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| Fund Overview | |
| Manager Comments | The domestic full year reporting season was largely as expected with the market (ex resources) delivering +5% earnings growth an improvement from +2% the previous year from continued cost out which offset weak revenues. Dividends were again increased with the ASX200 payout ratio now 70% and close to its' historic peak. Fund performance was reasonably solid for August, with the long portfolio once again exceeding the negative impact from the short portfolio. Intra-month portfolio volatility increased as there was quite a few large share price swings around the release of full year earnings, with some focus on headline results. The vast majority of outlook statements given during the reporting season were relatively cautious. However, most companies felt that a decisive victory in the upcoming federal election would help confidence and stable policy would help accelerate investment. |
| More Information | » View detailed profile of this fund |
