Djerriwarrh Investments Limited
Overview
| LIC Name | Djerriwarrh Investments Limited |
| ASX Ticker | DJW |
| Listing Year | 1995 (28 years operating) |
| Size (Market Cap) | $775M |
| Investment Focus | Australian Equities |
| Portfolio Bias | Large Cap |
| Benchmark | S&P/ASX 200 Accumulation Index |
| Management Structure | Internally Managed |
| Investment Manager | N/A (Internally Managed) |
| Management Fee Structure | N/A (Internally Managed) |
| Performance Fee Structure | No Performance Fee |
| Cost Indicator (FY23) | 0.44% |
| Objective | DJW invests in a diversified portfolio of Australian equities with a focus on stocks where there is an active options market. The Company uses Exchange Traded Options to enhance income returns to investors. The company aims to provide investors with attractive investment returns through a higher level of fully franked dividend than the ASX200, and capital growth over the medium to long term. |
| Objective | |
| DJW invests in a diversified portfolio of Australian equities with a focus on stocks where there is an active options market. The Company uses Exchange Traded Options to enhance income returns to investors. The company aims to provide investors with attractive investment returns through a higher level of fully franked dividend than the ASX200, and capital growth over the medium to long term. |
|
| Recent Annual Reports | 2023, 2022, 2021, 2020, 2019, 2018, 2017, 2016, 2015, 2014 |
Key Personnel
Board Members
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Graham B Goldsmith AO
Chairman and Independent Non-Executive Director
Joined DJW: 2013
Shares Owned: 232K
Share Value: $659K
*Share data from 2023 Annual Report
Chairman of the Investment Committee. Member of the Nomination Committee. Non-Executive Director of the Company's associated entity, Australian Investment Company Services Limited (AICS). <br><br>Mr Goldsmith is a Company Director who was ...
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Mark Freeman
Managing Director
Joined DJW: 2007
Shares Owned: 116K
Share Value: $328K
*Share data from 2023 Annual Report
Member of the Investment Committee. Managing Director of the Company's associated entity, Australian Investment Company Services Limited (AICS). <br><br>Mr Freeman became Chief Executive Officer and Managing Director in January 2018 having been ...
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Alice J M WIlliams
Independent Non-Executive Director
Joined DJW: 2010
Shares Owned: 167K
Share Value: $474K
*Share data from 2023 Annual Report
Chair of the Audit Committee. Member of the Investment Committee. <br><br>Ms Williams was appointed to the Board in May 2010. Ms Williams is a Director of Mercer Investments (Australia) Ltd, Advance Asset Management Ltd, Australian Submarine ...
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Kathryn J Fagg AO
Independent Non-Executive Director
Joined DJW: 2014
Shares Owned: 20K
Share Value: $57K
*Share data from 2023 Annual Report
Chair of the Nomination Committee and Member of the Investment and Audit Committees. <br><br>Ms Fagg joined the Board in May 2014. Her executive and professional roles have been broad and diverse. She started her career as a chemical engineer. ...
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Bruce R Brook
Independent Non-Executive Director
Joined DJW: 2021
Shares Owned: 27K
Share Value: $76K
*Share data from 2023 Annual Report
Member of the Investment Committee. <br><br>Mr Bruce Brook joined the Board on 1 August 2021. Mr Brook is a Non-Executive Director of CSL Limited, Incitec Pivot Limited and Newmont Corporation. During his executive career, Mr Brook was the Chief ...
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Geoffrey I Roberts
Independent Non-Executive Director
Joined DJW: 2022
Shares Owned: 36K
Share Value: $102K
*Share data from 2023 Annual Report
Member of the Investment and Audit Committees. <br><br>Mr Roberts was appointed to the Board in July 2022. <br><br>Mr Roberts has over 35 years finance experience, including as Group Chief Financial Officer of Seek Limited, Managing Partner of ...
Investment Management
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Mark Freeman
Managing Director
Joined DJW: 2007
Shares Owned: 116K
Share Value: $328K
*Share data from 2023 Annual Report
Member of the Investment Committee. Managing Director of the Company's associated entity, Australian Investment Company Services Limited (AICS). <br><br>Mr Freeman became Chief Executive Officer and Managing Director in January 2018 having been ...
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Brett McNeill
Portfolio Manager
Joined DJW: 2019
Brett joined the group in October 2019 as a Portfolio Manager. <br><br>Brett has over 18 years of Investment Experience. Prior to joining AFIC, Brett spent 14 years at Antares Capital (previously called Portfolio Partners and Aviva Investors) as ...
Shareholders & Portfolio Size
Number of Shareholders
Portfolio Size
Portfolio Holdings
Top 20 Holdings at end of FY 2023
Performance
Historical Performance
| Updated: February 2024 | 1yr | 3yrs | 5yrs | 10yrs |
|---|---|---|---|---|
| With Dividends Reinvested - Net | 10.9% | 3.8% | 3.4% | 1.0% |
| With Dividends Reinvested - Gross | 13.3% | 5.9% | 5.5% | 3.4% |
Chart of Historical Performance
Dividends
Dividend History
| Payment Date | Dividend Type | Dividend Amount | Franking Level |
|---|---|---|---|
| 22 Feb, 2024 | Interim | $0.0725 | 100% |
| 25 Aug, 2023 | Final | $0.0775 | 100% |
| 22 Feb, 2023 | Interim | $0.0725 | 100% |
| 26 Aug, 2022 | Final | $0.07 | 100% |
| 23 Feb, 2022 | Interim | $0.0675 | 100% |
| 27 Aug, 2021 | Final | $0.0575 | 100% |
| 22 Feb, 2021 | Interim | $0.0525 | 100% |
| 28 Aug, 2020 | Final | $0.0525 | 100% |
| 20 Feb, 2020 | Interim | $0.0875 | 100% |
| 27 Aug, 2019 | Final | $0.10 | 100% |
Chart of Dividend History
Corresponding Dividend Yields
Dividend Comparison
Costs
Cost Indicator (%)
Actual Costs
Share Price vs NTA
Some Common Questions about DJW
Djerriwarrh Investments Limited (DJW) is an Australian Listed Investment Company (LIC) listed on the Australian Stock Exchange (ASX). Established in 1995, DJW has been operating for over 28 years. The company focuses on investing in a diversified portfolio of Australian equities, with an emphasis on stocks that have an active options market.
DJW employs Exchange Traded Options as part of its investment strategy to enhance income returns for investors. The company aims to provide shareholders with attractive investment returns through a higher level of fully franked dividends than the ASX200, coupled with the potential for capital growth over the medium to long term.
Djerriwarrh Investments Limited (DJW) has a rich history, having commenced operations in 1995. DJW has a market capitalisation of approximately $750 million, reflecting its position as a substantial investment company in the Australian market.
When evaluating Djerriwarrh Investments Limited (DJW) as an investment choice, consider these key metrics:
- Long-term performance: Assess DJW's long-term performance and its ability to deliver strong, positive, risk-adjusted returns to investors over the long term.
- Dividend reliability: Examine the history of DJW's dividend payments and its reliability in providing consistent income to investors.
- Underlying holdings: Understand the composition of DJW's portfolio, including the specific Australian equities it holds and their potential for growth and income generation.
- Fees: Take into account the cost of investing in DJW, including management fees and any other associated expenses, as this can impact overall returns.
These key metrics provide valuable insights into Djerriwarrh Investments Limited's investment performance, income reliability, portfolio composition, and cost considerations for potential investors.
A Listed Investment Company (LIC) is one type of investment fund structure (i.e. shareholder funds pooled together and invested together, either actively by a manager, or passively). Other types of investment funds include Exchange Traded Funds (ETFs) (which can be both actively managed or passive), Listed Investment Trusts, or Managed Funds.
The different structures have their own positives and negatives, which are dependent on the goals of the investor and their own individual investment structure.
Some of the benefits of the LIC structure (the structure of DJW) include:
- It's a closed-end investment vehicle: Meaning the manager has a fixed pool of capital to invest with a long-term mindset, and doesn't have the risk of fast redemptions by investors in a time of market panic.
- They can smoothen out income to the investors: Which can be beneficial for both tax efficiency and emotional mindset, due to being able to retain profits over time (as compared to the trust structure, which must distribute income and crystallized capital gains to the investor in that financial year).
- The income will most likely be in the form of fully franked dividends: Which is an attractive form for Australian retirees due to the franking system in Australia. Since LICs are companies themselves and pay tax in Australia on profits, they receive franking credits paid on the tax they pay, in addition to the franking credits they receive from their investment portfolio. Well-managed LICs ensure their franking credit reserves are sufficient to pay future fully franked dividends (see 'franking reserves' chart above).