The Core Value Portfolio (CVP) returned +1.5% in August, another strong result given the conservative positioning of the Portfolio.
The rally in Australian equities continued in August with the market finishing the month up +3.0%. All Australian share funds in the portfolio produced positive returns. The standout performer was the Bennelong Concentrated Australian Equities Fund (+10.2%) and whose 12 month return is now almost 20% stronger than the index. SGH ICE (+7.7%) and Allan Gray Australia Equity (+4.9%) also contributed significant alpha to the portfolio, whilst the Macquarie Australian True Index Fund (+3.0%) and Firetrail High Conviction (+2.4%) delivered returns in line or just below index.
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