The Trust will invest in a diversified portfolio of companies listed (or soon to be listed) on the ASX, which Perennial Value, the Investment Manager, believes have sustainable operations and collectively offer a superior dividend yield (when taking into account franking credits) to the overall market.

The aim of the Trust is to provide investors with an attractive level of tax effective income, paid via monthly distributions. The Trust aims to provide a distribution yield, adjusted for applicable franking credits, above that provided by the S&P/ASX 300 Franking Credit Adjusted Daily Total Return Index (tax exempt).

Benefits of investing in the Perennial Value Shares for Income Trust

The significant benefits of investing in the Trust include:

Access to investment opportunities

Investing in the Trust means that your money is pooled with that of other investors. This provides the Trust with the investment buying power not often available to you as an individual investor with smaller amounts to invest. This means you can gain access to investment markets and risk management techniques that would not normally be accessible to individual retail investors.

Professional management

Perennial Value's investment professionals manage the Trust using a disciplined investment approach aimed at delivering returns in excess of the relevant benchmark.

Right to distributions (if any)

Investing in the Trust means you may receive regular income from your investments in the Trust in the form of distributions. However, there may be times when distributions cannot be made, or are lower than expected.

Easy access to your information

For the latest available information on the Trust, you can visit www.perennial.net.au, log on to Perennial Online, contact a Client Services Representative on 1300 730 032

(+612 8274 2777 New Zealand), email invest@perennial.net.au or speak to your financial adviser.

Risk level

High

Investor suitability

The Trust may be suitable for investors with an investment horizon of five or more years, who are seeking regular tax effective income through the provision of monthly distributions.

The Trust may be suitable for investors with an investment horizon of five (5) or more years, who are seeking regular tax effective income through the provision of monthly distributions.

About the Fund

The portfolio invests in a well-diversified range of publicly listed companies listed (or soon to be listed) on the ASX, which we believe have sustainable operations and collectively offer a superior dividend yield (when taking into account franking credits) to the overall market. We will aim to keep the Trust's net realised capital gains to a minimum. The portfolio will typically hold in the range of 20 to 70 stocks.

Objective

We aim to provide investors with an attractive level of tax effective income, which the Trust aims to pay via monthly distributions. The portfolio aims to provide a dividend yield, adjusted for applicable franking credits and before fees, above that provided by the S&P/ASX 300 Accumulation Index.

How we invest your money

The Trust will invest in a diversified portfolio of companies listed (or soon to be listed) on the ASX, which Perennial Value, the investment manager, believes have sustainable operations and collectively offer a superior dividend yield (when taking into account franking credits) to the overall market.

The portfolio will typically hold in the range of 20 to 70 stocks.

The Trust is authorised to utilise derivative instruments for risk management purposes, subject to the specific restriction that they cannot be used to gear portfolio exposure.

For reasons of investment efficiency, the Trust may gain its exposure by holding units in other Perennial Trusts and/or through direct investment holdings.

Asset classes and asset allocation ranges

• Australian equities: 80%-100%

• Cash: 0%-20%

The Trust aims to be fully invested at all times, with cash exposure not exceeding the limit for any length of time.