Peter Rae

Peter
Rae


Independent Investment Research

Peter has 35 years’ experience in the banking and finance industry, including 15 years as an equities analyst. Peter was a sector head in the equities research team at Morningstar with a focus on consumer and industrial companies.

Expertise

10 high yield LICs

Peter Rae

In its latest LMI Monthly Update, Independent Investment Research takes a look at the recent listed investment company reporting season which saw a majority of LICs report higher earnings and many pay higher dividends to their shareholders. We also highlight the top 10 yielding LICs under our coverage and discuss... Show More

MCP Master Income Trust: A focus on fixed income

Peter Rae

Independent Investment Research has initiated coverage of MCP Master Income Trust (ASX:MXT), a listed investment trust that invests in a diversified portfolio of loans to Australian companies. It does so through investments in several wholesale funds managed by Metrics Credit Partners (MCP), an Australian debt-specialist fund manager with significant direct... Show More

ASX:CIE ASX:WAM ASX:WAX ASX:AFI ASX:ARG ASX:MLT ASX:PL8

Listed Managed Investments: Quarterly Review

Peter Rae

In its latest Quarterly LMI Market Review, Independent Investment Research (IIR) provides detailed coverage of 43 listed investment companies, listed investment trusts and exchange traded managed funds including commentary, investment views and ratings. We have coverage across a number of sectors and investing strategies and provide insight into performance, discounts... Show More

Antipodes Global Investment Company: A LIC with a well-managed portfolio of global equities

Peter Rae

Independent Investment Research has initiated coverage of Antipodes Global Investment Company (ASX:APL) a listed investment company that invests in a relatively concentrated long/short portfolio of global equities. Many domestic investors exhibit a home country bias, with Australian investor preferences often biased towards products and services that depend substantially on the... Show More

ASX:PMC ASX:MFF ASX:EGI ASX:MGG

Listed managed investments: 2017 in review

Peter Rae

2017 was a good year for global equity markets and this was reflected in the performance of listed managed investments, with those focused on international equities delivering the best returns. With global markets now displaying greater volatility and some major falls over the past week, performance of individual LMIs in... Show More

Plato Income Maximiser: A LIC that pays monthly dividends

Peter Rae

Plato Income Maximiser (ASX:PL8) is a listed investment company that aims to provide investors with regular income by investing in a portfolio of Australian large and mid-cap equities. PL8 was listed in May 2017, but the underlying Plato Fund, managed by Plato Investment Management, has a six year track-record. Over... Show More

ASX:PL8

Listed Managed Investments: Quarterly Review

Peter Rae

In its latest Quarterly LMI Market Review, Independent Investment Research (IIR) provides detailed coverage of 42 listed investment companies, listed investment trusts and Active ETFs including commentary, investment views and ratings. We look across a number of sectors and investing strategies and provide insight into performance, discounts and premiums to... Show More

A big year for LICs

Peter Rae

2017 was an exceptional year for new listed investment company and listed investment trust raisings, with 14 new entities raising a total of $4.2bn via initial public offers. This significantly exceeded the funds raised by new LIC/LIT offers in the previous two years and lifted the total number of LICs... Show More

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International LICs Performing Strongly

Peter Rae

In its latest Monthly Listed Managed Investments Update, Independent Investment Research looks at the performance of listed investment companies and listed investment trust for the 12 months to 30 September 2017 and found that LICs with an international focus were the best performers, with one LIC delivering a portfolio return... Show More

Ten high yielding LICs

Peter Rae

In its latest LMI Monthly Update, Independent Investment Research takes a look at the ten highest yielding listed investment companies in its coverage and also considers the sustainability of dividends. We also discuss and provide our views on some recent events within the LIC space. Refer to our report below... Show More

Listed Managed Investments: Quarterly Review

Peter Rae

In its latest Quarterly LMI Market Review, Independent Investment Research (IIR) provides detailed coverage of 39 listed investment companies, listed investment trusts and Active ETFs including commentary, investment views and ratings. We look across a number of sectors and investing strategies and provide insight into performance, discounts and premiums to... Show More

LIC Reporting Season Wrap – Dividends Hold Up

Peter Rae

For the reporting season just finished there were 24 listed investment companies covered by Independent Investment Research that reported full year results. Out of this 24, there were 14 LICs that experienced earnings declines. This reflected lower dividend income, particularly for those LICs that have capital account status, and also... Show More

Large cap LICs outperform small caps in FY17

Peter Rae

In its latest LMI Monthly Update, Independent Investment Research looks at the performance of the LIC sector over the 12 months to 30 June 2017. The Australian large cap share focused LICs benefited from solid market performance over that time with the five largest LICs delivering an average portfolio return... Show More

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BKI Investments offers exposure to a well-managed portfolio of Australian equities

Peter Rae

Independent Investment Research has initiated coverage of BKI Investments, one of the older style LICs that invests in a portfolio of Australian equities. It has an all market cap mandate although is heavily weighted to the ASX 50. Up until 2016, BKI was internally managed but is now managed by... Show More

ASX:SOL ASX:AFI ASX:ARG ASX:MLT ASX:BKI ASX:URB

Five LICs at a discount to NTA

Peter Rae

In its latest LMI Monthly Update, Independent Investment Research takes a look at why listed investment companies trade at discounts and premiums to net tangible asset value. We also take a look at five LICs that are currently trading at large discounts to NTA, look at some of the reasons... Show More

AFIC upgraded to Highly Recommended by IIR

Peter Rae

Independent Investment Research is upgrading its rating on Australian Foundation Investment Company from “Recommended Plus” to “Highly Recommended”. The upgrade recognises AFIC’s sound investment processes, highly experienced investment team and Board, transparency, exceptionally low costs and the benefits of a lengthy track-record. Investors can gain confidence from a track-record in... Show More

ASX:AFI ASX:ARG ASX:MLT

Selecting the right LIC for your investing needs

Peter Rae

In its latest Quarterly LMI Market Review, Independent Investment Research (IIR) provides detailed coverage of 37 listed investment companies, listed investment trusts and Active ETFs including commentary, investment views and ratings. We look across a number of sectors and investing strategies and provide insight into performance, discounts and premiums to... Show More

Finding value amongst small-cap LICs

Peter Rae

Small-cap shares have underperformed the broader market over the past 12 months and, on some metrics, the sector appears reasonable value. However, investing in small-caps can be a riskier proposition and in recent weeks a number of small-cap company share prices have been hit hard by revenue and earnings downgrades.... Show More

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Large cap LICs continue to benefit from strong market

Peter Rae

In its latest Monthly LMI Update, Independent Investment Research looks at listed investment company performance over the March 2017 quarter. The Australian large cap focused listed investment companies benefited from the solid market performance over the quarter with the five largest listed LICs delivering an average portfolio return (pre-tax NTA... Show More

Argo upgraded to Highly Recommended by IIR

Peter Rae

Independent Investment Research is upgrading its rating on Argo Investments (ASX:ARG) from “Recommended Plus” to “Highly Recommended”. IIR has always held Argo in high regard, but over the years our conviction has been cemented that Argo is truly best-of-breed in the listed investment company sector. The positives of Argo far... Show More

ASX:AFI ASX:ARG ASX:MLT ASX:BKI ASX:AUI ASX:DJW ASX:DUI

Hi Graeme, Thanks for your question and our apologies for the delay in responding to you due to the Christmas/New Year break. The entities that are noted as “Not Rated” in our Monthly LMI Update are those entities that do not participate in our LIC research scheme but for which we simply provide base information. Importantly we do not have a view on these LICs and therefore there is no rating ascribed. Our LIC research rating scheme applies to those managers who participate in our quarterly rating process. For these participants we collect detailed data on a quarterly basis which underpins their rating. Where it is likely that we may rate an entity as Not Recommended, the Manager has the right to not go ahead with publication and to not participate in our research scheme. In such instances we notify ASIC. These entities will also appear in our tables as Not Rated. I hope this answers your question.

On A big year for LICs -