There are 278 managed funds listed on the CommSec website. Every so often, I look at the pool to see how EGP is performing against the alternative options into which our investors might deploy their investable funds.
Monthly Archives: August 2014
Investors received their copies of our statutory and management accounts this week. Such accounts can demonstrate the trickiness of valuation for the inexperienced, for on a per-share earnings basis, FY14 was substantially behind FY13 for the fund. The difference was almost solely created by one holding which was subject to a takeover in FY13, causing a meaningful spike in realised gains that year. Fortunately, underlying asset values are very simple to understand.
Earnings season finally kicked off for EGP this week. Only 1 of the 21 holdings we are waiting on reported, 3 holdings report from a non-standard balance-date and wont report in August. Of the 20 still to report, 2 will report next week, 7 in the following week and the remaining 11 in the final week of August.
This post is a ‘Part 2’; last week’s post is assumed knowledge for this week’s readers. The two should be read as a ‘pigeon pair’.
The post will be about opportunity costs. Specifically, the opportunity cost of investing in Superannuation versus investment alternatives.