Perpetual Equity Investment Company Limited (ASX:PIC) has released its Monthly Investment Update and NTA Report for the period ending 31 October 2026, disclosing a post-tax net tangible asset backing per share of $1.155 and a pre-tax NTA of $1.152, with the investment portfolio returning 1.5% for the month against the S&P/ASX 300 Accumulation Index return of 1.1%.

Key Points

  • NTA after tax stood at $1.155 per share and NTA before tax at $1.152 per share as at 31 October 2026
  • The PIC investment portfolio returned 1.5% for the one-month period, producing excess returns of 0.4% over the benchmark
  • Market capitalisation was $415 million, with 386,403,499 shares on issue and a closing share price of $1.075
  • Annual dividend yield of 7.4% and grossed-up annual dividend yield of 10.6%, based on total dividends of 8.0 cents per share
  • 89.7% of capital was invested in securities as at 31 October 2026

NTA Figures and Key Fund Statistics at 31 October 2026

According to the filing, the company's NTA after tax was $1.155 per share and NTA before tax was $1.152 per share as at 31 October 2026. All NTA figures are unaudited and approximate, with before and after tax numbers relating to provisions for deferred tax on unrealised gains and losses of the investment portfolio. The company's market capitalisation was recorded at $415 million, with a share price of $1.075 and 386,403,499 shares on issue. The fund is managed by Perpetual Investment Management Limited, which charges a management fee of 1.00% per annum exclusive of GST.

Investment Performance Across Multiple Time Periods

The PIC investment portfolio returned 1.5% over one month, -0.2% over three months, 2.1% over six months, and -2.2% over one year. Over three years per annum the portfolio returned 8.3%, over five years per annum 3.7%, over seven years per annum 8.5%, and over ten years per annum 8.7%. Since inception on 18 December 2014, the annualised return stood at 8.3%. The S&P/ASX 300 Accumulation Index returned 8.8% per annum since inception. Returns are calculated on the growth of NTA after all operating expenses, assuming reinvestment of dividends and excluding tax paid.

Top Ten Stock Holdings and Portfolio Composition

The filing disclosed the top ten stock holdings by portfolio weight as at 31 October 2026. BHP Group Ltd was the largest holding at 5.6%, followed by Goodman Group at 4.3%, Rio Tinto Limited at 3.8%, Aspen Group Limited at 3.7%, and Washington H. Soul Pattinson at 3.6%. Glencore plc represented 3.3%, Insurance Australia Group Ltd 3.2%, Suncorp Group Limited 3.1%, Mainfreight Limited 3.1%, and Cobram Estate Olives Ltd 2.9%. Portfolio weights are based on direct investments in securities and do not include any derivative exposure. The company noted it is transitioning to monthly dividend payments.