Navra Funds - Year End Results

[Steve Navra]

Financial Year End Results:
Navrainvest Wholesale Fund: 22.40% net.
Navrainvest Retail Fund: 22.42% net.

Quarterly distributions:
Navrainvest Wholesale Fund: 3.88%
Navrainvest Retail Fund: 5.05%

Annual Distributions:
Navrainvest Wholesale Fund: 15.50%
Navrainvest Retail Fund: 16.17%

Gearing:
The Navrainvest funds are NOT geared funds, however individual clients can gear up to their own level of comfort.

Clients who geared at 50%:
22.40% X 2 = 44.8% less 8% x 1/2 (Interest cost of 50% of the investment)
40.80% net

Clients who geared at 67%:
22.40 X 3 = 67.20 less 8% x 2/3 (Interest cost of 67% of the investment)
61.87% net

All in all a very satisfactory year

Please refer to Meeting Point for details of the end year Cocktail Party.

Regards,
Steve

[perky29]

Thanks Steve - so with the wholesale that 3.88% equates to approx 3.55 cents per unit. Happy with that.

[aidan_opan]

why would the annual return for the retail fund be higher than the wholesale fund if the fees are lower in the wholesale fund?

[Sim]

aidan_opan - don't forget the retail and wholesale funds are two separate entities and have their own pools of money and hence their trades - while similar, would be of different volumes, hence different returns result.

[Steve Navra]

Originally Posted by aidan_opan

why would the annual return for the retail fund be higher than the wholesale fund if the fees are lower in the wholesale fund?

Hi All,

These are the very questions that I will be answering at the cocktail party

Regards,

Steve

[Alan H]

Did I just read over 5% for the Quarter?

I did......I did.........

Great result Steve. Congratulations.

[Mikhaila]

It is a very strong finish and extremely pleasing result indeed. As Sim said in another thread index over performance isn’t something to be a sneezed at.

Also, as a company unit holder it is very nice to see some performance fees.

M.

[twodogs]

Originally Posted by Steve Navra

Clients who geared at 50%:
22.40% X 2 = 44.8% less 8% x 1/2 (Interest cost of 50% of the investment)
40.80% net

Clients who geared at 67%:
22.40 X 3 = 67.20 less 8% x 2/3 (Interest cost of 67% of the investment)
61.87% net

Regards,
Steve

I geared at 100%, but the maths was just too hard to work out a percentage, so I just look at the $$$

[Glebe]

Great work Steve.

[bawley]

Is it possible to see the current unit price on the Navrainvest site??

thanks
Bawley

[Sim]

Yup - http://www.navrainvest.com.au/index....nt=unit_prices

[bawley]

thanks Sim

Pardon me if this is very stupid. I understood unit prices reverted to $1 at beginning of financial year. If this is so, with a -ve return ytd I thought unit price would be less than $1?????????

Bawley

[Sim]

No - your understanding is not correct.

Unit prices are simply a function of the total value of the fund divided by the number of units currently issued.

Unit prices do usually drop a bit at the end of each quarter once the distributions are made - since the value of funds held will drop as cash is distributed.

[twodogs]

Originally Posted by Glebe

4 8 15 16 23 42

OK, I give up what do these numbers mean

[Glebe]

Maniyak,

I don't suppose you've watched the TV show 'Lost' before?

http://www.tv.com/lost/numbers/episo...5/summary.html