Cadence Capital Limited returned a negative gross performance of 1.0% during the month of October 2019 compared to a decrease in the All Ordinaries Accumulation Index of 0.4%. For the month, the largest detractors from performance were Champion Iron, Eclipx Group, Money3 Corp and Stanmore Coal. The largest contributors to the Company’s performance were ARQ Group and Imdex Ltd.

During the month, the Company paid a 2.0 cents fully franked final dividend. This brought 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.

Our AGM and Investor Briefing will be held at the Museum of Sydney, Warrane Theatre, Corner of Bridge and Phillip Streets, Sydney, NSW 2000 at 2:00pm (AEDT) on Monday 18th November 2019. If you would like to dial into the AGM remotely, please click here to register.

In the upcoming weeks the Company will be releasing its latest quarterly webcast. This webcast will give an update on the Company’s performance, will discuss CDM’s discount to NTA, will discuss the Company’s portfolio construction and some of its top stock holdings and will give an update on the outlook for 2020.

At 31st October 2019, the Company was 67.0 % invested.

Fund NTA

Fund Performance

* Gross Performance: before Management and Performance Fees

CDM Share Price and Option Returns plus Dividends & Franking

Fully Franked Dividends Declared Since Listing

* Off market equal access buy back

Historic Portfolio Exposure

Portfolio Sector Analysis

 

Top Portfolio Position

Recent News

During September the Company held its year-end June 2019 investor presentations in major cities across Australia. If you were unable to attend, please click here to view the Investor Presentation.

In August the Company released its Year End Webcast in two parts. In Part I of the webcast, Karl Siegling discussed 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 material discount to NTA. In Part II of the webcast, Karl Siegling discussed the portfolio, investments in Eclipx (ECX), Bingo Industries (BIN), Alibaba (BABA US) and Resimac (RMC), and the outlook for the year ahead.

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.

We welcome any of your friends or colleagues that you feel may benefit from our monthly Cadence Capital Limited Newsletter. Please click here to refer a friend by supplying their name and email address.

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.