CBG Capital Announced Its Interim Portfolio Valuation Update For March 2019

CBG Capital Limited (ASX: CBC) is an ASX listed investment company based in Australia. The main aim of the company is giving the investors an access to a listed investment vehicle, which handles a portfolio of investments in the listed companies of Australia. The company manages a diversified portfolio of equities which are listed on the ASX, with the criteria of at least 75% of the portfolio weight, in stocks from the S&P/ASX 200 index. That leaves a maximum of 25% of the entire portfolio, which could be invested in stocks, not included in the S&P/ ASX 200 index.

On 2nd April 2019, the company announced its Interim Portfolio valuation update for March 2019. It stated that the gross value of the Company’s investment portfolio was approximately $26.7 million at the closing of business on 29th March 2019. The mentioned value is $0.6 million more than the reported value of $26.1 million as on 28 February 2019, which accounted to the gross return of decent 2.3% in March 2019. If compared to the 31st December 2018 portfolio, the company has garnered an increase of $3.7 million from the reported gross value of $23 million.

On 1st March 2019, the company announced its Interim Portfolio Valuation Update for February 2019. It stated the gross value of the Company’s investment portfolio to be approximately $26.1 million at the closing of business on 28th February 2019. The mentioned value is $1.8 million more than the reported value of $24.3 million as on 31st January 2019, which accounted to the gross return of decent 7.3% in February 2019. This return of 7.3%, when added to the January return of 5.8%, adds up to the total return of 13.5% return since the beginning of the year 2019.

Two weeks after the release of Interim portfolio update for February 2019, the company released an investment update and NTA review for the same month. The company reported good portfolio return of +6.1% net of fees and pre-tax on unrealised gains/losses in February, compared to a +6.0% return for the S&P/ASX 200 Accumulation Index. Some of the highest contributors in the portfolio were Webjet (WEB, +30.7%), Jumbo Interactive (JIN, +31.9%) and Lovisa (LOV, +38.8%). Some of the major detractors were Bingo Industries (BIN, -35.9%), Citadel (CGL, -17.0%) and HUB24 (HUB, -10.1%).

The company’s Net tangible Assets (NTA) before tax stood at $1.02 in February 2019, which is an increase by $0.06 from January 2019, while NTA after tax rose from $0.94 to $0.99 in the same period. The company is yet to release the full review of NTA prior to 15 April 2019.

On 19th February 2019, the company declared a fully franked dividend of 1.7 cents which is to be paid to all the shareholders by 23rd May 2019. The ex-date and record date for the dividend are 2nd May 2019 and 3rd May 2019 respectively. The standard dividend reinvestment plan (DRP) will apply to this dividend, with DRP election date being 6th May 2019.

The company’s stock closed the day, by falling 2.1% down to A$0.93 as on 2nd April 2019, compared to the previous closing of A$0.95. In the last six months, the stock has fallen by 3.55% while YTD return stands at 4.4%.


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