Cadence Capital Limited returned a gross negative performance of 0.7% during August 2019, outperforming the All Ordinaries Accumulation Index by 1.5%. For the month, the largest contributors to the Company’s performance were Detour Gold, Eclipx Group, Shine Corporate and Strike Energy. The largest detractors from performance were Ausnutria Dairy, ARQ Group and Champion Iron.
At 31st August 2019, the Company was 70.1% invested.
During the month the Company announced its full year results and a 2.0 cents fully franked final dividend. This brings the 2019 fully franked full year dividend up to 5.0 cents per share equating to a 6.7% annual fully franked yield, or a 9.5% gross yield based on the CDM share price on the announcement date. The Ex-Date for the dividend is the 18th October 2019 and the payment date for the dividend is the 30th October 2019. 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.
The Company recently released its June 2019 Year End Webcast in two parts. In Part I of the webcast, Karl Siegling discusses the fund’s performance over FY19, the largest detractors and contributors for the year, and the Company’s shares as an investment opportunity given the current material discount to NTA. In Part II of the webcast, Karl Siegling discusses the current portfolio, investments in Eclipx (ECX), Bingo Industries (BIN), Alibaba (BABA US) and Resimac (RMC), and the outlook for the year ahead.
* Gross Performance: before Management and Performance Fees
CDM Share Price and Option Returns plus Dividends & Franking
Fully Franked Dividends Declared Since Listing
Historic Portfolio Exposure
Portfolio Sector Analysis
Top Portfolio Position
** A Pre-IPO investment in the Materials sector
Over the coming weeks, the Company will be holding investor presentations in major cities around Australia. We would strongly encourage you to register to attend these investor presentations.
Please register online at https://www.cadencecapital.com.au/cadence-capital-investor-roadshow-september-2019/.
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 Cadence investment process. To view all previous Cadence webcasts and press articles, please visit the Media Section of the website.
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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.