Update No. 202 – 13/02/15

For the first time since inception, the fund has had 9 consecutive positive weeks.

Twice before we’ve had a run of 8 and once more a 7 week stretch. Usually in such periods we’ve opened up an advantage on the market. Unfortunately this time has been accompanied by a market that has hooked onto a passing rocket. We’ve lost quite a lot of ground to the benchmark and will need the remainder of reporting season to be very good if we are to catch up by 30 June.

Our first holding reported this week, Coffey Ltd (ticker COF) which I’ve discussed in these pages before. The report unfortunately was very much weaker than I had anticipated, and serves to remind that when buying turnarounds, they seldom turn as quickly or as strongly as expected. I remain positive on the future of the business, so as is our wont, we shall not panic and expect a meaningfully stronger second half.

I don’t have a lot else to say this week, so we’ll just do the numbers, and hope the 5 reports we’ve got due this week are really solid. Until then… – Tony Hansen 13/02/2015


Apr 1st 2011

Jul 1st 2014

Current Price

Current Period

Since Inception

EGP Fund No. 1












EGP Fund No. 1 Pty Ltd. Up by 3.19%, trailing the benchmark by 8.22% since July 1st 2014. Since inception, EGP Fund No. 1 Pty Ltd is Up by 75.80%, leading the benchmark by 32.00% 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