SUMMARY
The Fund demonstrated its defensive positioning in December, declining 0.9% for the month and preserving positive returns of 1.1% for the quarter. By way of comparison, the Australian Stock market declined 3.1% in December and 0.9% for the quarter. Our benchmark, the RBA Cash rate +6% equated to 0.9% and 2.5% respectively.
For the 12 months ended December 2024, the Fund generated a return of +11.1%, exceeding the benchmark return of RBA cash rate plus 6% of +10.4% whilst the Australian stock market returned +11.4% over the same period. This marks the Fund’s second consecutive year of double-digit returns, both exceeding its benchmark. The Fund’s approach has been particularly gratifying, as it participated in periods of market strength while showing resilience in weaker months, achieving these results with lower volatility than the broader market.