CDO - Cadence Opportunities Fund

[System]

Cadence Opportunities Fund Limited has been established to provide investors with access to an actively managed long biased long/short portfolio predominately comprised of listed Australian and international securities.

The investment strategy is designed to capture not only necessary fundamental information but also underlying price trends (identified through technical research) for each security that the company invests in. This process reflects the Manager's belief that:

(a) security prices are influenced by fundamental information; and
(b) markets and security prices behave in trends. These price trends are both short-term (approximately 6 to 18 months) and long-term (approximately 2 to 5 years) in nature. Furthermore, within a long-term price trend, there may be multiple shorter-term price trends.

The investment strategy involves identifying and incrementally accumulating and exiting core positions and trading positions as the prices of the underlying securities trend with or against the investment.

Positions within the portfolio will be scaled into (entered or increased) and out of (exited or decreased) incrementally. This entry and exit process is intended to be an important factor in managing portfolio risks.

In constructing the portfolio, the Manager will focus on benefiting from investment opportunities created by shorter term price trends identified through technical research.

It is anticipated that CDO will list on the ASX during December 2018.

https://www.cadencecapital.com.au/cadence-opportunities-fund/

 

[Dona Ferentes]

Listing date	19 November 2021 10:30 AM AEDT ##
Contact details	https://www.cadencecapital.com.au/cadence-opportunities-fund/ Ph: +31 2 8298 2450
Principal Activities	Investment company
GICS industry group	TBA
Issue Price	AUD 2.7716
Issue Type	Ordinary Fully Paid Shares
Security code	CDO
Capital to be Raised	$25,000,000
Expected offer close date	3 November 2021
Underwriter	N/A

........ CDO listed today. Opened at $2.80, got as high as $3.10 and closed at $3.00

(gee, wonder what the fees are?)

 

[divs4ever]

INVESTMENT UPDATE

January 2024 Cadence Opportunities Fund returned a positive gross performance of 2.7% in January, outperforming the All Ordinaries Accumulation Index by 1.6% for the month.
During January the fund further invested its cash as more new investments were identified and as existing investments that continued to trend up were added to.
The top contributors to performance during January were Whitehaven Coal, Meta Platforms, Netflix, Austin Engineering, Alumina, QBE Insurance and Smartgroup.
The largest detractors from performance were BHP, Evolution Mining and Syrah Resources.
Whitehaven Coal continued to perform well following its announcement of the acquisition of the Daunia and Blackwater metallurgical coal mines from BHP. Once the acquisition is complete Whitehaven Coal will derive approximately 70% of its revenue from metallurgical coal and 30% from thermal coal.
The move to predominantly metallurgical coal was well timed, as thermal coal prices have fallen since the acquisition announcement, whereas metallurgical coal prices have risen. Meta Platforms has had an excellent start to the year, with the share price rising 32% so far in 2024.
On the 1st of February Meta Platforms released their fourth quarter results which significantly beat expectations. Online shopping companies in China such as Alibaba and Temu continued to drive strong demand globally for advertisements on Facebook and Instagram. Meta Platforms net income of USD 39b for 2023 was a 69% improvement on the 2022 result, and we expect 2024 to be another year of strong income growth for Meta Platforms.
CDO Share Price discount to NTA At the time of writing this newsletter, CDO is trading at a pre-tax NTA discount of around 21% whilst holding cash balances.
If all the shares in the portfolio fell by 23% the pre-tax NTA would still be above the share price. To put it another way, the shares in the portfolio can be bought at a 23% discount to their underlying value.


i do not hold this share ,

but do hold stable-mate CDM , WHC ( 'free-carried ' ) BHP EVN, QBE and ANG