Interim Update – 2Q18
A very quick update until I can provide you the final financial and tax information from our Fund’s accountant for the financial year. As I wrote to you all at the start of July that information is expected at end July or early August. Once I have the final numbers I will provide you each a more detailed update together with the tax information you will need for your tax returns.
Our preliminary unit price, after fees, as at end June 2018 was $1.14892. Because our Fund will be distributing income that unit price will change shortly. However, because we are all reinvesting our distributions to grow our capital, you will each receive additional units to represent your capital remaining in the Fund.
Prior to the changes this distribution will represent, from inception on Australia Day 2017 to the end of June 2018, our fund has delivered gains of 14.89% which translates to a simple annualized return of 10.45% after fees and expenses. Those returns have been achieved by purchasing reasonably priced stakes in businesses which consistently generate attractive levels of cash using limited or no leverage.
As at end June 2018 we collectively part-own 20 companies. Between end March 2018 and end June 2018 we sold our stakes in 3 companies (only because the offered prices were so attractive) and purchased two new stakes. I will provide more detailed information on our portfolio when the distribution and tax information is available shortly.
If anyone would like more information in the interim please let me know.