It’s an odd feeling to be making strong positive returns, but to be left unsatisfied.
Yet that’s how it feels holding our portfolio over the last couple of weeks. We hit a new all-time high this week, but were once again soundly beaten by a market that has developed a very hot hand. In fact, at 6.05%, it qualifies as the third best two-week rise (best was in October 2011 at 6.73%) for the benchmark since EGP’s inception over 5 years ago.
The rise has substantially been driven by the ASX’s largest sectors (Banks & Miners) that EGP has no exposure to. This lack of exposure made us look very good in relative terms since around March last year when the market peaked, but we have been left substantially out of the recent rally.
I shouldn’t kick stones, given we’re at new highs. As they say – rooster one day, feather duster the next. If the worst beating we take is not making quite as much money as a fast rising benchmark, well there are far worse punishments.
Have a good long weekend. Lest we forget – Tony Hansen 22/04/2016
|
|
Apr 1st 2011 |
Jul 1st 2015 |
Current Price |
Since July 1st 2015 |
Since Inception |
|
EGP Fund No. 1 |
1.00000 |
1.57872 |
1.71711*1 |
8.77% |
101.95%*2 |
|
37333.23 |
50922.68 |
51557.31 |
1.25% |
38.10% |
EGP Fund No. 1 Pty Ltd. Up by 8.77%, leading the benchmark by 7.52% since July 1st 2015. Since inception, EGP Fund No. 1 Pty Ltd is Up by 101.95%, leading the benchmark by 63.85% all-time (April 1st 2011).
*1 after a 31 May 2013 dividend of 2.333 cents per share (cps) plus 1.000 cps Franking Credit, a 31 May 2014 Dividend of 7.000 cps plus 3.000 cps Franking Credit and a 31 May 2015 Dividend of 8.6667 cps plus 3.7143 cps Franking Credit
*2 calculated based on dividends reinvested
