The Directors advise that the unaudited net tangible asset backing of the Company's ordinary shares at 31 March 2021 was $9.67 per share (28 February 2021 $9.40 per share). The net asset backing calculation is based on investments at market value, is after tax on net realised gains, before any future tax benefit of net realised losses and before estimated tax on net unrealised gains/losses.
Australian United Investment Company Limited is a long-term investor and does not intend disposing of its total portfolio. However, under current accounting standards the Company is required to provide for estimated tax on any net gains that would arise on such a theoretical disposal. After deducting this provision, the above figure would be $8.21 (28 February 2021 $8.00).
At 31 March 2021:
The Company had bank facilities of $150M, drawn as to $130M;
Cash and net short term receivables were $33M.
A list of the Company's top 25 investments is attached.
Authorised by:
A J Hancock
Company Secretary
AUSTRALIAN UNITED INVESTMENT COMPANY LIMITED
25 LARGEST SHAREHOLDINGS
AS AT 31 MARCH 2021
As at 31 March 2021 the twenty-five largest shareholdings of the company, at market values were:
Company
Market Value
% of Market Value of
$'000
Total Investments
1.
Commonwealth Bank of Australia
111,930
8.4%
2.
CSL Ltd
105,860
7.9%
3.
BHP Group Ltd
90,600
6.8%
4.
Rio Tinto Ltd
83,063
6.2%
5.
Transurban Group
74,192
5.5%
6.
Wesfarmers Ltd
69,524
5.2%
7.
Australia & New Zealand Banking Group Ltd
69,041
5.2%
8.
Diversified United Investment Ltd
67,680
5.0%
9.
Westpac Banking Corporation
53,678
4.0%
10.
Woodside Petroleum Ltd
49,200
3.7%
11.
Atlas Arteria
41,502
3.1%
12.
Woolworths Ltd
40,870
3.1%
13.
Washington H Soul Pattinson & Co Ltd
36,317
2.7%
14.
Sydney Airport
33,426
2.5%
15.
National Australia Bank
29,380
2.2%
16.
Aristocrat Leisure Ltd
27,480
2.1%
17.
Ramsay Health Care Ltd
26,800
2.0%
18.
Seek Ltd
22,808
1.7%
19.
Coles Group Ltd
21,133
1.6%
20.
Link Administration Holding Ltd
20,520
1.5%
21.
Challenger Ltd
19,200
1.4%
22.
Resmed Inc.
18,938
1.4%
23.
Carsales.Com Ltd
17,810
1.3%
24.
Event Hospitality and Entertainment Ltd
17,220
1.3%
25.
Brambles Ltd
17,193
1.3%
1,165,365
87.1%
Total Investments at Market Value, Net Short-
Term Receivables and Cash
1,338,680
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Disclaimer
Australian United Investment Company Limited published this content on 08 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 April 2021 07:19:05 UTC.
Australian United Investment Company Limited is an Australia-based investment company. The Companyâs objective is to take a medium to long term view and to invest in a diversified portfolio of listed Australian equities, which have the potential to provide income and capital appreciation over the longer term. The Companyâs investment objectives are to create and maintain a diversified portfolio of Australian companies, primarily through shares listed on the Australian Stock Exchange (ASX), with a medium to long term view of providing income and capital appreciation; to actively manage the portfolio to monitor and reduce risks and identify market opportunities as they arise; and to provide dividend income to shareholders, which is sustainable over the long-term, maintaining full franking when possible. It invests in various sectors, such as banks, consumer, energy, healthcare, infrastructure and utilities, industrials, mining, other financials, property, and transportation.