24.09.2016 $2.8385 $2.8286 $2.8187
Performance* (as at 31 August 2016)
Fund 4.4% 16.1% 7.1% 10.1% 7.3% 12.0%
ASX300 2.2% 9.7% 6.6% 9.5% 5.1% 8.9%
Margin +2.2% +6.4% +0.5% +0.6% +2.2% +3.1%
* Fund performance is net of all fees and expenses, and assumes reinvestment of distributions. Investments can rise and fall in value. Past performance is not necessarily indicative of future performance. The fund currently invests substantially in smaller companies that may involve unique risks. The Product Disclosure Statement details the risks associated with an investment in the fund and is essential reading for investors.
The Ganes Focused Value Fund was established in 2002 with a mandate to invest in listed Australian equities. The Fund comprises a concentrated portfolio of better-than-average businesses, in terms of profit margins, return on equity, balance sheet debt, cashflow and prospects for future growth - and can be bought at a price which the manager anticipates will deliver above average returns over the medium to long term.
The Fund has been co-managed since inception by Dr Clive Gaunt and Mr Wayne Jones. Between them, Clive and Wayne also have extensive academic and business experience.
Notice of change of auditor
Letter to Unitholders regarding Change of auditor