The Stonehouse Core Value Portfolio rose +0.5% in August, in a month that also saw the Australian share market (+0.7%) finish higher, while the MSCI World (+0.2% in AUD Hedged terms) delivered a small positive return. The Australian dollar gave back some of the previous months’ strong performance (-1.0%), while Australian bonds rose +0.2% and safe haven assets such as Gold Bullion (+6.4%) surged in a month of heightened geopolitical risk.
The International Equity managers were mixed for the month, with major contributors including the Portfolio’s recent addition JO Hambro (+3.0%), Northcape Emerging Markets (+2.9%), Janus Henderson Global Natural Resources (+2.9%) and Old Mutual (+0.3%). Platinum International has continued its strong recent performance, returning +2.5%. Detractors included Lansdowne European (-0.8%) and Wingate (-0.1%).
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