With equity markets continuing to push higher, the Stonehouse Core Value Portfolio (CVP) generated a positive return (+1.90%) for the month in February. Given the Australian equity market’s strong performance (+5.3%), all domestic equity managers positively contributed led by Allan Gray Australia Equity (+6.2%) which outperformed the market return and the beta exposure held in…

After a very difficult month in December, the Stonehouse Core Value Portfolio (CVP) generated a positive return of +1.68% for January. This was assisted by strong equity markets, with both the MSCI World Ex Australia Index (+4.1%) and Australian equity market (+4.0%) bouncing back. Within the domestic equity component of the Portfolio, all managers provided…

December was a terrible month for global equities, especially the US equity market (S&P 500) which posted its worst December result since 1931. Even US tech stocks, which had previously seemed almost invulnerable, were not immune and the NASDAQ fell heavily. The MSCI World Index lost -4.1% and the Australian equity market lost -0.7%. The…

The Stonehouse Core Value Portfolio (CVP) posted a return of -1.48% in November. The month saw further equity market weakness with the MSCI World Ex Australia Index losing -1.8% and the Australian equity market losing -2.8%. Within the domestic equity component of the Portfolio, the largest detractor was Allan Gray Australian Equity (-4.7%), a contrarian…

The Stonehouse Core Value Portfolio (CVP) posted a return of -3.34% in October. The month produced the most significant pull-back in global equity markets since 2015 with the MSCI World Index losing (-5.4%) and the Australian Equity Market losing (-6.5%). Within the domestic equity component of the Portfolio, the largest detractor was the beta exposure…

The Stonehouse Core Value Portfolio (CVP) returned -0.20% in September as volatility returned to equity markets. The Australian equity market posted a negative return (-1.60%) while the MSCI World Index posted a modest gain (+0.60%) led by the Japanese equity market (+5.5% in local terms). Within the domestic equity component of the Portfolio, Allan Gray…

The Stonehouse Core Value Portfolio (CVP) returned a solid +1.23% in August. The month saw the Australian and global markets (as represented by the unhedged MSCI World Index), post gains of +1.4% and +4.1% respectively, but a large dispersion of returns between sectors was evident. Bond markets were volatile and the Australian dollar depreciated further…

The Stonehouse Core Value Portfolio (CVP) returned +0.29% in July. Negative sentiment vied for prime position in global markets through the month but in the end both Australian markets (+1.2%) and the MSCI World Index (+2.5%) posted gains. The domestic component of the Portfolio’s equity investments performed well in July with IML Equity Income (+1.6%)…

The Stonehouse Core Value Portfolio (CVP) returned +0.55% in June 2018 and +5.91% for the 2017/18 financial year – a pleasing result that exceeded our stated performance objective of cash +3.5%. The primary drivers of performance for the year were domestic and international equity markets, however given our aim to provide investors greater downside protection,…

The Stonehouse Core Value Portfolio (CVP) returned -0.39% in May, as volatility during the month and mixed performance from underlying holdings impacted returns. Within the Portfolio’s Australian Equity holdings, SGH ICE (+2.6%) outperformed the index whilst Allan Gray (-1.4%) underperformed. Our International Equity managers exposed to Asia and Emerging Markets were the largest detractors, as…

© 2015 Stonehouse