To view the Affluence LIC Fund July 2019 Report, click here.
The Affluence LIC Fund provides access to a diversified portfolio of ASX Listed Investment Companies (LICs) selected by Affluence. From this portfolio, we aim to outperform the ASX200 Accumulation Index over rolling three year periods, with less volatility than the stock market. The Fund provides exposure to a broad range of underlying investment styles, investment strategies, and geographies.
Affluence LIC Fund July 2019 Summary
The Affluence LIC Fund had its best month ever in July 2019, increasing by 5.1% while the ASX 200 Index rose 2.9%.
Returns since inception for the Fund are 10.0% per annum. These returns have been delivered with approximately half of the volatility of the ASX 200 Index.
The Fund’s most significant positive contributors in July were NGE Capital (NGE) up 36%, WAM Leaders (WLE) up 7%, Ryder Capital (RYD) up 12% and Antipodes Global Investment (APL) up 6%. Pleasingly, there were no material detractors for the month. The uplift in share prices came through a combination of increasing NTA’s and a reduction in the overall discount to NTA.
Discounts to NTA remain very attractive and set the Fund up well for the medium term.
At the end of July, the Fund held investments in 33 LICs representing 98% of the Fund. The balance of 2% was cash. We realised some holdings early in August and cash is back above 5% as we write. We believe the Fund remains well positioned to withstand most market conditions.
Effective 8 August, the Fund is open to all investors with a minimum investment amount of $20,000. The cut-off for this month’s applications is 31st July. Units will be issued effective 1st August. Alternatively, you can gain access through our Affluence Investment Fund, which currently invests around 15% of its portfolio in the Affluence LIC Fund.
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