The market has had what can best be described as a shaky start to 2016. As seems to happen when I travel and do not focus entirely on the markets, we turned in one of our best ever weeks of outperformance, despite a nearly 2% fall on the December 31st closing figures.
The benchmark’s fall of 5.76% was a stark contrast to the 5.65% gain registered in the three weeks leading to the end of 2015. The Market giveth and the Market taketh away, blessed is the Market.
We had a couple of late subscriptions that meant the December 2015 intake ended up being quite a strong one and augmented our cash holdings further. We now have more A-shares on issue than B-shares (the class my direct family & charitable foundations hold, that are non-fee-paying). I am enormously grateful for the ongoing faith our shareholders place in me to help them accumulate wealth.
The falls allowed us to deploy a little of our fresh capital into an attractive business I have watched closely for a number of years and which we expect to hold for many years to come. We will not name the holding just yet, but wait to see if there are opportunities to accumulate more at lower prices – Tony Hansen 08/01/2016
|
|
Apr 1st 2011 |
Jul 1st 2015 |
Current Price |
Since July 1st 2015 |
Since Inception |
|
EGP Fund No. 1 |
1.00000 |
1.57872 |
1.62849*1 |
3.15% |
91.53%*2 |
|
37333.23 |
50922.68 |
48484.42 |
(4.79%) |
29.87% |
EGP Fund No. 1 Pty Ltd. Up by 3.15%, leading the benchmark by 7.94% since July 1st 2015. Since inception, EGP Fund No. 1 Pty Ltd is Up by 91.53%, leading the benchmark by 61.66% 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
