Update No. 228 – 14/08/15

We had a good result relative to the market this week. We are within a quarter of one percent of our all-time highs, while the market is more than 8% off its high set back in March.

The good weekly performance was in part due to a couple of positive updates from our holdings and in part due to a couple of our larger holdings finishing higher this week despite a decent decline in the general market.

The market has now given back all of the very substantial gains generated in July, and a little more to be marginally down for FY16.

This is an intense time of year for a fund manager that doesn’t have (expensive) staff, so you’ll forgive a little brevity in the weekly updates as I try to decide what to buy, what to sell & what to hold. If I get the job done right, we will hopefully be able to outperform the market again in FY2016 – Tony Hansen 14/08/2015

EGP Fund No. 1 Pty Ltd. Up by 2.93%, leading the benchmark by 3.12% since July 1^st 2015. Since inception, EGP Fund No. 1 Pty Ltd is Up by 91.11%, leading the benchmark by 54.97% all-time (April 1^st 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}