Cadence Capital reported a full-year profit of $21.6 million, with a 10.4% increase in fund performance.
A final dividend of $0.03 per share was declared, bringing the annual dividend to $0.06 per share, resulting in an annualized yield of 8.6% and a grossed-up yield of 12.2%.
Positive Contributors
Successful investments in Meta Platforms, Netflix, and the Karora/Westgold merger significantly boosted returns.
The portfolio is noted for its high liquidity and diversification, with 87% of assets potentially liquidated within a week.
Meta and Netflix are projected to see strong EPS growth in 2024, with share prices increasing over 75% and 50%, respectively, in the last year.
Challenges Faced
Negative impacts came from investments in Sierra Rutile, Zillow, and Syrah Resources.
Mixed performance was observed in resource companies; declines in lithium investments and coking coal prices have affected stocks like Whitehaven Coal.
General earnings growth for companies has declined, with increasing P/E ratios making the investment environment more challenging.
The slowdown in China's economy has negatively affected Australia's major exports, such as coal and iron ore.
Volatile interest rates may have implications for investment strategies and economic stability.
A final dividend of $0.03 per share was declared, bringing the annual dividend to $0.06 per share, resulting in an annualized yield of 8.6% and a grossed-up yield of 12.2%.
Positive Contributors
Successful investments in Meta Platforms, Netflix, and the Karora/Westgold merger significantly boosted returns.
The portfolio is noted for its high liquidity and diversification, with 87% of assets potentially liquidated within a week.
Meta and Netflix are projected to see strong EPS growth in 2024, with share prices increasing over 75% and 50%, respectively, in the last year.
Challenges Faced
Negative impacts came from investments in Sierra Rutile, Zillow, and Syrah Resources.
Mixed performance was observed in resource companies; declines in lithium investments and coking coal prices have affected stocks like Whitehaven Coal.
General earnings growth for companies has declined, with increasing P/E ratios making the investment environment more challenging.
The slowdown in China's economy has negatively affected Australia's major exports, such as coal and iron ore.
Volatile interest rates may have implications for investment strategies and economic stability.