Cadence Opportunities Fund Half Year Results Overview

Cadence Opportunities Fund Limited (ASX: $CDO) has reported a half year profit after tax of $0.9m. The portfolio returned 3.6% over the six months to 31 December 2023. The company also declared a 6.5 cent fully franked half-year dividend, equating to an 8.1% annualised fully franked yield or a 11.6% gross yield.

Executive Commentary on Performance and Outlook

Karl Siegling, Chairman, stated, 'Core investments across the resources and energy sectors were again a major driver of returns for the fund in the period, continuing the theme witnessed over the past 18 months. The fund has delivered returns with significantly lower than market volatility over the past six months. We have been closely monitoring the current uptrend in interest rates and continue to focus on implementing the Cadence process that has served us well through market cycles.'

Summary of Half Year Results and Outlook

Cadence Opportunities Fund Limited (ASX: $CDO) reported a 3.6% portfolio return and a profit after tax of $0.9m for the half year ending 31 December 2023. The company declared a 6.5 cent fully franked half-year dividend, with an annualised yield of 8.1% fully franked (11.6% gross including franking). The fund has been closely monitoring the current uptrend in interest rates and continues to focus on implementing the Cadence process that has served well through market cycles. The company is trading at a 19% discount to NTA, and the dividend re-investment plan (DRP) will be in operation for this interim dividend.