Cadence Capital Limited returned a gross performance of 6.8% in August, compared to the All Ordinaries Accumulation Index which was up 2.4% for the month. Financial year to date the fund is up 6.1% outperforming the All Ordinaries Accumulation Index by 2.4%. The top contributors to performance during August were Upstart Holdings, Uniti Group, Life360, Cettire and Whitehaven Coal. The largest detractors from performance were Strike Energy and Fiverr International.
In August the Company announced its full year results declaring a 3.0 cents fully franked final dividend. The Ex-Date for the dividend is the 18th October 2021 and the payment date is the 29th October 2021. The Dividend Re-Investment Plan (“DRP”) is in operation for this dividend. There will be no DRP discount applied.
On the 10th September 2021, TMC listed on the NASDAQ. CDM’s initial investment of AUD$6 million in TMC is currently valued at AUD$98 million. Below are CDM’s current NTAs.
TMC has added significant outperformance for CDM in September, with the fund returning approximately 36% since the 1st July 2021. The company’s record profits from last financial year, combined with the profits from the TMC investment has resulted in significant profits reserves and the ability to pay fully franked dividends for several years to come.
* 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
On the 17th August 2021 the company released its June 2021 Year end Audiocast. In this audiocast, Karl Siegling firstly provides an update on the Company’s record full year results, fully franked final dividend and the portfolio composition. Charlie Gray and Jackson Aldridge then discuss a few of the Company’s investments. Karl Siegling finishes with an update on Deepgreen Metals and the outlook for 2021.
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