The Stonehouse Core Value Portfolio (CVP) generated a positive return of +0.72% for the month of March. The Australian equity market was flat for the month (+0.1%) whilst global equity markets continued to push higher with the MSCI World Ex Australia Index (+1.5% unhedged) posting gains.

Within the domestic equity component of the Portfolio, the smaller company exposure held through SGH ICE (+1.4%) was the best performing strategy. This was followed by IML Equity Income (+1.2%) and Macquarie Australian Shares True Index (+0.7%). Allan Gray Australian Equity (-0.8%) posted a small negative return for the month.

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