INVESTMENT UPDATE

June 2016

For the month of June 2016 Cadence Capital Limited returned a negative gross performance of 5.76% compared to a decrease in the All Ordinaries Accumulation Index of 2.28%.

During June the Brexit result had a negative impact on a number of Cadence Capital Limited’s larger holdings, in particular Macquarie Group (ASX code MQG) and Henderson Group (ASX code HGG). Uncertainty plagued the market and these positions have been impacted in the short term. The fundamentals of these Companies remain sound and we believe over time the fundamentals will be reflected in the share prices. In time some of these significant price moves may even present opportunities. Both of these investments will be discussed in more detail in the June 2016 quarterly Webcast that is due to be released later this week.

During the first two weeks of July markets are starting to show early signs of recovery from a point of pessimism for Britain and Europe. The US market has recently reached all-time highs and the Asian stock market is showing some signs of strength.

As at the 30th June 2016 the fund was holding 20% cash (80% invested).

Fund NTA

* 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

top portfolio positions

Recent News Articles

You can read our latest book reviews, including The Education of a Speculator by Victor Niederhoffer, The Wolf Of Wall Street by Jordan Belfort and Confessions Of A Street Addict by James J. Cramer in the 52 Books You Should Read Before Buying Your Next Stock section.

The Cadence team shares links to interesting articles, you can access those articles through the Interesting Links section. The team has also put together a list of tools, resources and articles relevant to SMSF’s, we encourage SMSF’s to visit the SMSF Resources section of our website.

Our June 2016 Quarterly Webcast is due to be released later this week.

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