Update from the CIO

Welcome to the CIO blog

Today we posted a pre-tax NTA of $3.18, up from $3.07 last week, and the share price opened this morning at $3.10.

As you probably know, a large portion of our portfolio is held in US listed companies, and so with the reporting season now underway, we are getting more colour on how our companies are performing. For the companies that reported last week, we are pleased to say that the numbers were pretty good. The domestic reporting season also gets underway this week, and the Aussie dollar is weaker after stronger than expected economic numbers out of the US on Friday night.

Our conference stocks in particular have been performing very well lately, with Pagseguro (PAGS.US) now up over 120% in AUD terms since we invested. We will be profiling Beeneet Kothari (the manager who pitched Pagseguro last November at the Conference) in our July monthly report to be released next week. He is also a confirmed speaker for the Conference in November.

Another of our conference stocks, Bandai Namco, (7832.JP) was recently announced as an inclusion in the Nikkei 225 from next month. It is up 10% since the start of July, and almost 28% in AUD terms since we invested.

Overall, our conference stocks are now up 32% since inception, while the core stocks are up just over 26%.