Ozgrowth Limited

Ozgrowth Limited is a Listed Investment Company on the Australian Securities Exchange.

Investors wishing to gain exposure to our investments can purchase shares in Ozgrowth through your investment platform, stockbroker or affiliated advisor. Shares trade on the ASX under the ticker OZG.

OZG was established to give investors access to a fund focused on generating positive absolute returns with a focus on small to mid capitalisation ASX listed companies. It will invest in companies with a market capitalisation below $100 million and also consider unlisted opportunities from time to time. Within this universe we our proudly focused on investments with a connection to Western Australia.

The Company’s investment portfolio has produced a gross investment return of 7.3% per annum since inception.

The dividend policy is an intention to pay a consistent stream of dividends to shareholders. To date the Company has generated over $54m in gross dividend income for shareholders. All historic dividends have been fully franked.

The management of the fund is undertaken by Westoz Funds Management Pty Ltd (AFSL 285607), a 100% owned subsidiary of Euroz Limited.

Westoz Funds Management is uniquely West Australian focused with the aim of exploiting the significant local experience and knowledge base contained within the Fund Manager and the wider Euroz Limited group of companies.

Euroz Limited is invested alongside shareholders via a 40% shareholding in Ozgrowth Limited.

Company Snapshot

Share Price
$0.160

Latest NTA per Share (pre-unrealised tax)
$0.195

Investment Performance Since Inception *
7.3%

Current Year Target Dividend
0.005

Yield on Target Dividend
3.1%

* annualised return before allowance for fees and taxes

News and Insights

Further Information

Further information on Ozgrowth Limited is provided below.

If you have any specific queries that cannot be answered from the information provided, please feel free to contact us at admin@ozgrowth.com.au

Ozgrowth Limited regularly releases updates on its net Tangible Asset Backing per share and its portfolio composition.

Our latest monthly update is available here:

Latest Monthly

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

All our lodged announcements are available here:

 

12/12/2018
Weekly NTA Update

05/12/2018
Daily share buy-back notice - Appendix 3E

05/12/2018
Weekly NTA Update

04/12/2018
Net Tangible Asset Backing

30/11/2018
Share Cancellation

28/11/2018
Weekly NTA Update

22/11/2018
Daily share buy-back notice - Appendix 3E

21/11/2018
Weekly NTA Update

15/11/2018
Daily share buy-back notice - Appendix 3E

14/11/2018
Weekly NTA Update

08/11/2018
Results of Meeting

08/11/2018
Chairman's Address to Shareholders

08/11/2018
AGM Presentation

07/11/2018
Weekly NTA Update

02/11/2018
Net Tangible Asset Backing

31/10/2018
Weekly NTA Update

24/10/2018
Weekly NTA Update

17/10/2018
Weekly NTA Update

10/10/2018
Weekly NTA Update

05/10/2018
Notice of Annual General Meeting/Proxy Form

05/10/2018
Appendix 4G and Corporate Governance Statement

05/10/2018
Annual Report to shareholders

03/10/2018
Weekly NTA Update

02/10/2018
September Quarter Update

28/09/2018
Appendix 3B

28/09/2018
Share Cancellation

26/09/2018
Weekly NTA Update

19/09/2018
Weekly NTA Update

17/09/2018
Daily share buy-back notice - Appendix 3E

12/09/2018
Weekly NTA Update

05/09/2018
Weekly NTA Update

04/09/2018
Net Tangible Asset Backing

31/08/2018
Appendix 3B

29/08/2018
Weekly NTA Update

23/08/2018
Appendix 4E and Full Year Statutory Accounts

22/08/2018
Weekly NTA Update

21/08/2018
Update - Dividend/Distribution - OZG

15/08/2018
Weekly NTA Update

09/08/2018
Investor Presentation

08/08/2018
Weekly NTA Update

03/08/2018
Appendix 3B

02/08/2018
Net Tangible Asset Backing

31/07/2018
Share Cancellation

25/07/2018
Daily share buy-back notice - Appendix 3E

25/07/2018
Weekly NTA Update

24/07/2018
Westoz Funds Management Strengthens Team

18/07/2018
Weekly NTA Update

17/07/2018
Investor Briefings

11/07/2018
Weekly NTA Update

04/07/2018
Weekly NTA Update

03/07/2018
Dividend and Option Exercise Details

03/07/2018
Dividend/Distribution - OZG

03/07/2018
Net Tangible Asset Backing

29/06/2018
Share Cancellation

27/06/2018
Daily share buy-back notice - Appendix 3E

27/06/2018
Weekly NTA Update

27/06/2018
Dividend Update

20/06/2018
Weekly NTA Update

06/06/2018
Weekly NTA Update

04/06/2018
Net Tangible Asset Backing

31/05/2018
Appendix 3B

30/05/2018
Weekly NTA Update

23/05/2018
Weekly NTA Update

16/05/2018
Weekly NTA Update

09/05/2018
Weekly NTA Update

02/05/2018
Weekly NTA Update

02/05/2018
Net Tangible Asset Backing

30/04/2018
Share Cancellation

26/04/2018
Weekly NTA Update

18/04/2018
Weekly NTA Update

16/04/2018
Corporate Governance Statement

13/04/2018
Daily share buy-back notice - Appendix 3E

12/04/2018
Daily share buy-back notice - Appendix 3E

11/04/2018
Weekly NTA Update

04/04/2018
March Quarter Update

28/03/2018
Weekly NTA Update

21/03/2018
Weekly NTA Update

14/03/2018
Weekly NTA Update

07/03/2018
Weekly NTA Update

02/03/2018
Net Tangible Asset Backing

28/02/2018
Share Cancellation

28/02/2018
Weekly NTA Update

21/02/2018
Weekly NTA Update

20/02/2018
Daily share buy-back notice - Appendix 3E

15/02/2018
Update - Dividend/Distribution - OZG

14/02/2018
Weekly NTA Update

12/02/2018
Investor Presentation

08/02/2018
Half Yearly Report and Accounts

07/02/2018
Weekly NTA Update

02/02/2018
Net Tangible Asset Backing

31/01/2018
Appendix 3B

31/01/2018
Weekly NTA Update

24/01/2018
Weekly NTA Update

17/01/2018
Weekly NTA Update

16/01/2018
Investor Briefings

10/01/2018
Weekly NTA Update

04/01/2018
Dividend and Option Exercise Details

04/01/2018
Dividend/Distribution - OZG

03/01/2018
December Quarter Update

View ASX Announcements

INVESTMENT OBJECTIVE

The investment objective of the Company is to produce a consistent positive returns on its funds over the medium to long term, regardless of the general direction of the share market.

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, active management of a portfolio of equities can be used to generate an acceptable level of absolute return over a range of time frames

Due to the relative levels of research coverage by the market, Ozgrowth also believes that companies outside of the Top 100 will experience greater deviation from fair value.

A medium to long-term investment horizon is required and large non-investment driven cash flows can adversley 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 Philisophy.

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 anticpated 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 necesaary 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.

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.

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.
Mr Jay Hughes - Chairman

Mr Hughes commenced as a Director of the Company in 2007 and assumed the role of Non-Executive Chairman in October 2013.

Between 1986 and 2000, Mr Jay Hughes was employed by a Perth stockbroker that was part of a national and international group at the time.  From 1994 he acted in the capacity of an Executive Director and before this as an Associate Director.

From 2000 until the present date, Mr Hughes has worked for Euroz Securities Limited and Euroz Limited and also acts in the capacity of Executive Director and Responsible Officer of both companies.  During this time, Mr Hughes has been involved in the institutional sales department of the stockbroking business dealing predominantly with offshore funds.  He is also heavily involved in many facets of the management and supervision of both companies.

Mr Hughes is also Non – Executive Chairman of Westoz Investment Company Limited.

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 Securities and Derivatives Industry Association.

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

Mr Michael Jefferies - Independent Director

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 Director

Mr Simon Joyner  is an Independent Non-Executive Director of the Company.

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 Westoz Investment Company Limited.

Mr Hewett commenced his career in financial services in 2000 and has served as a Company Secretary since 2005 until present for a number of Western Australian based listed, unlisted, not-for-profit, and private organisations.

In addition to his company secretarial roles, over his 18 year career in the diversified financial services, and property sectors Mr Hewett has developed considerable experience in a variety of managerial, operational, and risk and compliance oriented roles.

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).

 

Ozgrowth Limited recognises the importance of dividend payments to its investors.  It has a dividend policy in place whereby it intends to pay a consistent stream of dividends to shareholders.  It will also provide periodic guidance as to the level of expected dividend payments.

The following table shows dividend payments made to date:

Ex Date Date Paid Dividend (cents) Franking Level DRP
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%
2 August 2013 15 August 2013 1.00 100%
14 January 2013 01 February 2013 0.50 100%
2 August 2012 16 August 2012 0.80 100%
25 January 2012 15 February 2012 0.20 100%
3 August 2011 16 August 2011 1.20 100%
25 January 2011 15 February 2011 0.50 100%
3 August 2010 16 August 2010 1.10 100%
25 January 2010 15 February 2010 0.30 100%
6 August 2008 22 August 2008 0.20 100%

 

Our portfolio is managed by Westoz Funds Management Pty Ltd (AFSL 285607).

More detail on the manager is available here.

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

You can view each years report using the following tabs:

 

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

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

A range of useful shareholder documents is available below.

If you require further assistance or cannot locate the document you are after, our share registry, Computershare Investor Services Pty Ltd (phone: 1300 749 533) may be of assistance.

Dividend Reinvestment Plan Details
Dividend Reinvestment Plan Form
Aug 2019 $0.19 Option Exercise Form
Ozgrowth Initial Prospectus

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