Rooster one day, feather duster the next…
This is kind of how I felt reporting the results for calendar 2014. This time last year, I was strutting around the farmyard crowing about a 35% return after fees in 2013 and a market trouncing outperformance. This year the return was more muted, only 3.9% in calendar 2014 and a barely positive 0.01% in the July – December period.
It is not so much the lower return that is annoying. If we had returned 4% in a year when the benchmark declined, I would be perfectly happy. Unfortunately after the first 6 months of FY2015, we trail the benchmark, it is a position to which we are unaccustomed, and a situation we hope to remedy between now and June 30th.
It was very kind of a number of our investors who manage some of their own holdings outside of their interest in EGP to contact me and let me know that despite a weak 2014 I had still managed to better their results. To our investors who manage some of their own holdings outside of their interest in EGP and did manage to best EGP’s results, it was very kind of you not to contact me!
The report (.pdf) sent out to investors last week actually captures the first half of FY2015, and as is customary has been made permanently available on the ‘Reporting’ tab of the website.
After a flurry of last minute applications, our December 31 2014 intake actually goes into the books as our best ever. I am humbled by the continuing faith of those who entrust their capital to EGP and will do everything I can to ensure the results justify the faith.
In keeping with the growth in the number of new applicants and given our 20 new investors per year restriction, I will likely lift the minimum opening investment from $10,000 to $20,000 at the 30 June 2015 intake. So if you are a smaller investor wanting to establish a starting position in the fund, contact me before the March 31 2015 intake. The minimum additional contribution for ongoing members will remain at $1,000 to ensure our small holders can continue to build their modest holdings – Tony Hansen 09/01/2015
|
|
Apr 1st 2011 |
Jul 1st 2014 |
Current Price |
Current Period |
Since Inception |
|
EGP Fund No. 1 |
1.00000 |
1.56145 |
1.56334*1 |
0.12% |
70.57%*2 |
|
35632.05 |
45991.23 |
47614.49 |
3.53% |
33.63% |
EGP Fund No. 1 Pty Ltd. Up by 0.12%, trailing the benchmark by 3.41% since July 1st. Since inception, EGP Fund No. 1 Pty Ltd is Up by 70.57%, leading the benchmark by 36.94% all-time (April 1st 2011).
*1 after 31May 2013 dividend of 2.333 cents per share plus 1.000 cent per share Franking Credit & 31 May 2014 Dividend of 7.000 cents per share plus 3.000 cent per share Franking Credit
*2 calculated based on dividends reinvested
