| April 1 2011 | July 1 2011 | Current Price | Current Period | Since Inception | |
| EGPFund No.1 | 1.00000 | 1.08396* | 1.13072 | 4.31% | 13.07% |
| S&PASX200TR | 35632.05 | 34200.68 | 34549.41 | 1.02% | (3.04%) |
| EGP20 | 1000.00 | 883.67 | 926.65 | 4.86% | (7.33%) |
*Note – Audited Period Starting Price
EGP Fund No. 1 Pty Ltd. Up by 4.31%, leading the benchmark by 3.29% since July 1st. Since inception, EGP Fund No. 1 Pty Ltd is Up by 13.07%, leading the benchmark by 16.11% all-time (April 1st 2011).
EGP 20. The EGP20 index is Up by 4.86%, leading the benchmark by 3.84% since July 1st. Since inception the EGP20 is Down by 7.33%, lagging the benchmark by 4.29% all-time (since April 1st 2011).
S&PASX200TR The benchmark index is Up by 1.02% since July 1st. The benchmark is Down 3.04% all-time (since April 1st2011).
Well, we have received our confirmation of audited asset values. As such, the issue/redemption price as at 1 July will be $1.08396 per share; increasing and incoming shareholders will receive an individual e-mail confirming the number of shares they now hold.
With the inflow/outflow of funds, we now find ourselves 99% invested, with only 1% cash as at our first report in the new period. Dividends will start to flow and that cash balance will soon be augmented.
We have jumped out of the blocks well in the first week of the period, and I hope we can make every post a winner between now and December 31, though time will tell. Reporting season is only a few weeks away and I hold high hopes for some pretty special results from our holdings.
Two points of interest, our shareholders know how focused I am on keeping costs low. Firstly, the total management expense (solely relating to brokerage and nothing else) for the period just closed was just a fraction under $0.00019 per share. This equates to an MER (Management Expense Ratio) of 0.018%, I think you are unlikely to find a lower ratio anywhere. Secondly, in keeping with my commitment to have my own interests aligned with our shareholders, over 50% of the assets Sue (my lovely wife) and I own now reside within EGP Fund No. 1 Pty Ltd. We remain committed to growing this figure to somewhere close to 90% within 3 years. Talk next week – Tony Hansen.
