New Investment or Trade

I sold some Pengana Private Equity (PE1.AX) shares as they are trading above NTA and bought some Cordish Dixon Private Equity Fund III (CD3.AX) shares, which are trading more than 30% below NTA. Of the three traded Cordish-Dixon funds, I selected this one as it is youngest and so I figured has the most potential. Maybe the oldest fund maybe has only more problematic companies left in it, which are harder to sell? It is also the biggest of the three funds because it has made fewer distributions to date.

This was spurred by news that PE1 has made offers to acquire the CD funds, though these have been rejected to date.

In other updates, I have been tied up in other projects and haven't had time to reconcile the accounts for the last couple of months. When I do, I will post reports.

Rates of Return Over 20 Years

 

The graph shows the average annual rate of return over the previous 20 years up to that date. Our target diversified portfolio has had a very consistent 20 year return, as has the ASX 200. The MSCI World stock market index and the S&P 500 have been less consistent. My own performance was not good up to 2020 when seen from a 20 year perspective. By January this year, though, it's almost matching the target portfolio and is near the MSCI World Index (which doesn't deduct management fees). One reason for this, is I did really badly in 2000-2003 in the dot.com crash or tech wreck and so performance is now measured from the low point of March 2023. The chart is measured in Australian Dollars.