Elstree Investment Management Limited

AFSL 225721

Elstree Investments Fixed Interest Fund Managers

Elstree specialises in producing capital stable franked income returns.

Capital stable, franked income returns are the investment mantra of self-managed superannuation retirees.

At Elstree Investment Management Limited we cater for this mantra.

Our Funds, which invest in a diverse range of floating rate credit securities called hybrids, are designed to deliver capital stable franked income returns on a consistent basis.

We offer pooled products for retail and wholesale investors and individually negotiated mandates for institutional investors with a minimum investment designate of $20 million. We also offer Model Portfolio construction advice for IMA and SMA investors through dealer groups and platform providers.

Our products are ideal for;

(1) Self-managed retail and wholesale superannuants looking for capital stable franked income returns for the pension component of their superannuation portfolio,

(2) Not for profit entities that require stable franked income return outcomes and

(3) Institutional wholesale investors seeking to hedge inflation risk and looking for uncorrelated return outcomes.

Our Funds

Australian Enhanced Income Fund NAV (ASX Code AYF)

Latest: 30 September 2016. $5.97 (Ex-distribution $5.8825).
Previous 31 August 2016. $5.978.

Find Out More

To view the latest Monthly Review Click here

Elstree Enhanced Income Fund NAV

Latest: 11 October $0.7478
Previous: 4 October 2016 $0.7454.

Previous month end (30 September 2016) $0.7528. Ex-distribution $0.7435

Find Out More

To view the latest Monthly Review Click here

Latest Share Price AYF

Click here for up to date share price
(20 minute delay)

Latest Fact Sheets

Elstree Enhanced Income Fund. To view the latest Fact Sheet Click here

Australian Enhanced Income Fund. To view the latest Fact Sheet Click here

Latest Press. April 2016. Elstree in the ASX

To view the article produced by the ASX Click here

Crown Notes - a 2nd postscript (July 2016)

It was only a month or so ago that we wrote a piece on the Crown demerger and the implication for the 2 outstanding pieces of sub debt, CWNHA and CWNHB. In our piece we said that we were not surprised by the demerger and the resultant revaluation of the Notes.

We continue to believe the Notes are undervalued.

We base our view on the fact that there is an inconsistency between the pricing of senior debt issued by Crown and the Notes. At a spread margin of greater than 8% (based on the closing price of $85 on July 13) the CWNHB appears mispriced relative to senior debt issued by Crown at circa 2.1%. Perhaps the market is not as sanguine about Crown’s corporate message and the maintenance of an investment grade credit rating as we are.

In our piece we explain our thinking.

To view our thoughts in more detail Click here