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Cadence Opportunities Fund Ltd. ( (AU:CDO) ) has shared an update.
Cadence Opportunities Fund reported a gross performance of 3.1% in January, falling short of the All Ordinaries Accumulation Index’s 4.4% increase. Key contributors to the fund’s performance were Echo IQ, Evolution Mining, Meta Platforms, Netflix, West African Resources, Queensland Pacific Metals, and QBE Insurance, while the largest detractors included IperionX, Westgold Resources, and Robex Resources. Evolution Mining achieved record cash flows driven by high gold prices and a weak Australian dollar, and Meta Platforms reported strong fourth quarter results with significant net income growth. Additionally, Cadence Opportunities Fund is trading at a 13% discount to its pre-tax NTA and has initiated an on-market buy-back of shares to address this valuation gap.
More about Cadence Opportunities Fund Ltd.
YTD Price Performance: 2.44%
Average Trading Volume: 13,097
Technical Sentiment Consensus Rating: Hold
See more insights into CDO stock on TipRanks’ Stock Analysis page.
