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Cadence Opportunities Fund Limited (ASX:CDO)

ALERT: Price-sensitive ASX Announcement for CDO
Current share price for CDO : $2.240 0.54 (31.76%)+
Announcement
Release
27 Feb 2025 4:50PM
Price at Release
$1.700
Full Release
download
Summary
Cadence Opportunities Fund Limited (ASX: CDO) reported a half-year loss after tax of $0.3 million for the period ending 31 December 2024, with a portfolio decline of 1.1%. The fund's performance was impacted by a downturn in commodity prices, particularly affecting Metals and Mining investments. However, positive returns were noted from turnaround investments in companies like Netflix and Meta Platforms. The fund declared a 6.5 cent fully franked interim dividend, resulting in a 7.6% annualised yield and continues to operate a buy-back program for shares trading at a discount to net tangible assets.
Key Points
  • Half-year loss after tax of $0.3 million.
  • Portfolio down 1.1% over six months.
  • Top performance contributors included Echo IQ, Netflix, and Iperionx.
  • Major detractors included Whitehaven Coal and BHP.
  • Downturn in commodity prices adversely affected investment performance.
  • Positive returns from Netflix and Meta Platforms due to turnaround strategies.
  • Participation in Echo IQ equity raise provided excellent returns.
  • 6.5 cent fully franked interim dividend declared.
  • Annualised yield of 7.6% fully franked.
  • CDO trading at a 12% discount to NTA.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.