Approaching the holiday period, December was a relatively quiet month in terms of portfolio news. Notably, Trade Me Group Limited (TME-AU) entered into an agreement under which funds advised by Apax Partners will acquire 100% of its shares for NZ$6.45 per share. As we move into 2019, the domestic market will set its focus on the upcoming February reporting season.
Australia’s S&P/ASX 300 Accumulation Index was the best performing developed global index, returning -0.2%. Energy (+6.5%), materials (+6.1%), and communication services (+5.5%) were the best performing sectors, whilst utilities (-4.5%), industrials (-0.9%) and health care (-0.5%) were the worst performers.
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.||3.3||6.7||-3.4|
|5 years p.a.||7.3||5.6||1.7|
|10 years p.a.||12.1||8.9||3.2|
Top 5 Holdings
|Portfolio (%)||Benchmark* (%)|
* Benchmark is the S&P/ASX 300 Accumulation Index.
Past performance is not a reliable indicator of future performance
Hyperion named AUSTRALIAN FUND MANAGER OF THE YEAR in the Morningstar 2016 Awards, Australia.