Perpetual Global Innovation Share Fund (Managed Fund) (ASX:IDEA)

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The Perpetual Global Innovation Share Fund has an unquoted unit class and an ASX quoted unit class. 

IDEA is a unit class in the Perpetual Global Innovation Share Fund and is quoted and traded on the ASX as an Exchange Traded Managed Fund (ETMF). The Perpetual Global Innovation Share Fund is an actively managed fund that aims to invest in a portfolio of shares in global companies that are benefiting from technological change and innovation.

We believe the market is often inefficient at pricing companies where rapid change is occurring, and that by focusing our efforts on understanding new innovations early, it provides us the opportunity to exploit this inefficiency to find undervalued and underappreciated companies.

We do not try to predict where markets and prices are heading, but instead, seek to buy companies at prices below what we perceive to be fair value given each company’s fundamentals and the prevailing market conditions. We expect that the share price of these companies will rise once the mispricing is recognised by the market.

INVESTMENT OBJECTIVE

The fund aims to:

  • Provide investors with long-term capital growth through investment in global shares that are benefiting from changes in technology and innovation.
  • Outperform the MSCI All Countries World Net Total Return Index (AUD) (before fees and taxes) over rolling three year periods.

Features & Benefits:

  • Stock Picking Skills. We use our experience, insights, and skills to identify the companies we believe have the greatest potential.
  • Insights by Experts. Access to an experienced Portfolio Manager and investment team with strong global relationships, using a unique network of information.
  • Best Ideas Portfolio. A high conviction portfolio – which means we build a concentrated portfolio of our best ideas.
  • Robust Portfolio Construction. Seeking to build a resilient portfolio, managing the portfolio as if every day is a new day, because it is.
  • Direct access via the ASX to an actively managed, diversified portfolio - based on Perpetual’s proven investment philosophy and approach.
  • Ease of access as you can purchase and sell ETMF units through licensed brokers without lengthy paperwork and there is no set minimum investment amount.



Thomas Rice

Thomas Rice, Portfolio Manager of the Perpetual Global Innovation Share Fund, on the stocks driving innovation.

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WHAT ARE THE RISKS?

All investments carry risk. While it is not possible to identify every risk relevant to your investment, we have provided details of the risks that may affect your investment in the relevant product disclosure statement (PDS).

You can find PDSs and other documents in our resources section. The relevant PDS and other documents can also be found here.


Perpetual Global Innovation Share Fund (Managed Fund)

Pricing & Performance

ASX Announcements

Announcement Date  
Monthly Units on Issue and Redemptions - July 2022 08/08/2022 Download PDF
Monthly Investment Update - June 2022 20/07/2022 Download PDF
Monthly Units on Issue and Redemptions - June 2022 07/07/2022 Download PDF
Announcement of No Distribution Payable - June 2022 30/06/2022 Download PDF
Monthly Investment Update - May 2022 17/06/2022 Download PDF

Please click here to go to the full list of announcements.

NAV per unit as at 11/08/2022

2.278
View NAV history

iNAV as at

A$

Intra-day iNAV per unit#

Fund Commencement Date

November 2021

Fund Profile

Target Market Determination (TMD)

Indicative NAV (iNAV) per unit

# An indicative NAV per Unit (iNAV) for IDEA is published above and updated throughout the ASX Trading Day. The iNAV will be based on the latest mid price of each security, and will take into account proxies (including futures) where a live price is unavailable (for example, if the relevant market is closed). The iNAV reflects the real time movements in stock markets and currencies during the ASX Trading Day and, for securities not trading during the ASX Trading Day, listed proxy instruments selected on the basis of correlations with the underlying investments. The proxies and their correlations with underlying instruments are reviewed regularly and updated as required.

The iNAV represents the best estimate by the Responsible Entity or its appointed agent, IHS Markit of the value per unit in IDEA throughout the trading day. No assurance can be given that the iNAV will be published continuously or that it will be up to date or free from error. To the extent permitted by law, neither the Responsible Entity nor its appointed agent shall be liable to any person who relies on the iNAV.




Frequently Asked Questions

IDEA is a unit class in the Perpetual Global Innovation Share Fund and is quoted and traded on the ASX as an Exchange Traded Managed Fund (ETMF). The Perpetual Global Innovation Share Fund is a hand-picked portfolio of shares in global companies that are benefiting from technological change and innovation.

IDEA will be quoted on the ASX, so investors can buy and sell IDEA on the ASX at the prevailing market price through a stockbroker, share trading account or other securities trading platform, much like the process for buying and selling shares.

Generally, a Holder Identification Number (HIN) will be issued to you which allows you to view your ETMF holdings alongside any other listed investments you have.

An indicative net asset value (iNAV) per unit will be published for IDEA during ASX trading hours. See top of this page. The iNAV reflects the estimated NAV per unit during the ASX trading day. It provides a reference point to assist investors in understanding if they are purchasing or selling units in the EMTF at, or close to the NAV per unit.


Although all four investment vehicle types are traded on the market, there are differences between the products. 

Exchange traded managed funds such as IDEA have a unit trust structure which are actively managed and open-ended, which means that new units are issued, and existing units are cancelled based on investor demand and capital flows.

A typical Australian exchange traded fund (ETF) likewise has a trust structure and is open-ended but is not actively managed. Instead, an ETF tracks a market index.

Listed Investment Trusts (LITs) are listed, collective investment vehicles. They are incorporated as trusts and have a closed end structure which means the number of units they issue is fixed. The unit price of a LIT may differ from the underlying value of the LIT’s portfolio of investments.

Listed investment companies (LICs) are closed-ended investment vehicles that are established in the form of a company. They do not regularly issue new shares or cancel existing shares, and so their cash flows and hence investment decisions are not impacted by daily fund inflows and outflows (as is the case for managed funds). However, the share price of a LIC may differ from the underlying value of the LIC’s portfolio of investments.


The Perpetual Global Innovation Share Fund has two unit classes:

  1. Unquoted class – investors can apply for units in this class by applying under the Perpetual Wholesale Funds product disclosure statement and completing the application form or by directing a platform operator to lodge an application. An investor may also redeem by transacting online through myPerpetual or sending us a completed withdrawal form, or directly a platform operator to lodge a withdrawal request.
  2. Quoted class offered as the Perpetual Global Innovation Share Fund (Managed Fund) (ASX: IDEA) – investors can buy and sell units in this unit class on the ASX via their stockbroker, share trading account or other securities trading platform.

The same investment objective and investment strategy applies for both unit classes and is managed by Portfolio Manager, Thomas Rice. Performance and returns of the unit classes may differ due to different tax treatments, fees and costs. For more information, investors can access the Fund Profile for each unit class on the Perpetual website and read the relevant product disclosure statement. The Target Market Determination is also available on the Perpetual website.


ETMFs trade, clear and settle in the same way as ASX-listed shares. Investors do not need to complete an application form or withdrawal form. Perpetual does not require an investor to apply for a minimum number of units or dollar amount in IDEA.

  1. Do your research
    - Read the PDS available here.You should read the PDS before making any decision on how to invest in the ETMF. 
    - Learn more about IDEA by visiting www.perpetual.com.au/idea or contacting us
  2. Contact or access your ASX stockbroker (full service or online) to place a buy order for the ETMF.

None, if you have an existing stockbroking account. Otherwise, refer to a stockbroker for paperwork required.


The price at which you buy and sell units in IDEA on the ASX will be the prevailing market price for IDEA at the time of the transaction. 

The market price is generally designed to trade in line with net asset value (NAV) or the indicative net asset value (iNAV) of IDEA. The iNAV per unit will be updated for price movements of an ETMF’s investments through live market prices and if applicable, foreign exchange movements. There may be securities held by the ETMF that do not have live market prices during the trading day, in which case (for those securities only), the iNAV will generally reflect only what is considered the best estimate of fair value for such securities. The iNAV provides a  reference point to assist investors in understanding if they are purchasing or selling units in the ETMF at, or close to the NAV per unit.

The iNAV and NAV per unit of IDEA are published on Perpetual’s website (see top of this page).


A market maker is responsible for providing liquidity in the ETMF so that investors can buy and sell when they choose to do so. Perpetual, in its capacity as responsible entity of the Fund, intends to act as market maker for GIVE. Perpetual has appointed a market making agent to assist with this role. Market maker agents will quote bid and offer prices and volumes on the ASX throughout the trading day. Their role is designed to ensure that the ETMF trades in line with the NAV or iNAV of the ETMF. 

IDEA has a management fee of 0.99% p.a. plus a daily performance fee of 20% of the difference between IDEA’s daily return and its performance hurdle multiplied by IDEA’s adjusted net asset value. The performance hurdle for IDEA is the MSCI All Countries World Net Total Return Index (AUD).

Refer to the ETMF PDS for further information on the fees for IDEA and how the performance fee works.


For enquiries about your holdings in IDEA, please contact the Unit Registry, Link Market Services:

Email: perpetualetmf@linkmarketservices.com.au

Phone: 1800 635 323 (8:30am to 5:00pm – Monday to Friday excluding public holidays)

 

Access the Link Investor Centre by visiting https://investorcentre.linkmarketservices.com.au/Login/Login

In the Investor Centre, you can:

  • Register your Australian bank account details so that distribution payments can be made to you
  • Register your TFN, ABN or exemption notification
  • Choose whether you wish to participate in the Distribution Reinvestment Plan (DRP)
  • Provide your tax residency details by completing your FATCA/CRS self-certification
  • Elect your communication preference – email or post
  • Access distribution and tax statements
  • Contact a Link representation via virtual chat if you have any need any assistance

For all fund related enquiries, please contact Perpetual Asset Management Australia.

Email: investments@perpetual.com.au

Phone: 1800 022 033


HAVE ANY QUESTIONS? Call us on 1800 022 033

We are here to help you with any enquiries regarding Perpetual Investment products and services, including WealthFocus and your investments

The information on this website has been prepared by Perpetual Investment Management Limited ABN 18 000 866 535 AFSL 234426 (Perpetual), as the issuer of the Perpetual Global Innovation Share Fund (Managed Fund) (ASX: IDEA) (ETMF). It is general information only and is not intended to provide you with financial advice or take into account your objectives, financial situation or needs. You should consider with a financial adviser whether the information is suitable for your circumstances. To the extent permitted by law, no liability is accepted for any loss or damage as a result of any reliance on this information. 

The product disclosure statement for the ETMF should be considered before deciding whether to acquire or hold units in the ETMF. The ETMF’s PDS and Target Market Determination are available on this website. 

Investment returns, net of management costs have been calculated on the growth of Net Asset Value (NAV) after taking into account all operating expenses (including management costs) and assuming reinvestment of distributions on the ex-date. Distribution return has been calculated based on the ETMF’s investment portfolio return less the growth of NAV. Future returns may bear no relationship to the historical information displayed. The returns shown represent past returns only and are not indicative of future returns of an ETMF. Returns on an ETMF can be particularly volatile in the short term and in some periods may be negative.

The indicative Net Asset Value (iNAV) calculations shown on this website are provided by IHS Markit and updated during ASX trading hours. The iNAV should not be taken to be or relied upon to determine the price at which the units may trade on ASX at any point in time. The iNAV is provided for reference purposes only. 

Neither IHS Markit, its affiliates nor any of its third party data providers makes any warranty, express or implied, as to the accuracy, completeness or timeliness of the data contained herein nor as to the results to be obtained by recipients. IHS Markit has no obligation to update, modify or amend this data or to otherwise notify a recipient if any data changes or subsequently becomes inaccurate. Without limiting the foregoing, neither IHS Markit, its affiliates nor any third party data provider shall have any liability whatsoever to you, whether in contract (including under an indemnity), in tort (including negligence), under a warranty, under statute or otherwise, in respect of any inaccuracies, errors or omissions, or any loss or damage suffered by you as a result of or in connection with the IHS Markit data contained herein. All intellectual property and other proprietary rights comprised in the IHS Markit data are and shall be the exclusive property of IHS Markit.

No company in the Perpetual Group (Perpetual Limited ABN 86 000 431 827 and its subsidiaries) guarantees the performance of the ETMF or the return of an investor’s capital.  Perpetual does not give any representation or warranty as to the currency, reliability, completeness or accuracy of the information contained on this website.  To the extent permitted by law, no liability is accepted for any loss or damage as a result of any reliance on this information. Past performance is not a reliable indicator of future performance.