Latest NTA per Share
(pre-unrealised tax)
$0.186
Current Year Target Dividend

$0.005
Yield on Target Dividend

3.1%

Ozgrowth Limited (OZG.ASX) is a listed investment company based in Perth and established in 2008.

The Company’s objective is to generate a positive return over the medium to long-term, regardless of the movements of the broader share market, from an actively managed portfolio of small cap ASX listed and unlisted investments, and provide shareholders with a consistent stream of dividends.

Stocks selected within the portfolio will typically have a connection to Western Australia whether it be through their assets, operations and/or management.

The Company’s portfolio is managed by Westoz Funds Management Pty Ltd (AFSL 285607), a 100% owned subsidiary of Euroz Limited. Euroz Limited is invested alongside shareholders via a 40% shareholding.

Dividend Payments:

The Company intends on paying a consistent stream of dividends to investors. Dividend payments will be set after considering our level of realised net profits after tax, retained earnings and availability of franking credits.

To date, OZG has generated over $54m in dividends and franking credits for shareholders.

Dividend Reinvestment Plan details:

Dividend Reinvestment Plan and Form

Dividend History:

 

Ex Date Date Paid Dividend (cents) Franking Level DRP
1-Feb-2019 22-Feb-2019 0.25 100% Yes, TBC
3-Aug-2018 27-Aug-2018 0.25 100% Yes, at 18.9 cents
31-Jan-2018 20-Feb-2018 0.25 100% Yes, at 17.4 cents
7-Aug-2017 24-Aug-2017 0.25 100% Yes, at 15.9 cents
31-Jan-2017 20-Feb-2017 0.25 100% Yes, at 17.1 cents
8-Aug-2016 25-Aug-2016 0.25 100% Yes, at 15.45 cents
2-Feb-2016 19-Feb-2016 0.25 100% Yes, at 11.5 cents
7-Aug-2015 27-Aug-2015 0.75 100% Yes, at 14.87 cents
6-Feb-2015 24-Feb-2015 0.75 100% Yes, at 16.43 cents
7-Aug-2014 25-Aug-2014 0.75 100% Yes, at 21.5556 cents
28-Jan-2014 17-Feb-2014 0.75 100% No
2 August 2013 15 August 2013 1.00 100% No
14 January 2013 01 February 2013 0.50 100% No
2 August 2012 16 August 2012 0.80 100% No
25 January 2012 15 February 2012 0.20 100% No
3 August 2011 16 August 2011 1.20 100% No
25 January 2011 15 February 2011 0.50 100% No
3 August 2010 16 August 2010 1.10 100% No
25 January 2010 15 February 2010 0.30 100% No
6 August 2008 22 August 2008 0.20 100% No

OZG’s investment portfolio has produced a gross investment return of 6.9%* per annum since inception.

* Portfolio performance represents the return on the company’s gross investment portfolio before all fees, expenses and taxes. Past performance is not a reliable indicator of future performance.

 

As an ASX listed company, our company announcements are available on that platform.

All our lodged announcements are available here:

 

09/01/2019
Weekly NTA Update

07/01/2019
Dividend/Distribution - OZG

03/01/2019
Quarterly NTA Update

 

View all ASX Announcements

Annual reports for Ozgrowth Limited are available since inception in 2008.

You can view each year report below:

2018 ANNUAL REPORT
2017 Annual Report
2016 Annual Report
2015 Annual Report
2014 Annual Report
2013 Annual Report
2012 Annual Report
2011 Annual Report
2010 Annual Report
2009 Annual Report

Ozgrowth Limited’s Initial Prospectus can be viewed by clicking the following link:

Initial Prospectus – Ozgrowth Limited

Investors wishing to gain exposure to our investments can purchase securities in Ozgrowth Limited through your investment platform, stockbroker or affiliated advisor.

Ordinary shares trade on the ASX under the code OZG.

The Company also has options on issue under code OZGOC.ASX. Details of the Aug 2019 $0.19 options are available here.

If you require further assistance or cannot locate the document you are after, our share registry, Computershare Investor Services Pty Ltd (phone: 1300 732 012) may be of assistance.

Alternatively, you can contact us directly at admin@westozfunds.com.au or on 08 9321 7877.

Mr Jay Hughes – Non-Executive Chairman

Mr Hughes commenced as a Director of the Company in 2005 and assumed the role of Non-Executive Chairman in October 2013.

Mr Hughes holds a Graduate Diploma in Applied Finance and Investment from the Securities Institute of Australia.  He was recognised as an affiliate of ASX in December 2000 and was admitted in May 2004 as a Practitioner Member (Master Stockbroking) of the Stockbrokers and Financial Advisors Association.

Mr Hughes is also a member of the Manager’s Investment Committee.

 


 

 

 


Mr Michael Jefferies – Independent Non-Executive

Mr Mike Jefferies is an Independent  Director and has extensive experience in finance and Investment.  He has been in this role since October 2007.

He currently sits on the Board of Homeloans Limited and is Chairman of Pantoro Limited.

Mr Jefferies is a Chartered Accountant and holds a Bachelor of Commerce Degree.

 

 

 

 

 

 

Mr Simon Joyner  – Independent Non-Executive Director

Mr Joyner has been involved in the West Australian financial services industry since 1985 and brings a broad range of experience to Westoz. Mr Joyner established Keysbrook Financial Services in 1997, one of Western Australia’s first independently owned financial services firms. In 2008 Keysbrook became a founding firm of what was to become the Shadforth Financial Group (“SFG”). SFG subsequently listed on the ASX and was purchased by IOOF in 2014.

More recently Mr Joyner established management consulting firm Aberfoyle Partners, assisting businesses across a range of industries but predominantly those associated with the financial services industry. Mr Joyner is the Chairman of Kidsafe WA and sits on the board of the Perth Symphony Orchestra.

Mr Joyner has a Bachelor of Commerce Degree from the University of Western Australia.

Mr Anthony Hewett – Company Secretary

Mr Hewett commenced as the Company Secretary of the Company in June 2017 and is the Group Company Secretary to Euroz Limited and its subsidiaries.  He is also Company Secretary of Ozgrowth Limited.

Mr Hewett is a Chartered Secretary and holds a Master of Business Law (MBusLaw) from Curtin University, and a Graduate Diploma in Applied Corporate Governance (GradDipACG) from the Governance Institute of Australia.  In addition, Mr Hewett also holds qualifications in Financial Services, Leadership, and Training.

Mr Hewett is a Fellow of the Institute of Chartered Secretaries and Administrators (FCSA), a Fellow of the Governance Institute of Australia (FGIA) and a Master Stockbroking, Stockbrokers and Financial Advisers Association of Australia (MSAFAA).

INVESTMENT OBJECTIVE

The Company’s objective is to generate a positive return over the medium to long-term, regardless of the movements of the broader share market, from an actively managed portfolio of small cap ASX listed and unlisted investments, and provide shareholders with a consistent stream of dividends.

INVESTMENT PHILOSOPHY

Ozgrowth’s investment philosophy is based on the premise that financial markets and individual securities can and do deviate away from fair value. By detailed analysis of a range of valuation parameters, a portfolio of listed and unlisted securities can be assembled to generate an acceptable level of return over the medium to long term.

Ozgrowth believes that an investment focus with a longer term horizon can generate significant benefits due to an ability to hold securities that are not actively traded. This allows for a greater focus on listed companies with market capitalisations below $50 million, those listed securities that are not actively researched by broking houses, and unlisted securities.

A medium to long-term investment horizon is required and large non-investment driven cash flows can adversely impact long term performance.  Hence, a listed investment company structure is the most appropriate form of the investment vehicle.

INVESTMENT STRATEGY

Ozgrowth has appointed the Manager to undertake the management of its investment portfolio in a manner consistent with its Investment Philosophy.

Ozgrowth will mainly invest in listed securities. From time to time, a portion of the Portfolio may be held in short term cash deposits. Due to the geographic location of the Manager, it is anticipated that the majority of investments will have a connection to Western Australia.  Derivatives may be used where considered appropriate.

The Manager will use a variety of sources to generate investment ideas. A range of parameters are used to assess value, but a key input to the analysis is the expected growth potential of the company. After completing the necessary analysis, a set of stock recommendations will be presented to the Manager’s Investment Committee.

The Investment Committee will review the recommendations and put them in the context of the overall equity environment. It will then review the Company’s current Portfolio in light of the information presented to it and adjust holdings in the Portfolio to ensure the targeted performance is achieved.

The Investment Committee can also use a variety of instruments to achieve its performance objectives. Where they are allowed, short positions may be held where a compelling reason exists. Derivatives may also be used to generate additional income in the Portfolio or to protect the Portfolio from market downturns.

INVESTMENT MANAGEMENT FEES

The manager is paid a base fee of 1% per annum of funds managed. In addition, a performance fee is payable where the increase in the portfolio value exceeds 7% over a twelve month period to end of June and is calculated at 20% of the increase exceeding the threshold. The starting point for the calculation of the threshold is the greater of the starting portfolio value and the number of shares on issue multiplied by $0.20.

PERMITTED INVESTMENTS

Subject to the conditions of the Australian Financial Services licence held by the Manager, the Manager may invest in the following types of investments:

  • Listed Securities and unlisted securities;
  • Rights to subscribe for or convert to securities (whether or not such rights are tradeable on a securities exchange);
  • Securities for the purpose of short selling;
  • Warrants or options to purchase any investment and warrants or options to sell any investment permitted under the Management Agreement;
  • Discount or purchase of bills of exchange, promissory notes or other negotiable instruments accepted, drawn or endorsed by any bank or by the Commonwealth of Australia, any State or Territory of Australia, or by any corporation of at least an investment grade credit rating granted by a recognised credit rating agency in Australia;
  • Deposits with any bank;
  • Debentures, unsecured notes, loan stock, bonds, promissory notes, certificates of deposit, interest bearing accounts, certificates of indebtedness issued by any bank or by the Commonwealth of Australia, any State or Territory of Australia, or any Australian government authority, or, if authorised by its Directors, a corporation of at least an investment grade credit rating granted by a recognised credit rating agency in Australia;
  • Units or other interest in cash management trusts; and;
  • Any other investment, or investment of a particular kind, approved by the Board in writing.

RISK CONTROL

Performance of the Portfolio will be generated from investment in suitable stocks. However, diversification of holdings will be used to limit the risk where the actual performance of individual stocks does not meet expectations. Risk control features of the Portfolio will include:

  • No one stock will represent more than 20% of the total Portfolio Value at the time of acquisition.
  • No investment will represent more than a 20% stake in the issued securities of a company.
  • It is anticipated that the Portfolio will consist of between 10 and 25 stocks, although more or less may be held depending on the number of securities identified that are expected to meet the performance expectations.
  • Where suitable stocks can not be identified, the portfolio may invest in cash. Whilst unlikely over the medium term, the Portfolio may consist from time to time of significant cash deposits.
  • Any short positions will not represent more than 20% of the total Portfolio Value.
  • Leverage may be employed in the Portfolio, but total exposure will not exceed 120% of the Portfolio Value.
  • Any breach of these risk control measures will be reported to the Company by the Manager and the Company will determine the appropriate action to remedy the breach.

The Board of the Company has in place a Corporate Governance Plan.

The Company uses the ASX Corporate Governance Principles of Good Corporate Governance and Best Practice Recommendations (Best Practice Recommendations) as a non-binding guide when determining its policy.

The Company will report any deviations from these best Practice Recommendations in its Corporate Governance Statement and the Appendix 4G released to the ASX.

Corporate Governance Statement
Corporate Governance Plan

Generated over $210m in dividends and franking credits

West Australian based and investment focused

Investment Manager aligned with investors

Consistent investment team

Westoz Funds Management Pty Ltd (WFM) is a Perth based fund manager established in 2005.

WFM manages two listed investment companies, Westoz Investment Company Limited and Ozgrowth Limited, which focus on investing in small to mid cap ASX listed securities, generally connected to Western Australia.

The investment objective for both portfolios is to generate a positive return over the medium to long term, regardless of the movements of the broader share market, and provide shareholders with a consistent stream of dividends.

Westoz Funds Management Pty Ltd is a wholly owned subsidiary of Euroz Limited, a listed diversified financial services company.

More detail on the manager is available here.

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