Cadence Capital Limited returned a positive performance of 9.4% during the month of April 2020 compared to the All Ordinaries Accumulation Index which was up 9.5% during the same period. Since the 31 March 2020, where the Company was 43.6% invested, the Company has deployed cash and scaled into a number of new and existing positions. At the 30 April 2020 the Company was 83% invested. For the month, the largest contributors to performance were Resimac Group, Uniti Group, Money3 Corporation, City Chic, Macquarie Group and EML Payments. The largest detractors from performance were Liquified Natural Gas and Harvey Norman Holdings.
On the 29 April 2020 the Company went Ex its 2.0 cents fully franked interim dividend. This interim dividend equated to a 7.2% annual fully franked yield, or a 10.3% gross yield (grossed up for franking credits) based on the month-end CDM share price.
* Gross Performance: before Management and Performance Fees
Fully Franked Dividends Declared Since Listing
* Off market equal access buy back
Historic Portfolio Exposure
Portfolio Sector Analysis
Top 20 Portfolio Positions
Portfolio Market Capitalisation Analysis
On the 23rd March the Company released its March 2020 Quarterly Audiocast. In this Audiocast, Karl Siegling provided an update on recent market movements, the Company’s performance, exposure levels and its cash holdings. He then discussed the upcoming dividend and the CDM’s discount to NTA. He closed by discussing the current outlook for the market and the Company. Due to COVID-19 the Company has decided that it will be holding its upcoming investor presentations online. The details of these presentations will be announced once finalised.
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