June was a quiet month for portfolio news ahead of the Australian reporting season in August. The team attended several company and industry meetings in relation to prospective and current portfolio companies to gain insight and build a deeper understanding of their respective industries.
We remain confident that the companies in the portfolios will achieve attractive rates of revenue, EPS and DPS growth over the next five years, well ahead of the broader market.
| Portfolio –
|3 years p.a.||8.7||12.8||-4.1|
|5 years p.a.||9.4||8.9||0.6|
|10 years p.a.||11..8||9.9||1.8|
Top 5 Holdings
|Portfolio (%)||Benchmark* (%)|
* Benchmark is the S&P/ASX 300 Accumulation Index.
Past performance is not a reliable indicator of future performance
Carsales.com Ltd (CAR-AU) announced that it is conducting a strategic review and will be pursuing the sale of its 50.1% interest in Stratton Finance Pty Ltd (Stratton). Stratton is a leading player in the asset finance and insurance market, assisting customers finance approximately $750m of assets each year by providing innovative finance arrangements for vehicles, boats and other leisure items, vehicle procurement and other related services. CAR-AU expects to continue its strong commercial relationship with Stratton and allow the business to focus on its other core business growth opportunities across its Australian and international operations. The timing of the sale will be determined following the completion of the independent strategic review, which Miles Partners has been engaged to conduct.
Cochlear Limited (COH-AU) advised that it has received FDA approval for its Nucleus® Profile™ Plus Series cochlear implant and will commence an immediate U.S. launch. The new implant is the thinnest in the world at only 3.9mm and offers improved MRI compatibility without the need to remove the implant’s magnet.
Hyperion named AUSTRALIAN FUND MANAGER OF THE YEAR in the Morningstar 2016 Awards, Australia.
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