We are pleased to be able to deliver the July NAV, and we are content with the result, despite it being the lowest the fund has ever recorded. Currently, the fund suffers from a cash-drag of 45 % (including the 10 % liquidity) which is 35% above the ideal.
EPF has attractive transactions waiting for the release funds, and we expect to place these deals in the very near future. With a reduction of the cash-drag, the fund will enjoy an immediate and significant uptick in performance. We remain satisfied that EPF, despite the above, is still able to produce a performance which comfortably surpasses that offered by banks and many deposit instruments.
With improved results following the placing of the new transactions, Investors can relax in the knowledge that overall performance for 2018 will still be within the target range.
Furthermore, we are delighted to announce that our peers have presented EPF with another award. “Wealth & finance.” voted EPF – The best investment fund 2018 in the subcategory “best event-driven strategy fund 2018
At this moment we are working on the September NAV, and we expect to release the August NAV very shortly.
Wishing you a successful last quarter!