The Stonehouse Core Value Portfolio (CVP) generated a return of +1.04% in July in a month which saw both the Australian equity market and the MSCI World Ex Australia Index post solid gains.

Within the domestic equity component of the Portfolio, the best performing strategies were the small cap exposure held through SGH ICE (+3.9%) as well as Allan Gray Australia Equity (+3.9%), both outperforming their indices. The remaining two Australian equity exposures, Macquarie Australian Share True Index (+3.0%) and the defensive, income focused strategy IML Equity Income (+1.1%), also provided positive returns.

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