The Fund returned 0.84% over the month of September, delivered 2.18% for the previous three months and 9.55% over the past 12 months. The Net Asset Value (NAV) of the Fund, as at 30 September 2014, was $50 m1 and the cum redemption price was 1.3461942.
The Fund’s performance in September was pleasing in light of the ASX 200 index being down close to 6 per cent. It highlights the low correlation that the Fund’s returns has had with the returns of the stock market since the Fund’s inception. Over the last fifty nine months (the Fund is nearly five years old) the ASX 200 has had 15 months of negative returns while the Fund has had only four months of negative returns, of which three were in the first year when there was little asset diversification. However, there has only been one month over the last five years when a negative return in the equity markets correlated with a negative return in the Fund.
The Fund declared a 2 cents a unit distribution for the quarter ended 30 September 2014 which was consistent with the average distribution paid by the Fund in the first quarter of the previous two financial years.
