Update No. 225 – 24/07/15

We are in the midst of what the financial media like to refer to as ‘confession season’, where companies are supposed to announce that they will fall short of market expectations.

I like to think of this period as ‘upgrade season’, for if you’ve bought well, the earlier understated guidance, or sometimes ‘unguided’ companies often announce a result that is a little better than the market was expecting.

We had such an announcement this week when our second largest holding, Dicker Data announced a strong first 6 months of 2015. The subsequent share price lift more than offset the many companies in our portfolio that fell in line with the markets 1.83% drop for the week.

This left us only 0.19% off our all-time high registered in late May, and hopeful that it will be the first of many upgrades over the next few weeks before reports start to drop – Tony Hansen 24/07/2015


Apr 1st 2011

Jul 1st 2015

Current Price

Since July 1st 2015

Since Inception

EGP Fund No. 1












EGP Fund No. 1 Pty Ltd. Up by 1.85%, trailing the benchmark by 1.71% since July 1st 2015. Since inception, EGP Fund No. 1 Pty Ltd is Up by 89.11%, leading the benchmark by 47.85% 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 calculated based on dividends reinvested