Mirrabooka Investments Limited

Overview

Mirrabooka Investments Limited is a publicly owned investment manager based in Melbourne, Australia. The company primarily invests in value stocks of small-cap and mid-cap companies, focusing on those outside the top 50 listed companies by market capitalization on the Australian Stock Exchange. Its investment approach involves fundamental analysis with a bottom-up stock-picking strategy, complemented by external research. The firm typically invests in sectors such as industrials, healthcare, banking, and materials. The company's investment philosophy is centered on taking a medium to long-term view of value, aiming to buy and hold individual stocks based on criteria that include the formulation and execution of business strategies, key financial indicators like prospective price-to-earnings ratios relative to projected growth, sustainability of earnings, dividend yield (including franking), and balance sheet positions. Investing in this sector can be subject to greater volatility compared to larger capitalized companies due to the reliance these smaller companies have on single markets, products, and/or key individuals. Consequently, shares in these smaller companies may also be subject to lower than normal liquidity. This market segment requires significant research and close monitoring of the portfolio. Mirrabooka Investments Limited was founded in April 1999 and was listed on the Australian Securities Exchange on 28 June 2001. The company aims to provide shareholders with medium to long-term gains, including attractive dividend returns, through holding core investments in selected small and mid-sized companies. As of the financial year 2024/25, the company reported a total portfolio value of $746.9 million and an annual fully franked dividend of 11 cents per share. The management expense ratio for the same period was 0.54%.

Investment Focus

• Invest in small and mid-cap companies outside the top 50 listed on the ASX
• Focus on value stocks with low price-to-earnings ratios and high dividend yields
• Target companies with strong growth prospects and potential for takeover or merger activity