking credits. Therefore, distributions from the fund generally do not carry franking credits. |
As the fund predominantly invests in foreign equities, the fund does not generate or receive material franking credits. Therefore, distributions from the fund generally do not carry franking credits. |
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Tax treatment |
Unitholders are generally subject to income tax in respect of the taxable distributions they receive from the fund at the income tax rate applicable to them. |
Unitholders are generally subject to income tax in respect of the taxable distributions they receive from the fund at the income tax rate applicable to them. |
Unitholders are generally subject to income tax in respect of the taxable distributions they receive from the fund at the income tax rate applicable to them. |
Unitholders are generally subject to income tax in respect of the taxable distributions they receive from the fund at the income tax rate applicable to them. |
Unitholders are generally subject to income tax in respect of the taxable distributions they receive from the fund at the income tax rate applicable to them. |
Unitholders are generally subject to income tax in respect of the taxable distributions they receive from the fund at the income tax rate applicable to them. |
Unitholders are generally subject to income tax in respect of the taxable distributions they receive from the fund at the income tax rate applicable to them. |
Unitholders are generally subject to income tax in respect of the taxable distributions they receive from the fund at the income tax rate applicable to them. |
Being a company, PMC is taxed at source, meaning that its income (including any net realised capital gains) is generally subject to income tax at the prevailing company tax rate. Shareholders are generally subject to income tax in respect of the dividends they receive from PMC, though such dividends may carry franking credits. |
Being a company, PAI is taxed at source, meaning that its income (including any net realised capital gains) is generally subject to income tax at the prevailing company tax rate. Shareholders are generally subject to income tax in respect of the dividends they receive from PAI, though such dividends may carry franking credits. |
Unitholders are generally subject to income tax in respect of the taxable distributions they receive from the fund at the income tax rate applicable to them. |
Unitholders are generally subject to income tax in respect of the taxable distributions they receive from the fund at the income tax rate applicable to them. |
Unitholders are generally subject to income tax in respect of the taxable distributions they receive from the fund at the income tax rate applicable to them. |
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Do capital gains tax concessions apply to distributions/dividends? |
Distributions from the fund may include concessional capital gains. Refer to the fund's annual Distribution & Tax Statement for details. |
Distributions from the fund may include concessional capital gains. Refer to the fund's annual Distribution & Tax Statement for details. |
Distributions from the fund may include concessional capital gains. Refer to the fund's annual Distribution & Tax Statement for details. |
Distributions from the fund may include concessional capital gains. Refer to the fund's annual Distribution & Tax Statement for details. |
Distributions from the fund may include concessional capital gains. Refer to the fund's annual Distribution & Tax Statement for details. |
Distributions from the fund may include concessional capital gains. Refer to the fund's annual Distribution & Tax Statement for details. |
Distributions from the fund may include concessional capital gains. Refer to the fund's annual Distribution & Tax Statement for details. |
Distributions from the fund may include concessional capital gains. Refer to the fund's annual Distribution & Tax Statement for details. |
Distributions from PMC will be taxed as dividends, rather than as capital gains. |
Distributions from PAI will be taxed as dividends, rather than as capital gains. |
Distributions from the fund may include concessional capital gains. Refer to the fund's annual Distribution & Tax Statement for details. |
Distributions from the fund may include concessional capital gains. Refer to the fund's annual Distribution & Tax Statement for details. |
Distributions from the fund may include concessional capital gains. Refer to the fund's annual Distribution & Tax Statement for details. |
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Do distributions/dividends carry foreign tax offsets? |
Distributions from the fund may include foreign tax offsets. Refer to the fund's annual Distribution & Tax Statement for details. |
Distributions from the fund may include foreign tax offsets. Refer to the fund's annual Distribution & Tax Statement for details. |
Distributions from the fund may include foreign tax offsets. Refer to the fund's annual Distribution & Tax Statement for details. |
Distributions from the fund may include foreign tax offsets. Refer to the fund's annual Distribution & Tax Statement for details. |
Distributions from the fund may include foreign tax offsets. Refer to the fund's annual Distribution & Tax Statement for details. |
Distributions from the fund may include foreign tax offsets. Refer to the fund's annual Distribution & Tax Statement for details. |
Distributions from the fund may include foreign tax offsets. Refer to the fund's annual Distribution & Tax Statement for details. |
Distributions from the fund may include foreign tax offsets. Refer to the fund's annual Distribution & Tax Statement for details. |
Foreign tax offsets arising from PMC’s investments are applied by PMC to reduce its Australian tax payable. Dividends from PMC generally will not include foreign tax offsets. |
Foreign tax offsets arising from PAI’s investments are applied by PAI to reduce its Australian tax payable. Dividends from PAI generally will not include foreign tax offsets. |
Distributions from the fund may include foreign tax offsets. Refer to the fund's annual Distribution & Tax Statement for details. |
Distributions from the fund may include foreign tax offsets. Refer to the fund's annual Distribution & Tax Statement for details. |
Distributions from the fund may include foreign tax offsets. Refer to the fund's annual Distribution & Tax Statement for details. |
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