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.
