Income-focused listed vehicles rarely generate headlines, but Solaris Australian Equity Income Plus (ASX:SET) is worth noting for a simple reason: it is new. The listed Investment company was incorporated on 13 February 2026 and began trading on the ASX on 17 April 2026, making September 2026 one of its first months with a distribution record to examine. It is managed by Brisbane-based Solaris Investment Management, a firm with more than 25 years in Australian equities. For investors weighing franked income options, the question is how a freshly listed structure delivers on an established strategy.

Latest Development

The company published its August 2026 investment update on 11 September 2026, alongside its daily net Tangible Asset backing statement. Daily NTA disclosure has been a consistent feature since listing, with statements lodged on 8, 9, 10 and 11 September 2026.

More materially for income holders, a Dividend of 0.3 cents per share, fully franked, carried an ex-date of 20 August 2026 and was paid on 31 August 2026. A further ex-date of 17 September 2026 has been set, with books closing the following day — consistent with the monthly payment rhythm the company said it intended to begin in August 2026.

Company Overview

Solaris Australian Equity Income Plus is a listed investment company holding a diversified portfolio of 40 to 70 ASX-listed securities. It applies the same approach the manager has run in its unlisted Solaris Australian Equity Income Fund since 2016, though fees, costs and distribution policy differ between the two, so outcomes will not be identical.

The stated objectives are twofold: generate franked income above the S&P/ASX 200 Franking Credit Adjusted Daily Total Return Index, and produce total returns broadly in line with or exceeding that benchmark. Solaris Investment Management is majority owned by its employees and uses a multi-portfolio-manager structure in which sector analysts run their own sleeves.

Shares trade like any ASX listing and the vehicle is accessible through platforms including HUB24, Netwealth and Macquarie Wrap. Automic Group acts as registry and Pitcher Partners Sydney Corporate Finance as auditor.

Financial and Operational Position

The management fee is 0.85 per cent a year plus GST, with no performance fee attached. Market Capitalisation was about A$203 million as at 11 September 2026.

What Investors May Watch Next

The monthly dividend sequence is the most visible near-term item, with the 17 September 2026 ex-date the next marker. Beyond that, the relationship between share price and net tangible assets will show whether the vehicle trades at a premium or discount, a persistent issue for listed investment companies. Monthly investment updates and the pace at which franking is delivered against target will also be followed.

Risks

As an equity portfolio, the vehicle carries full Market Risk and its income depends on the dividends and franking generated by underlying holdings. Franking credit value varies with an investor's own tax position. Newly listed investment companies can trade below net tangible asset backing, and a short operating history gives little basis for judging performance through a full cycle. Concentration in a 40 to 70 stock portfolio means individual holdings can matter.

Conclusion

Whether Solaris Australian Equity Income Plus is one to follow in September 2026 may hinge on execution rather than novelty. The strategy behind it has a decade of history in unlisted form, the fee structure is straightforward, and monthly franked distributions have started. What remains untested is how the listed wrapper behaves — how its shares track net asset backing, and whether income delivery holds through changing market conditions.