Plato Income Maximiser - (ASX Code PL8)

The Plato Income Maximiser Limited (ASX: PL8), the first Listed Investment Company (LIC) managed by Plato Investment Management Limited (Plato) officially launched on the ASX on 5 May 2017.

The initial public offering offered Australian investors the opportunity to invest in an actively managed, diversified portfolio of Australian shares with an income focus.

The LIC's investment portfolio aims to generate annual income, including franking credits, in excess of the S&P/ASX200 Franking Credit Adjusted Daily Total Return Index (Benchmark), and outperform, after fees, the Benchmark in total return terms including franking credits over typically 3-5 years.

Dr Don Hamson, managing director of Plato Investment Management said: "In a low-return, low-rate market, retirees are looking for specialist, high-yield equities strategies to supplement traditional sources of income like cash and fixed income."

He added: "PL8 is the first Australian LIC targeting to pay monthly, fully-franked dividends, which will appeal to investors who require a dependable income stream from their investment portfolio, but want to avoid eating into their capital as they manage longevity risk. In this context, PL8 solves a common investor problem, and does so in an easily accessible product that is exchange-traded."

Key dates
Broker firm offer closed: 13 April 2017
General offer and priority allocation closed: 21 April 2017
Listed on the ASX: 5 May 2017