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NTA POST-TAX
NTA PRE-TAX
INVESTMENT PERFORMANCE1
DIVIDEND YIELD2
CONSECUTIVE DIVIDENDS PAID
1. Investment performance since new mandate adopted 1 July 2017.
2. Dividend yield is based on current displayed share price and dividends declared over the previous 12 months
3. Grossed up yield is based on current displayed share price, dividends declared over the previous 12 months and the tax rate and franking percentage applicable for the most recently declared dividend
SUMMARY
In November 2021, the portfolio returned 3.4% compared to the MSCI World Index (Total Return in AUD) which rose 3.6% for the same period. Financials stock selection helped due to the strong performance of Tradeweb, an electronic fixed income marketplace, which reported strong trading volume growth. Health Care performance was relatively weak. Despite reporting strong earnings, shares of genetic sequencing company Illumina fell as the EU ordered Illumina to not consolidate its recent acquisition of GRAIL, a provider of cancer-tracing blood tests. European stock-picking helped as Schneider Electric shares gained after management unveiled higher organic growth targets. Emerging Markets stock selection detracted as Chinese property manager Country Garden Services fell on news it will raise capital for acquisitions.