InvestNow News 13th Sep – Salt – Performance Update – August 2019

New Zealand equities fell slightly in August, with the S&P/NZX50 down -0.93% in the month. However, the index has returned +15.50% for the 12 months to the end of August.  The Salt Dividend Appreciation Fund declined by a marginal -0.27% in the month.  The largest contributor by some distance was the Fund’s large overweight in Spark (SPK, +11.1%) which refuted broking analyst concerns and delivered an in-line result.

For more detail, the latest Salt Dividend Appreciation Fund fact sheet can be found here.

The inexorable advance of the S&P/NZX All Real Estate Gross Index continued in August, with a further positive return of +3.18%. This was the tenth consecutive monthly advance and makes for a scarcely believable annual return of +35.3%. The Salt Enhanced Property Fund returned +2.81% for the month of August.  The way was led by Garda Capital (GCM, +13.3%, GDI Property (GDI, +9.1%) and Centuria Industrial (CIP, +5.7%).

For more detail, the latest Salt Enhanced Property Fund fact sheet can be found here.