Annual letter 2015

Dear Unitholders,

The Fund generated a satisfactory return during the year as you can see in the following table, which compares the Fund’s return (net of fees) to the Australian All Ords Index and the MSCI World Index.

STAR annual letter 2014

Dear Unit holders,

Thank you to our unit holders for your continued support in the 2014 financial year.

The fund achieved pleasing returns with a 30.8% total return for the year, net of fees.  This continues the strong track record of the fund, which has achieved a gratifying return of 24.8% p.a. over the past 5 years and 11.5% p.a. over more than 10 years.  It compares favourably with returns of the Australian All Ordinaries index (including dividends) and the MSCI World Index, as you can see in the following table.

Annual Letter 2013

Dear Unitholders,

Our fund generated a satisfactory return during the year, but underperformed both Australian and world share markets as you can see in the following table.

The craziest bond investment?

Anyone who has ever borrowed money has worried about what would happen if something bad happened to them, and they had trouble repaying the loan. As a borrower, you run the risk that your home, your car and other assets could be at risk if you cannot make your payments. This is because there is a general rule that lenders’ interests rank ahead of borrowers’ interests when dealing with a troubled borrowers’ assets.

Welcome to Fred's new Diary Blog

Here you will find my occasional jottings, personal views and opinions.

Look out for my first post in coming days...

- Fred.