Sandon Capital Activist Fund September 2016 Commentary

Sandon Capital Activist Fund commentary for the month ended September 30, 2016.

The Sandon Capital Activist Fund delivered a 1.7% return for September, bringing total returns (net of all fees and expenses) since inception to the equivalent of 13.0% per annum. Cash levels ended the month at approximately 10%.

The main positive contribution came from Armidale Investment Corporation Ltd (AIK) whose share price ended the month at 14 cents following the completion of a . . .


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