PRESS RELEASE FOR IMMEDIATE RELEASE
CLIME VALUE GROWTH FUND SURGES 61.3% IN 2009
Outperforming the S&P/ASX Accumulative Index by 24%, the Clime Value Growth
Fund (CVGF) continued its stellar performance with a 61.3% gain in value over 2009.
CVGF is a retail unlisted unit trust and had $20.8 million of funds under management as
at 31.12.09
Since its inception in August 2006, the Clime Value Growth Fund has shown a return of
+30.96%.
However, this is not a high-risk investment. Clime Asset Management shuns speculative
stocks, limiting their investment to 20 or so companies that the Fund Manager has
identified as outstanding value. If such businesses cannot be found, the Fund will revert
to cash. Indeed, in December, the Fund’s cash position was increased slightly to 14.7%,
based on the sustained rise in the market during 2009 with investments becoming fully
valued.
Commenting on the 61.3% gain in value for the CVGF, John Abernethy, Clime’s Chief
Investment Officer said: “We are delighted with our 2009 result. We anticipate that 2010
will be a challenging year for equity markets. While there are positive sentiments in
Australia and China, this could be negated by developments in the US, Europe and Japan.
Price and volume increases in our major export markets are supporting our economy and
the ASX generally. There may be some negative effect of the $A rising against a
weakening $US.”
The CVGF has nil entry, contribution and withdrawal fees. Management fee is 1.03% p.a.
with recoverable expenses capped at 0.52% p.a. There is a performance fee of 15.38% on
outperformance above a benchmark 12% p.a., after expenses.
John Abernethy, a 25 year investment fund veteran, heads the Clime Asset Management
Investment team. Clime has approx. $200 million of funds under management.
Clime Asset Management is 100% owned by Clime Investment Management
(ASX:CIW)
________________________________________________________
For further information, please contact:
John Abernethy
Chief Investment Officer
Phone 89172107
john@clime.com.au
Paul Jensen
Managing Director
Phone 89172110
paul@clime.com.au
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