Cadence Capital Limited returned a positive gross performance of 3.5% in April, outperforming the All Ordinaries Accumulation Index by 1.0%. For the month, the largest contributors to the Company’s performance were DeepGreen Metals, Qualcomm, Seven Group, Stanmore Coal and Treasury Wine Estates. The largest detractors from performance were ARQ Group and Macmahon Holdings.

At 30th April 2019, the Company was 85.6% invested (14.4% cash).

In February the Company announced a 3.0 cent fully franked interim dividend. This equated to a 6.8% annual fully franked yield (9.7% gross yield) based on the CDM share price at the time of the announcement. The Ex-Date for the dividend was the 29th April 2019 and the payment date is the 13th May 2019. The DRP was not operational for this Dividend as CDM shares are currently trading at a discount to NTA and the Board did not wish to issue shares at a discount to NTA. Instead of participating in the DRP, shareholders have the option to use their dividends to buy shares at a discount to NTA if they wish to do so.

Fund NTA


* These figures are after a 3.0 cent fully franked interim dividend being paid on 13th May 2019

Fund Performance

* Gross Performance: before Management and Performance Fees

CDM Share Price and Option Returns plus Dividends & Franking

Fully Franked Dividends Declared Since Listing

* Off market equal access buy back

Historic Portfolio Exposure

Portfolio Sector Analysis

 

Top Portfolio Position


** A Pre-IPO investment in the Materials sector

Recent News

The Company released its March 2019 Quarterly Webcast on during the month of April. We recommend you watch this webcast in which Karl Siegling discusses the company’s performance, reviews the portfolios top holdings, discusses the discount to NTA of the Company’s share price and gives an update on the market outlook.

We encourage you to visit our 52 books you should read before buying your next stock page on our website. We have compiled a list of books/ documentaries that have influenced our investment style or helped provide insight into the investment process. To view all previous Cadence webcasts and press articles, please visit the Media Section of the website.

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10 Books To Read Before Buying Your Next Stock

Funds management involves a lot of synthesis of information and reading. Over the years we all end up reading many investment books and refer to them from time to time.

The team at Cadence has compiled a list of books that have influenced our investment style, or helped provide insight into the investment process.

Whilst not an exhaustive list, the 10 titles contained in this eBook provide a good starting point for any interested investor.