Cadence Capital Limited returned a negative gross performance of 4.3% in June. The negative performance for the month was primarily caused by the portfolio’s holding in ARQ Group, which had an earnings downgrade during the month. Axcess Today and Vocus Communications also contributed negatively for the month. Stocks that contributed positively during the month were Bingo Industries, Eclipx Group and Qualcomm.
For the year ended 30th June 2019, ARQ Group and Emeco Holdings were two stocks that contributed significant negative performance. In the upcoming weeks we will be releasing the June 2019 year end webcast. This webcast will give shareholders a detailed update on the fund’s performance over the past year and will discuss in detail the company’s current top positions and outlook for the year ahead.
During the 2019 financial year, the CDM share price has moved from trading at a premium to NTA, to a discount to NTA. In the June 2019 webcast we will outline the reasons for this as well as the initiatives currently underway to move the CDM share price closer to NTA.
At 30th June 2019, the Company was 79.3% invested.
* 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
Cadence Capital Limited (CDM) was highlighted as a Listed Investment Company (LIC) to watch in the Bell Potter Research article on Livewire Markets titled Looking for opportunity in LIC land. This article discusses the potential investment opportunities presented where a LIC’s share price is trading at a discount to its NTA.
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.