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They recently did a blog on this fund which I think sets out how it all works pretty well http://www.betasharesblog.com.au/reap-what-you-sow-hvst/


The extra franking they are generating is very helpful if you are in a low tax paying environment or SMSF. Without DRP capital value will absolutely decline given the very high levels of income being generated, so its all about total return in the end


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