He said investing in an ultra-low rate environment posed a risk for income investors, but that positive trends in population growth, infrastructure spend and superannuation growth would continue to provide tailwinds for stocks within the fund’s portfolio.
Net profit including special investment revenue for the half was reported at $25.5m, a near halving of the previous period which was bolstered by special dividends shelled out amid a fear of franking cuts and after the demerger of Coles and Wesfarmers. BKI’s biggest special investment revenue received during the period was from Brambles, Coles and Telstra.
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