2008 Fund Performance

Unfortunately, and as predicted last year, we had a lousy return of -17.3% for 2008. Whilst not unexpected and probably reasonable given the carnage on the share market, it is nonetheless disappointing. However, we have no intention of following the herd and selling out given that we feel the companies we are invested in are good quality and their performance will reflect that in the longer term.

But stay tuned for 2009 when I expect the result to be far worse...

Holdings include shares in the following companies, managed funds, listed and unlisted trusts and derivatives:

• ARB Corporation
• Asciano Group (split out from Toll)
• Austgrowth Property Syndicate No 23 (St Kilda Road)
• BHP Macquarie Self Funding Instalment Warrants
  
• BlueScope Steel
• ConnectEast Group
• Macquarie Equinox Class C
• Macquarie Group Limited
  
• Mirvac Real Estate Trust (formerly JF Meridian Trust)
• National Australia Bank
• OM-IP 140 Plus (Aud) Limited Fund (Man Group)
  
• OrotonGroup
• QBE Insurance Group
  
• The Reject Shop
• Toll Holdings
• Virgin Blue Holdings
  
• Wesfarmers Macquarie Self Funding Instalment Warrants
• Woolworths Macquarie Self Funding Instalment Warrants

2007 Fund Performance

In typical fashion I have neglected to post information to this blog until way after the event. In that vein, the Bainsworld Superannuation Fund produced an investment earnings rate for 2007 of 42.7%, a huge improvement on 2006 as we predicted it would be. Some of our investments didn't do so well the previous year and so when the market supercharged, they grew much faster than you might otherwise have expected. No doubt that will be reflected in reverse with the 2008 market downturn.

Holdings include shares in the following companies, managed funds, listed and unlisted trusts and derivatives:

• ARB Corporation
• Asciano Group (split out from Toll)
• Austgrowth Property Syndicate No 23 (St Kilda Road)
• BHP Macquarie Self Funding Instalment Warrants
  
• BlueScope Steel
• ConnectEast Group
• Macquarie Equinox Class C
  
• Mirvac Real Estate Trust (formerly JF Meridian Trust)
• National Australia Bank
• OM-IP 140 Plus (Aud) Limited Fund (Man Group)
  
• OrotonGroup
• The Reject Shop
• Toll Holdings
• Wesfarmers Macquarie Self Funding Instalment Warrants
• Woolworths Macquarie Self Funding Instalment Warrants

We disposed of our Alinta shares after holding them for 3.4 years as Babcock and Brown made an offer too good to refuse. The After Tax Internal Rate of Return on this investment was 41.7%, not too shabby.