Managed Funds Navra Fund Performance - updated chart

The last quarter of this thread has confused me a bit (not hard to do).

Pertaining to the quarterly distribution; if one has $100k invested (for round figures), and the distribution is 3%, doesn't that automatically equate to $3,000 or does the unit price (when you bought in) factor in there somewhere?

 

Thanx Sim.

The above example is applicable if you bought on the last day of the quarter, what about if you bought in earlier in the quarter, say early June. Would there be a big difference?

 

Guys,

Here's the chart incorporating today's stellar upswing. If the Navra correlation with the ASX200 holds as previously then the extrapolated Retail Application unit price at close of business today should be around the 1.16 mark!

That means that Navra will have recovered all of their losses through the pull back, and be back where it was pre-correction. The ASX200 is still obviously lagging its previous highs circa 5400. That means that its all upside from here on in if the index keeps tracking back towards its previous highs. Of course, it could turn around at a moment's notice as volatility is the theme for now. But if it does recover to 5400 then Navra should track nicely on beyond its own previous high and give us some nice index out-performance.

The black peak to current trend lines give you an idea of what's happened since 11 May 2006 when Navra Retail's application price was 1.163 and the ASX200 closed at 5364.5.

Cheers,
Michael.

PS I've modified the format of the graph a bit as it was getting a bit busy with all those dots representing the daily data points.

 

Thanks Mike.

 

Retail exit price fro 30/6/06 (from InvestorServe) is 1.1530. I'm sure the guys at Navra are busy getting my distributions ready so I'll leave them alone, but has anyone heard what the last quarter's return will be ?

 

I don't know more than you guys, but I'm thinking it will be north of 3%. Not sure how much though...

Cheers
N.

 

Last night I heard it would be more than 10% !!!!!

But then unfortunately I woke up........

 

Navra distributions

I was speaking to Teresa on Friday and she said the Wholesale fund could be between 3.5 and 4percent........Woooo!!


Bob





You never go broke when you have a bob in the house

 

When do they normally advise the amount of the distributions ?

Cheers,

Ben

 

Probably around 10-12 July if history is any guide.

Cheers
N.

 

Hahhahaha you guys are like kids in a candy store, with the packet of lollies sitting tantalisingly on the counter while mum hands over the money to the shopkeep!

Mark

 

What about the US fund?

Anyone have any idea on that one?

Also, whatever the notified distribution is, is that a net figure or is there any type of fees (outperformance fees) to come out of that figure.

 

Hi Smarty

Not sure on US fund, but the website performance figures are always net of any performance fee as far as I'm aware.

Cheers
N.

 

Geez Nige,

you're quicker than lightning. Thanks for that.

 

As a very rough rule of thumb, total cash distributions seem to be about 75% of total performance.

Based on that, and with distributions already received, I would think we'd probably see around 3.5% for the Australian and maybe around 1% for the US Fund. We'll know soon enough though.

Keep in mind that the Australian Distribution will be for 3 months while the US Fund will actually be for 4 months since it started at the beginning of March and there was no initial distribution at the end of March.

In the case of the US Fund, for anyone paying interest on loans etc. I don't think they would think around 1% cash distribution for 4 months was particularly flash , even though there was some index outperformance. Even if the Fund was totally sitting on cash, you would hope you'd be receiving at least that in interest alone.

On the other side of the coin, I don't think the Australian Fund ever did anything spectacular in the first four months either. I guess there is a certain 'settling in' period. A large percentage of new money comes into the Fund and if the market is rising they probably have little initial buying opportunities and relatively large(probably underperforming) cash holdings. The market 'corrects' and begins to create some buying opportunities. A slight recovery begins but the Quarter closes.

It will be very intersting to see how the US Fund performs over the next 6 months or so, as there is certainly an expectation of an outperformance compared to the Australian Fund based on increased volatility.

 

Alan,

Also keep in mind that US Market is different to OZ Market so any "adjustments" to the system require a bit of time.