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Overview
The Martin Currie Australia Equity Income strategy seeks to provide a high, stable and growing income stream by investing in a diversified benchmark-unaware portfolio of high-quality, income-paying securities.
Our income approach is premised on the philosophy that high-quality companies that have solid earnings can sustain dividends, grow income distributions to match rises in the cost of living, and are likely to be less volatile than the wider equity market. These are key attributes of what we like to call a ‘sufficient income for life’. Our approach also aims to extract the full benefit of franking credits and maximise after tax income for 0% tax payers.
Our focus on a ‘sufficient income for life’ has resulted in an Australian equity portfolio that looks very differently to both traditional equities and other income-focused approaches.
We have over 10 years of experience in managing income strategies through very varied market cycles, including the COVID-19 impacted 2020, and we believe this shows that our unique methodologies can provide investors with a portfolio with the attributes of ‘sufficient income for life’.
We believe that there are few peer strategies available in the market that address income in the way that the Martin Currie Australia Equity Income strategy can.
Key Information
To provide an after-tax yield above the S&P/ASX 200 Index and to provide income stream growth above inflation
Portfolio characteristics | Australia Equity Income |
---|---|
Objective | Income |
Asset Class | Equities |
Style | Income / Quality |
Investable Universe | Australian listed securities |
Benchmark | Benchmark unaware |
Market capitalisation | All cap |
Country limit | N/A |
Sector limit | Absolute 22% |
Security limit | Absolute 6% |
Number of stocks | Typically 45 |
Portfolio turnover | Typically 25% p.a. |
Forecast tracking error | We do not target tracking error but total risk outcome is typically 90% of the market. |
Inception | 22 May 2010 |
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"The old view of the behaviour of retirees is that when they retire they automatically become more risk adverse and should move away from growth-style assets and more towards defensive assets. We do not agree."
Why Invest in Australia Equity Income
Not all equities are created equal for income
We have put the ‘sufficient income for life’ needs of clients at the heart of the product design for the Martin Currie Australia Equity Income strategy
Focus on a high, stable and growing income stream
Our benchmark unaware portfolio construction helps to avoids income shocks, hedge against rising inflation, and improve capital growth without the use of costly derivatives
More appropriate risk profile for income investors
Maximising income and reducing the concentration in Australian equities is much more important than benchmark relative alpha and tracking-error risk measures
Investment Strategy
The strategy aims to deliver an attractive and growing income stream through:
- A ‘sufficient income for life’ focus – Unique investment approach aligns stock selection and portfolio construction with the income needs of retirees
- Income-focused return profile – Favouring high quality, highly franked, consistent dividend payers to reduce income shocks and grow income
- Benchmark unaware portfolio construction – Low security and sector concentrations to provide income diversification so no single stock dominates
- Fundamental active ownership - Purposeful engagement with companies and client advocacy through proxy voting
- Experienced stock pickers with long term track record - Deep industry experience generating ‘active insights’
Read more about how the Martin Currie Australia Equity Income strategy seeks to provide the attributes of a ‘sufficient income for life’ in the Strategy Guide.

Investment Strategy
The strategy aims to deliver an attractive and growing income stream through:
- A ‘sufficient income for life’ focus – Unique investment approach aligns stock selection and portfolio construction with the income needs of retirees
- Income-focused return profile – Favouring high quality, highly franked, consistent dividend payers to reduce income shocks and grow income
- Benchmark unaware portfolio construction – Low security and sector concentrations to provide income diversification so no single stock dominates
- Fundamental active ownership - Purposeful engagement with companies and client advocacy through proxy voting
- Experienced stock pickers with long term track record - Deep industry experience generating ‘active insights’


Reece Birtles
- Job title
- Chief Investment Officer, Australia
- Experience
- 30 years

Michael Slack
- Job title
- Head of Australian Equity Research
- Experience
- 33 years
Our Capabilities
Available Funds
We offer access to the strategy via segregated accounts and separately managed accounts.
Through our parent company, Franklin Templeton, investors are offered access to the below funds.
Contact Us
Please visit our contact page or speak to a member of our sales team, to discuss the most appropriate investment to meet your requirements and for more information on our investment capabilities.
Kimon Kouryialas
Co-Head of Global Distribution
T: +61 (0) 3 9017 8640
M: +61 (0) 4 1737 7431
E: kkouryialas@martincurrie.com
Ross Kent
Investment Client Portfolio Manager
T: +61 (0)3 9017 8629
M: +61 (0)455 253 384
E: rkent@martincurrie.com
Contact Us
Please visit our contact page or speak to a member of our sales team, to discuss the most appropriate investment to meet your requirements and for more information on our investment capabilities.
Kimon Kouryialas
Co-Head of Global Distribution
T: +61 (0) 3 9017 8640
M: +61 (0) 4 1737 7431
E: kkouryialas@martincurrie.com
Ross Kent
Investment Client Portfolio Manager
T: +61 (0)3 9017 8629
M: +61 (0)455 253 384
E: rkent@martincurrie.com
Contact Us
Please visit our contact page or speak to a member of our sales team, to discuss the most appropriate investment to meet your requirements and for more information on our investment capabilities.
Mel Bucher
Co-Head of Global Distribution
T: +44 (0) 131 479 4748
M: +44 (0) 758 414 7720
E: mbucher@martincurrie.com
Danni Yang, CFA
Investment Client Portfolio Manger, Global Long-Term Unconstrained
M: +44 (0) 7826548065
E: dyang@martincurrie.com
Contact Us
Please visit our contact page or speak to a member of our sales team, to discuss the most appropriate investment to meet your requirements and for more information on our investment capabilities.
Mel Bucher
Co-Head of Global Distribution
T: +44 (0) 131 479 4748
M: +44 (0) 758 414 7720
E: mbucher@martincurrie.com
Contact Us
Please visit our contact page or speak to a member of our sales team, to discuss the most appropriate investment to meet your requirements and for more information on our investment capabilities.
Mel Bucher
Co-Head of Global Distribution
T: +44 (0) 131 479 4748
M: +44 (0) 758 414 7720
E: mbucher@martincurrie.com
Tim Baker
Associate Client Portfolio Manager
M: +44 (0) 7795238754
E: tbaker@martincurrie.com
Contact Us
Please visit our contact page or speak to a member of our sales team, to discuss the most appropriate investment to meet your requirements and for more information on our investment capabilities.
Mark Cho, CFA
Head of Americas Distribution
Intermediary Sales/Wealth Management
T: +1 212 632 3292
E: mcho@martincurrie.com
Breanna Ellsworth, CFA
Client Portfolio Manager, Distribution - US
T: +1 212 632 3293
E: bellsworth@martincurrie.com
Drew Comatos
Client Portfolio Manager, North America
Intermediary Sales/Wealth Management
T: +1 203 703 6472
E: dcomatos@martincurrie.com