August Monthly Newsletter

  • August saw most Australian companies release their financial reports for the first six months of 2022. The month showed that Australian listed companies are in better health than feared, with more companies beating expectations and guidance than missing.
  • The Atlas High Income Property Fund fell by -4.5%, mirroring the wider property sector, despite having a good reporting season based on rising profits and dividends from the companies held in the Fund.
  • It was pleasing to see the companies held in the Fund increase their dividends on average by +13% in the August reporting season, with every company in the Fund paying a dividend. We see that dividends are a better measure than earnings per share of a company’s actual health. While in the short term, the market is a voting machine, rewarding popular companies, in the long term, it is a weighing machine and recognises companies that consistently pay dividends to shareholders and increase income at levels above inflation.

Go to Monthly Newsletters for a more detailed discussion of the listed property market and the fund’s strategy going into 2023