Features of AMCIL
Shareholders have immediate access to:
- A concentrated portfolio with a mix of small and large companies.
- A Board and Investment Committee with extensive investment skills and practical business experience.
- A fund with no upfront fees or commissions to third parties - transaction costs will be borne when buying and selling Amcil shares through a stockbroker.
- Low management expense ratio relative to similar funds - 0.68% for the financial year to 30 June 2017.
- Effective capital management.
- Simplified taxation structure for shareholders, because AMCIL as a separate legal entity pays tax just like any other company, however the tax is small because companies receiving fully franked dividends do not need to pay any additional tax on the franked dividend. These fully franked dividends are typically passed straight through to shareholders in August of each year with the payment of the dividend. Unit trusts on the other hand typically have many components of income in their distributions like fully franked dividends, concessional capital gains tax, short-term capital gains, tax deferred components. All of which add to the complexity to unit holders tax returns.
- An active approach to keeping shareholders informed about the Company's activities and performance, including yearly and half yearly profit announcements and access to all company announcements, including net tangible asset announcements.