New IPO Opportunity
Plato Income Maximiser Limited (PL8)

Capital Raise (Min) $75,000,000
Capital Raise (Max) $330,000,000
Investment Fees 0.82% (incl. GST/RITC)
Issue Price $1.10
Options 1:1
Strike of $1.10
Expiry 29/04/2019
Open Date 09/03/2017
Closing Date 5pm 21/04/2017
Listing Date 05/05/2017*

*Estimated date

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The Company has been established to provide its shareholders the opportunity to benefit from an investment in an actively managed, well-diversified portfolio of Australian listed equities, that aims to:

(i) generate annual income (including franking credits) in excess of the S&P/ASX 200 Franking Credit Adjusted Daily Total Return Index (Tax Exempt) (Benchmark); and
(ii) outperform (after fees) the Benchmark in total return terms including franking credits over each full investment cycle (which the Manager considers to be a period of typically 3 to 5 years).

The Company aims to pay regular monthly dividends (once it has sufficient profit reserves and provided each payment is permitted by law and within prudent business practice to do so). This is not intended to be a forecast; it is merely a statement of the future intentions. The Company may not be successful in achieving this aim.

First LIC to pay monthly franked dividends.

High Levels of Income and Franking

Highly Experienced Investment Professionals, Portfolio Managers, and Quantitative Analysts

Modelled on successful Plato Australian Shares Income Fund strategy which delivered 9.0% p.a. income and a 14.0% p.a. total return since inception to 31 December 2016

Majority Employee-Owned Firm

Awarded Winning Innovator in Equity Income and After Tax Portfolios

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RETURN PROFILE*

*Performance might vary for a number of reasons, including:

– the management fees payable by the Company to the Manager (0.82% p.a. of value of the Company’s investments inclusive of GST and RITC) are lower than that payable by ordinary unitholders in the Plato Fund 0.90% p.a. of the net asset value of the Plato Fund inclusive of GST and RITC).
– the Company will incur certain costs, given its status as an ASX listed entity, that are not applicable to the Plato Fund (for example, ASX listing fees and share registry costs).
– the Company has a higher degree of flexibility in terms of distributions when compared with trusts (such as the Plato Fund) which, subject to available profits and franking credits, allows the Board to smooth dividend payments. Conversely, the Plato Fund is required to distribute to unitholders all of their taxable income and realised net capital gains at the end of each financial year, which can lead to fluctuations in the amount of distributions made.
– the Company will issue Options to investors that participate in the Offer. Options that are exercised may
dilute the NTA of the Company and lead to variations in performance.

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INVESTMENT TEAM

Dr Don Hamson

Managing Director

Don has twenty five years investment management experience and founded the Manager in 2006. Don is an equity holder in the Manager. Don has considerable experience at managing equity portfolios. Don has written a number of white papers on after tax investing and has spoken at many conferences and seminars on this subject.

Prior to founding the Manager, Don was Head of Active Equities, Asia Pacific and a member of the global Senior Management Group at State Street Global Advisors, responsible for over $10B in active and enhanced equity investments.

Don previously held various positions at Westpac Investment Management, including Chief Investment Officer, Head of Equities where he managed the $1B Tax Effective Share Fund, a Westpac appointed director on the board of Hastings Funds Management and was instrumentally involved in the mergers of BT and Rothschild. Prior to Westpac Don was a
senior analyst at Queensland Investment Corporation.

Don was a Lecturer in Finance at the University of Queensland (UQ) for 6 years, and was a Visiting Assistant Professor at the University of Michigan Business School. Don has a PhD in
Finance and a Bachelor of Commerce with First Class Honours and a University Medal from the University of Queensland.

Todd Kennedy

Senior Portfolio Manager

Todd joined Plato in the first quarter of 2011. Todd was previously Head of Asia Pacific ex Japan Active Equities at State Street Global Advisors, where he managed a team of 7 portfolio managers in Hong Kong and Sydney.

At State Street he was responsible for driving research into quantitative stock selection models, alpha generation, portfolio construction and ESG development.

Todd previously worked as a client support consultant at Barra specialising in portfolio construction, quantitative risk analysis and performance attribution. Previous to Barra Todd has worked as Head of Equity Derivative Research Asia Pacific ex Japan at Merrill Lynch, producing research and providing quantitative support for global sales, trading and proprietary desks. Todd has also held positions at the Sydney Futures Exchange, the Australian Stock Exchange (ASX) and Ord Minnett over his 19 year plus financial career.

Todd has a Bachelor of Science (Griffith University), Graduate Diploma of Applied Finance (SIA) and a Master of Applied Finance (Macquarie) where he presented his thesis for prediction of futures markets movements with an artificial intelligence expert system.

Manoj Wanzare

Senior Portfolio Manager

Manoj joined Plato in April 2007. Manoj was formerly Director, Quantitative Portfolio Manager at Hachibushu Capital in Japan where he was responsible for designing, developing and managing a quantitative long short Asia Pacific (including Australia) strategy within a multiple strategy hedge fund.

Manoj previously worked as a Quantitative Analyst at Nikko Citigroup, Tokyo where he was responsible for researching and developing trade ideas using quantitative models. Manoj has a Bachelor of Engineering (Computer Science) First Class with Distinction from the University of Poona, India, and an MBA from McGill University, Canada. His master’s thesis was titled “Sector Rotation Model for the Japanese Market.

Dr Peter Gardner

Senior Portfolio Manager

Peter is a founder and equity holder of the Manager and has 11 years investment experience. Peter specialises in managing Australian equity income portfolios and also conducts quantitative research.

Peter has a PhD from The University of New South Wales where his thesis topic was behaviour of Australian active investment managers. Peter also completed a Bachelor of Commerce degree at the University of New South Wales, majoring in Finance and Actuarial Studies and receiving First Class Honours in Finance. He received a UNSW Co-op Scholarship in Actuarial Studies, which enabled him to complete industry training with Macquarie Bank and ING in their quantitative research divisions and at Mercer Investment Consulting in their
Superannuation division.

Dr Mark Thompson

Senior Portfolio Manager

Mark joined the Manager in January 2011. Mark is an equity holder in the Manager and has over 15 years of investment experience. Mark’s responsibilities include research, systems and portfolio management.

Prior to the Manager, Mark was a Senior Quantitative Research Analyst at GMO with responsibility for long-short and market neutral strategies. His research focus was primarily concerned with the quantitative implementation of equity valuation models and portfolio construction.

Mark was previously a Quantitative Portfolio Manager in Active Australian Equities at State Street Global Advisors. He was responsible for managing long-only and long-short strategies and contributed to process enhancements in the areas of risk analysis and transaction cost estimation among others.

Mark was also a Quantitative Research Analyst at Queensland Investment Corporation, where he was responsible for analysing and reporting levels and concentrations of active risk. There he developed a quantitative alpha factor model and portfolio optimiser which he used to generate portfolio recommendations for fundamentally oriented portfolio managers.

Mark has a PhD in Mathematics and a Bachelor of Science with First Class Honours from UQ, and holds the CFA designation.

Jonathan Whiteoak

Executive Director

Jonathan Whiteoak joined Plato at the beginning of 2015 with over 15 years of investment experience researching Australian, Asian and global equities, most recently as Head of the Advanced Research Center in Sydney within State Street Global Advisors.

At State Street, Jonathan undertook research into quantitative stock selection, the development of alpha forecasting models, and portfolio construction techniques covering long-only, long-short, and 130/30 style strategies. He also led a number of global taskforces involved with the development of global datasets of proprietary factors, and research into factor selection and dynamic active equity models. He has conducted research into alternative beta strategies, and Environment, Social and Governance (ESG) issues, including the development of methods to directly incorporate ESG signals into the portfolio construction process.

Jonathan has a Bachelor of Science degree with First Class Honours, majoring in physics, from The University of Sydney. He went on to obtain a PhD in the field of Astrophysics, with his dissertation involving a survey of the southern plane of our galaxy at radio frequencies, which resulted in the discovery of new celestial objects that led to publications in such scientific journals as “Nature”.

Daniel Pennell

Senior Portfolio Manager

Daniel joined the Manager in November 2015 and is primarily responsible for managing the
global portfolios. Daniel has over 16 years’ investment experience.

Prior to the Manager, Daniel was a Portfolio Manager at Realindex Investments, a subsidiary of Colonial First State group, focused on Smart Beta solutions for clients. As the lead manager, he was responsible for all Developed and Emerging Market equity products.

Daniel has also held positions at State Street Global Advisors in Sydney and London. In Sydney, Daniel worked in the Global Structured Products Group as a Senior Investment Manager. He was responsible for managing a broad range of strategies including ETFs, After Tax mandates, Smart Beta and optimised portfolios. In London, Daniel managed active strategies to a model portfolio and a range of global indexed products.

Daniel has a Bachelor of Science with Honours from the University of Birmingham and holds the Chartered Financial Analyst (CFA) designation. Daniel is a member of both the Chartered Financial Analyst Institute and the CFA Society of Sydney.

Wilson Thong

Quantitative Analyst

Wilson Thong has 14 years investment experience. He joins Plato from State Street Global Markets where he held the position of FX Consultant, responsible for the integration of the FX Connect trading platform within Australia. Prior to this,

Wilson held various roles within State Street Global Advisors, most notably as a Senior Quantitative Analyst within the Advanced Research Center. During his career at SSgA he participated in the development of proprietary factor libraries with global coverage, formed part of a global taskforce responsible for improving the suite of global active equity models, worked on dynamic equity models for the Australian market, as well as more broadly within the Asia Pacific developed and emerging markets, including the development and application of new methods designed to incorporate ESG signals into investment portfolios in a rigorous quantitative fashion. Wilson also brings with him considerable experience in the automation of production processes and in the application of advanced quantitative techniques.

Wilson has a BSc. (Computing Science) from UTS, and a Graduate Diploma of Applied Finance from FINSIA.

DOCUMENTS

Prospectus

Presentation

Fact Sheet

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Financial Services Guide

The offer described in this notice relates to the issue of new securities by the Issuer. A Prospectus for the offer is available and can be obtained from the Issuer’s website or by way of download from this website. The offer of securities will be made in, or accompanied by, a copy of the Prospectus. Nothing contained in this message and/or any attachment(s) constitutes a personal advice recommendation, solicitation or an offer to buy or sell any securities. Any recommendation or endorsement of this offer is general advice in nature and has not taken into account your personal circumstances or objectives. A person should consider the Prospectus in deciding whether to acquire the securities.

This notice does not constitute an offer or invitation in any place in which, or to any person to whom, it would not be lawful to make such an offer or invitation. The Prospectus does not constitute an offer to sell, or a solicitation of any offer to buy, securities in the United States. The Prospectus has been prepared for publication in Australia and New Zealand.