The Stonehouse Core Value Portfolio (CVP) generated a return of +0.36% in October. Performance of equity markets was mixed, with the Australian equity market posting a small loss (-0.37%) and the MSCI World Equity Index posting a small gain (+0.41%).
Within the domestic equity component of the Portfolio the best performing strategy was the small cap exposure SGH ICE (+1.8%) as some normality in fundamentals returned to the small cap sector. This was followed by Firetrail Australian High Conviction (+0.3%) and IML Equity Income (+0.1%). The biggest detractor was Allan Gray Australian Equity (-2.9%) followed by the beta exposure held in Macquarie Australian Shares True Index (-0.4%).
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