The Jack Brockhoff Foundation's portfolio closed the year valued at approximately $47.5 million. With the exception of a small holding in cash deposit and operating accounts assets are managed by Deutsche Bank, Macquarie Private Portfolio Management, and Vanguard Investments, in accordance with the Foundation’s investment guidelines.
Over a challenging year for investment markets The Foundation’s corpus reduced in value by approximately $3.0 million[1] (5.84%), comprising portfolio disbursements and expenses of $2.46 million and investment losses of roughly $520,000.
Over a challenging year for investment markets The Foundation’s corpus reduced in value by approximately $3.0 million[1] (5.84%), comprising portfolio disbursements and expenses of $2.46 million and investment losses of roughly $520,000.
The worst performer was Vanguard Australian High Yield Fund, which was responsible for losses of more than $547,000 despite holding less than 17% of Foundation assets. Both Deutsche Bank and Macquarie also underperformed their benchmarks, although they each managed to deliver a slightly positive return.
[1] Accruals basis
NB: Asset-Weighted Benchmark calculated as index or benchmark return weighted to portfolio allocation, without style bias. Vanguard's asset-weighted benchmark (ASX300) is 0.88%, while nominated benchmark (ASFA High Dividend Index) returned -6.59%.
NB: Asset-Weighted Benchmark calculated as index or benchmark return weighted to portfolio allocation, without style bias. Vanguard's asset-weighted benchmark (ASX300) is 0.88%, while nominated benchmark (ASFA High Dividend Index) returned -6.59%.