Cadence Capital Limited returned a gross positive performance of 9.3% in the month of August, outperforming the All Ordinaries Accumulation Index by 5.6%. The fund has had a good start to the new financial year, returning 13.5% compared with the All Ordinaries Accumulation Index which has risen by 4.7%. The largest contributors to performance during August were Resimac Group, Pointsbet Holdings, Money3 Corp, ARB Corp, Redbubble and Nvidia Corp. The largest detractors from performance were Wisetech Global and Uniti Group.
On the 28 August 2020, the Company announced its full year results and a 2.0 cents fully franked final dividend. This brings the 2020 fully franked full year dividend up to 4.0 cents per share equating to a 5.7% annual fully franked yield, or an 8.1% gross yield based on the CDM share price on the announcement date. The Ex-Date for the dividend is the 19th October 2020 and the payment date for the dividend is the 30th October 2020. The dividend re-investment plan (DRP) will not be in operation for this final dividend as the Company’s shares are currently trading at a large discount to the underlying NTA per share of the Company.
At 31 Aug 2020, the Company was 77.8% invested.
* 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
The Company recently held its June 2020 Investor Presentation followed by a Q&A Session involving portfolio managers Karl Siegling, Charlie Gray and Jackson Aldridge. In this online investor presentation, Karl Siegling provided an update on the fund including its recent performance, current holdings and positioning, and the key investment themes emerging in the portfolio. He also discussed the Company’s discount to NTA, tax asset, and capital management strategy.
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