• Gus Crennan

Balmoral Fund Two Year Update

Dear all,

It is with great pleasure that I can announce our two year results for the Balmoral Fund given we celebrate Australia Day 2019.

Over the two years to 26 January 2019, after fees, the Balmoral Fund has delivered returns of 21.3%. Over two years this equals a compound annual growth rate of 10.14%.

Over the same period our global shares benchmark, the MSCI World, has increased 13.7% which is a compound annual growth rate of 6.63%.

Although two years remains a short period of time I take this as strong affirmation in our process and investing philosophy. I also think we can fairly claim to be doing well.

As always if anyone would like additional information please let me know.

Happy Australia Day and all the best


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