I am currently traveling in New Zealand, I return in the first week of January. Please review the December Investor Letter to get a brief annual review of how calendar 2016 was for EGP Investors.
Category Archives: Regular Updates
These are the EGP Capital regular reports.
The last few months have been unusually active ones for EGP. FY2017 will likely see our highest ever level of portfolio turnover. We are already very near 10% and not yet 6 months through the year. Based on our average holding period of nearly 10 years, we’ve been as busy in the first half of the financial year as we are in the average year.
We have alluded to a major new position for the fund at each of the last two blogs. I have tried to keep it brief and simple for those of you whose attitude to what I do with your capital is best described as “Show Me the Money”.
Something concerning has happened since the last Blog.
We will examine ‘market-timing’ in this edition. If you read nothing else, the second to last paragraph is the most important of the blog.
Before I delve into this editions fascinating take on my view of the idiosyncrasies of measuring risk, I first wanted to talk about risks specific to your investment in EGP.
The Principal-Agent Problem is an issue in a number of industries. It is an enormous issue for the fund management industry.
The portfolio metrics based on 30 June 2016 balance date and 15 September 2016 prices:
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Current Period
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April 01 2011
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Current Price
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Since inception
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EGP Fund No. 1
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1.00000 | 1.03634 | 3.63% | ||||||||
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EGP20
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1000.00
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904.40
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