INVESTMENT UPDATE

November 2015

For the month of November 2015 Cadence Capital Limited returned a negative gross performance of 1.63% compared to a decrease in the All Ordinaries Accumulation Index of 0.69%.

Over the past 12 months Cadence Capital Limited has returned a positive gross performance of 14.47% outperforming the All Ordinaries Accumulation Index by 11.42%. Financial year to date Cadence Capital Limited has returned a positive gross performance of 1.96% outperforming the All Ordinaries Accumulation Index by 4.10%.

As at the 30th November 2015 the fund was holding 26% cash (74% invested).

Fund NTA

*The NTAs and Share price are post the 6.0c fully franked year-end dividend

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

Fully Franked Dividends Declared Since Listing

* Off market equal access buy back

Historic Portfolio Exposure

Portfolio Sector Analysis

Top Portfolio Positions

Recent News Articles

Cadence Capital Limited held its AGM and Investor Briefing on Monday 23rd November 2015. You canview a webcast of the AGM and Investor Briefing here.

Portfolio manager Simon Bonouvrie participated in Livewire’s latest Buy Hold Sell videos, where he shared comments on the top five stocks of 2015, the worst five stocks of 2015 and what he expects from retailers this holiday period.

Karl Siegling’s views on the resources market were quoted by the AFR in article discussing the impact of falling commodity prices.

Our 52 Books To Read Before Buying Your Next Stock section has been updated with new book recommendations including Beyond Greed and Fear by Hersh Shefrin, Technical Analysis of the Finanical Markets by John J. Murphy and Hedgehogging by Barton Briggs. We’ve also launched theInteresting Articles section where you will find links to articles handpicked by the Cadence team.

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.