The Fund returned 0.51% over the month of October, delivered 1.88% for the previous three months and 9.29% over the past 12 months. The Net Asset Value (NAV) of the Fund, as at 31 October 2014, was $50 m2 and the redemption price was 1.3530523.
31 October marked the fifth anniversary of the Fund and Laminar would like to thank our unit holders who have invested alongside the Laminar team and helped build the Fund. It can require a leap of faith to invest in a Fund with little track record but those who believed in our potential in the early days have certainly reaped the rewards. Unit holders who put $1 dollar into the Fund five years ago and chose to reinvest the quarterly distributions back into the Fund would now have $2.54.
While this is a great result for an unlevered fixed income fund, we recognise that the returns in the first two years are not easily repeated. However, the returns that we have achieved over the last three years have also been extremely pleasing. We’ve averaged over 12% per annum as we’ve grown the fund from about $8.5m in October 2011 to $50m today. We also had very little volatility with only one month of negative returns in that time. Our forward focus for the Fund is to continue to deliver strong results with low unit price volatility.

Read more…