Some men they say just want to watch the world burn.
I’m not sure if that’s me, but I certainly like ‘change’ much more than the average person it seems. For the ‘average person’ who is effectively what the markets are had quite the conniption as the referendum of the United Kingdom’s membership of the European Union unfolded today.
Whilst no international trade and politics expert, I’d be very surprised if it has anywhere near the harmful effect the markets seem to be concerned it will. Had I been voting, I will confess I’d have been inclined to vote leave, unless I was Scottish, in which case I’d have probably voted to stay out of my own selfish economic interest. A country should determine its own rules of operation to the greatest extent possible. In a modern, collaborative, global society, such decisions should be taken with an eye to the greatest good, but ultimately a country should be democratically operated for the will of the majority. Those bitter about the outcome just want things to work out the way they wanted. Democracy doesn’t work like that, but as Churchill said of democracy it’s “the worst form of Government, except all the others we’ve tried”.
Unexpected changes can cause some pretty extraordinary market events, if we are lucky, this will be one of those times. Such extraordinary events are what create the opportunities to buy quality assets at unusually low prices. At least that’s the hope, given we are about to have the largest intake in our history. If markets continue to collapse next week and you haven’t already added to your holding, please do give it some thought, such times are when I can do the greatest good for your future wealth.
Bear this in mind too. When UK polls opened this morning, a leave vote was rated as less likely than a Donald Trump presidency – Tony Hansen 24/06/2016
|
|
Apr 1st 2011 |
Jul 1st 2015 |
Current Price |
Since July 1st 2015 |
Since Inception |
|
EGP Fund No. 1 |
1.00000 |
1.57872 |
1.68638*1 |
12.25%*1 |
108.42%*2 |
|
37333.23 |
50922.68 |
50698.76 |
(0.44%) |
35.80% |
EGP Fund No. 1 Pty Ltd. Up by 12.25%, leading the benchmark by 12.69% since July 1st 2015. Since inception, EGP Fund No. 1 Pty Ltd is Up by 108.42%, leading the benchmark by 72.62% 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 and a 31 May 2016 Dividend of 6.0000 cps plus a 2.5714 cps Franking Credit
*2 calculated based on dividends reinvested
