The Core Value Portfolio (CVP) returned +0.67% in October, as volatility caused mixed results across markets.
The Australian equity market began strongly but gave up some of its gains towards the end of the month, finishing up (+1.9%). The Allan Gray Australian Equity Fund (+2.9%), Firetrail Australian High Conviction Fund (+2.3%), and Bennelong Concentrated Australian Equities Fund (+2.3%), all made solid contributions to performance and outperformed the index. The other exposures in the portfolio, the Macquarie Australian Shares True Index Fund (+1.9%) and the SGH ICE (+1.3%) generated results broadly consistent with the index.
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