asset_category:
peer_benchmark:
broad_market_index:
manager_contact_details: Array
ticker: DJW
release_schedule:
structure: Listed Investment Company
commentary_block:
factsheet_url:
fund_features:
Djerriwarrh Investments Limited (DJW) DJW was established in December 1989 before being listed in June 1995. The company invests predominately in S&P/ASX 50 stocks listed on the ASX where there is an active options market available. It seeks to provide shareholders with attractive investment returns through access to an enhanced level of fully franked dividends and growth in capital invested. DJW invests in a portfolio of ASX-listed stocks, primarily from the S&P/ASX 50 index, given that this sector of the market offers an active options market. DJW also has a trading portfolio with short-term positions. The Investment Committee, which comprises five members of the Board, plays an active role in the investment process with the task of approving all investment orders and transactions, reviewing the performance of investments and reviewing sub-underwriting offers and deals with portfolio related activities.
- The company utilises options to generate increased income for the portfolio. Given the company writes call options, the portfolio may experience high levels of turnover if the options are exercised.
- The company will typically have options over 30%-50% of the portfolio.
- While the company seeks to ward against this outcome by buying back options and writing new ones, in times of strong markets the exercise of options is inevitable.