The fund had a satisfactory September quarter, bouncing off what was a disappointing June quarter. Since our last detailed update in March, the portfolio has continued to display solid performance. Internal estimates indicate returns slightly above 12% p.a. after all fees and expenses since inception almost 3 years ago, up until September 30, 2025.
After handling the requested redemptions during the September quarter, we are possibly left with a subscale fund size. Around the same time this was undertaken, we also paid out another approximate 5% fully franked dividend. (3rd time the fund has done that).
Please be aware that the lower fund size still creates some uncertainty whether the product shall continue in FY27.
Given this issue, we still shall refrain from disclosing exact positions in the portfolio for the time being. In the September quarter we were still overweight in gold equities, which assisted with a bounce back in performance.
Please don’t hesitate to get in touch if you have any questions.
Assurance Capital Pty Ltd 