INVESTMENT UPDATE

August 2016

For the month of August 2016 Cadence Capital Limited returned a positive gross performance of 2.34% outperforming the All Ordinaries Accumulation Index by 3.67%.

During the month the Company announced a 4.0 cent fully-franked final dividend. The Ex-Date for the dividend is the 18th October 2016. This brings dividends declared for the year to 9.0 cents and equates to a 7.1% annual fully franked yield, or a 10.1% gross yield (grossed up for franking credits) based on the CDM share price at the time of the announcement of $1.275. The payment date for the final dividend is the 27th October 2016. Shareholders are able to participate in the Dividend Reinvestment Plan (“DRP”) at a 3% discount. The DRP Record Date is 21st October 2016.

As at the 31st August 2016 the fund was holding 24% cash (76% invested).

Fund NTA

NTA Table

* The NTA’s and Share price are post the 5.0c fully franked interim dividend

Fund Performance

CDM Fund Performance

* Before Management and Performance Fees

**These numbers include the franking value of the substantial dividend from its RHG holding received in May 2011.

CDM Share Price and Option Returns plus Dividends & Franking

CDM Share Options Returns Chart

* CDM 1 year figures reflect the share price move from a premium to a discount to NTA

Fully Franked Dividends Declared Since Listing

CDM Fully Franked Dividends Declared Since Listing

* Off market equal access buy back

Historic Portfolio Exposure

Cadence Portfolio Exposure

Portfolio Sector Analysis

 Portfolio Sector Analysis

Top Portfolio Positions

CDM Top 20 Positions

Recent News Articles

Karl Siegling’s article titled “Winners If The Australian Dollar Falls” was featured on the ASX August 2016 Newsletter and the Livewire Markets daily newsletter. We encourage you to read the article to learn more about Karl’s views on the topic.

We have published new book reviews including Outliers by Malcolm Gladwell, Master CEOs: Insights From Australia’s Leading CEOs by Matthew Kidman and Reframing by Richard Bandler which are available on the 52 Books You Should Read Before Buying Your Next Stock section of our website. The Cadence team shares links to interesting articles which you can find in the Interesting Links section.

To view all previous Cadence webcasts and press articles, please visit the Media Section of the website.

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.