SUMMARY
The Fund generated a +2.4% return in January. By way of comparison, the Australian stock market rose by 1.1%, whilst the return of the RBA cash rate plus 6% equated to approximately +0.9% for the month. Financial year to date, the Fund has achieved a return of +6.9%, ahead of the cash plus 6% benchmark of +5.9% for the 7 months, and compared to the market’s growth of 9.1% over the same period.
Whilst the headline market return was positive for January, intra month trading was significantly more volatile, with the index having declined by over 2.3% mid month, before rallying in the last 2 weeks to close up 1%. Encouragingly, despite the initial challenging trading conditions, the Fund’s resilience prevailed, remaining in positive territory throughout, whilst still participating in the month end rally to outperform both the market and the cash plus 6% benchmark for the period.