Cadence Capital Limited returned a negative gross performance of 1.3% during the month of September 2019 compared to an increase in the All Ordinaries Accumulation Index of 2.1%. For the month, the largest detractors from performance were ARQ Group, Ausnutria Dairy Corporation and Strike Energy. The largest contributors to the Company’s performance were Eclipx Group and Resimac Group.

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

In August the Company declared 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. The Ex-Date for the dividend is the 18th October 2019 and the payment date for the dividend is the 30th October 2019. The dividend reinvestment plan (DRP) was not in operation for this final dividend as the Company’s shares were trading at a large discount to the underlying NTA per share of the Company.

At 30th September 2019, the Company was 67.4% 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


** A Pre-IPO investment in the Materials sector

Recent News

Last month the Company released its June 2019 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.

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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.