|Company Name||% of Total Stock Portfolio|
|1||National Australia Bank||9.0%|
|3||Westpac Banking Corporation||7.3%|
|5||ANZ Banking Limited||4.6%|
|6||BHP Billiton Limited||4.50%|
|8||TPG Telecom Corporation||4.10%|
|9||New Hope Corporation||3.20%|
|12||Transurban Group Limited||2.20%|
|13||AGL Energy Limited||2.1%|
|16||Woodside Petroleum Limited||1.60%|
|17||Suncorp Group Limited||1.60%|
|18||Ramsay Health Care||1.50%|
|21||Primary Healthcare Limited||1.40%|
|22||Coca-Cola Amatil Limited||1.30%|
|25||Sonic Healthcare Limited||1.20%|
|Cash and cash equivalents||4.6%|
|Total of Top 25 including|
cash and cash equivalents
Our aim is to create wealth for BKI shareholders, through an increasing fully
franked dividend and capital growth.
BKI is a research driven, active equities manager investing for the long term in profitable, high yielding, well managed companies. An investment in BKI gives shareholders access to a diversified equity portfolio across most sectors of the market. BKI is managed for the benefit of shareholders, not charging external portfolio management fees or performance fees.
Net Tangible Asset Backing
The consolidated unaudited pre tax net asset backing at 31 May 2015 was $1.73 per share.
The company is a long-term equity investor and does not intend to dispose of its total portfolio. If estimated tax at 30% on unrealised portfolio gains were to be recognised, net asset backing post tax would be $1.59 per share.
BKI aims to generate an increasing income stream in the form of fully franked dividends, to the extent of available imputation tax credits, through long-term investment in a portfolio of assets that are also able to deliver long term capital growth to shareholders. All dividends paid have been fully franked.
As at 31 May 2015, BKI’s fully franked dividend yield was 4.1% (based on the immediate past 12 Month rolling dividend** and share price of $1.72), while the grossed up yield was 5.9% (based on a tax rate of 30%).
Management Expense Ratio (MER)
BKI’s MER as at 31 December 2014 was 0.16%. BKI does not charge shareholders external management or performance fees.
Board and Management
Directors: Robert Millner (Chairman), Alex Payne, David Hall and Ian Huntley.
Management: Tom Millner (CEO), Will Culbert (Senior Investment Analyst) and Jaime Pinto (Company Secretary).