Update No. 160 – 26/04/14

Both the benchmark and the Fund were up over 1% in the public-holiday shortened week just passed.

The benchmark is at an all-time high since inception and the Fund is 0.14% from the all-time high achieved 3 weeks ago. Since EGP was created, the period between about now and the end of June has been a poor one for the market, in 2011, the benchmark dropped 5.5% over this period and in 2012 & 2013, the benchmark dropped 5.3% each year from the last week in April to June 30. We do not time the markets, but it does interest us somewhat how certain periods of the year tend to behave in similar ways in terms of gains or losses. A 5% drop between now and June 30 would mean the market had been a little worse than flat over the first half of 2014, which would be perfectly fine if the second half of the year was anything like the last few.

I have spent the last few days in and around Hollywood and Los Angeles, somehow I have not been ‘discovered’ yet, but I’m sure that’s just a matter of time…

It has been over 2 years since I was last in the US and although I am in different cities, the country certainly feels more positive than it did last time I was here.

I will write from Omaha next week, preparing for my first visit to the Berkshire Hathaway AGM, I will try to give it a thorough blog-post the week after that, because as every market follower knows, the AGM doesn’t get nearly enough media attention, so I will add my small contribution through my little blog – Tony Hansen 26/04/2014


Apr 1st 2011

Jan 1st 2014

Current Price

Current Period

Since Inception

EGP Fund No. 1












EGP Fund No. 1 Pty Ltd. Up by 2.91%, trailing the benchmark by 1.78% since January 1st. Since inception, EGP Fund No. 1 Pty Ltd is Up by 69.06%, leading the benchmark by 37.92% all-time (April 1st 2011).

*1 after 31May 2013 dividend of 2.333 cents per share plus 1 cent per share Franking Credit

*2 calculated based on dividends reinvested