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GLOBAL MASTERS FUND LIMITED — Net Asset Value 2020
May 6, 2020
64981_rns_2020-05-06_fc928506-1167-4221-97d8-1dfcc0a5bbd6.pdf
Net Asset Value
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7 May 2020
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Company Announcements Office ASX Ltd, Exchange Centre Level 6, 20 Bridge Street SYDNEY NSW 2000
Dear Sir
Net Tangible Asset (NTA) backing per share at 30 April 2020
The unaudited NTA backing per share of the Company at 30 April 2020 was as follows:
| Beforeestimated tax onunrealisedgains | Afterestimated tax onunrealisedgains | |
|---|---|---|
| at 30 April 2020 | 233.1 c | 204.3 c |
| at 31 March 2020 | 233.8 c | 204.7 c |
The NTA figures shown above are before and after the provision for deferred tax on the unrealised gains in the Company’s investment portfolio. The Company is a long-term equity investor and does not intend to dispose of its total portfolio. During April 2020, the market value (in US Dollars) of Berkshire Hathaway shares on the New York Stock Exchange increased compared to the previous month-end. This was however, more than offset by a stronger Australian Dollar at month-end. The market value of the UK Portfolio increased (GBP) over the month but was partially offset by a strengthening of the Australian dollar against the GBP. The share price of Athelney Trust plc listed on LSE decreased at month end. Flagship Investments Limited (FSI) listed on the ASX, recovered well during April 2020 increasing by more than 12 %. The unit price of BCI Worldwide Fund increased at month end (in Rand terms) whilst the value of the Australian Dollar increased against the South African Rand. The overall effect of the above was a slight decrease in the Net Tangible Asset Backing per share of Global Masters Fund Limited at 30 April 2020.
The summary of investments of the Company at 30 April 2020 were as follows:
| Name of Company | Percentage of Total Portfolio |
|---|---|
| Berkshire Hathaway (NYSE) (BRK) | 63.85% |
| FlagshipInvestments Limited(ASX) (FSI) | 7.91% |
| BIP BCI Worldwide Flexible Fund Class B | 5.37% |
| AthelneyUnit Trust PLC(LSE) (ATY) | 2.75% |
| Other UK | 19.44% |
| Cash | 0.68% |
For further information please call the Company Secretary on 1800 352 474.
Yours faithfully,
GLOBAL MASTERS FUND LIMITED
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Authorised by
Brian Jones
Company Secretary
Global Masters Fund Limited ABN 84 109 047 618
Tel: +61 1800 352 474 Fax: +61 7 5574 1457 Email: [email protected] www.globalmastersfund.com.au
C/- EC Pohl & Co Pty Ltd Level 12 Corporate Centre One 2 Corporate Court Bundall Qld 4217 Australia