Update No. 221 – 26/06/15

We appear on the cusp of one of the better comebacks since Lasse Virén won the Olympic 10,000 metre race in the 1972 Munich Olympics.

We trailed the market by 8.96% in February and now, just 2 days out from our June 30 balance date, we lead the market by 2.47%.

Given we calculate our closing share price based on the final 3 trading days, the greatest risk to our not finishing ahead of the market is a dramatic rise in the benchmark on Monday and Tuesday.

To be sure, Lasse’s effort will still be better, for he broke the 10,000 metre record after he fell (in fact breaking the late, great Aussie Ron Clarke’s record), whereas in terms of the annual race, our result will be below par, barely nudging double-digit returns at present.

That said, I was genuinely trepidatious as to the likelihood of our beating the benchmark in February, so it will be enormously satisfying if we can hold on.

Investors will get the annual letter next Thursday night, and the report will be posted to the blog next Friday.

Anyone wishing to subscribe for shares has until Tuesday, if you’re interested, please e-mail me over the weekend Tony@eternalgrowthpartners.com  – Tony Hansen 26/06/2015


Apr 1st 2011

Jul 1st 2014

Current Price

Since July 1st 2014

Since Inception

EGP Fund No. 1












EGP Fund No. 1 Pty Ltd. Up by 9.83%, leading the benchmark by 2.47% since July 1st 2014. Since inception, EGP Fund No. 1 Pty Ltd is Up by 87.11%, leading the benchmark by 48.54% all-time (April 1st 2011).

*1 after a 31 May 2013 dividend of 2.333 cents per share (cps) plus 1.000 cps Franking Credit, a 31 May 2014 Dividend of 7.000 cps plus 3.000 cps Franking Credit and a 31 May 2015 Dividend of 8.6667 cps plus 3.7143 cps Franking Credit

2 thoughts on “Update No. 221 – 26/06/15

    • Tony says:


      We don’t customarily buy in the last 3 days of the Financial Year (unless a really special opportunity that looks temporary presents) as it makes the audit process easier, but FLT is getting back near the prices we originally paid, and I think it’s a wonderful business, so I will likely look closely at it in July – Tony

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