Pinnacle affiliate Solaris Investment Management has launched an ASX-listed Australian equity listed investment company (LIC) tarreceiveing a $300 million raise.
The Solaris Australian Equity Income Plus (SET) is designed to deliver monthly fully franked dividfinishs and long-term capital growth for income-seeking investors. Managed by chief investment officer Michael Bell and portfolio manager Charles Casey, it seeks to deliver higher franked income than the ASX 200 Franking Credit Adjusted Daily Total Return Index.
Its IPO opened on 19 March 2026 and is tarreceiveing raising $300 million with a minimum subscription of $175 million with shares expected to commence trading on 17 April.
This is the same investment strategy as its unlisted Solaris Australian Equity Income Fund which was launched in 2016 and has delivered net total returns of 10.9 per cent per annum since inception.
SET intfinishs to pay monthly fully franked dividfinishs, with the first dividfinish expected in August 2026.
Solaris is a style-agnostic active Australian equities fund manager with $9.5 billion in funds under management (FUM) which utilizes fundamental research to exploit inefficiencies in company earnings and valuation, applying a multi-portfolio approach.
Solaris declared the decision to launch an LIC version came about becautilize of the growing number of Australians transitioning into retirement who are demanding a reliable income. It described its philosophy as ‘grow the farm, not sell it’ by investing in high-yielding value companies as well as capital growth opportunities.
Bell declared the LIC structure offers distinct advantages for income investors: “As a listed investment company, we can retain profits and build reserves, enabling smooth, regular dividfinish payments across market cycles. Solutions that can deliver consistent, regular franked income without sacrificing long-term capital growth have a critical role to play in enabling fulfilling lives for Australians, long into retirement.”
The LIC board will include Neil Cochrane as indepfinishent non-executive chair, Gemma Dooley as indepfinishent non-executive director and Chris Meyer as non-indepfinishent, non-executive director.
This is the second LIC launch this week as L1 Capital stated it is tarreceiveing $1 billion for an ASX-listed gold LIC. The L1 Gold Fund (LGF) aims to deliver positive, absolute return over longer than three years through the utilize of long-short positions, managed by L1 Capital co-founders and co-chief investment officers Rafi Lamm and Mark Landau and chaired by Andrew Larke.
Leave a Reply