Our share markets reminded participants the last few weeks that the steady, consistent gains of the last 12 months won’t necessarily always come that way. The Friday closing price of our benchmark dipped below the 30 June 2014 closing price for the first time in FY2015.
On the positive side, your EGP shares are still showing a (very modest) gain of 0.71% quarter to date, with only 2 trading days left, we will hopefully report a positive result this quarter. The fund this week registered its widest ever total margin over the benchmark since inception. Long may it grow!
As I have hopefully trained most of fellow EGP shareholders, declining prices should be viewed favourably, particularly around the ends of quarters when our new funds arrive. We have a number of new investors joining us this quarter and it is much easier to deploy this capital into a declining market than a rising one. Well deployed capital is the cornerstone of future results.
To those of you adding to your holdings for the September quarter, remember to get me your forms and to make the transfer before Tuesday.
I will be in Bendigo next week for the Bendigo Community Telco AGM and will issue the new shares upon my return.
The quarterly investor update will be issued next weekend also, so you’ve got that to look forward to… – Tony Hansen 26/09/2014
|
|
Apr 1st 2011 |
Jul 1st 2014 |
Current Price |
Current Period |
Since Inception |
|
EGP Fund No. 1 |
1.00000 |
1.56145 |
1.57258*1 |
0.71% |
71.61%*2 |
|
35632.05 |
45991.23 |
45891.50 |
(0.22%) |
28.79% |
EGP Fund No. 1 Pty Ltd. Up by 0.71%, leading the benchmark by 0.93% since July 1st. Since inception, EGP Fund No. 1 Pty Ltd is Up by 71.61%, leading the benchmark by 42.82% 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
