Cadence Opportunities Fund Ltd. (AU:CDO) has released an update.
Cadence Opportunities Fund Ltd. reported a modest gross performance gain of +0.1% in July, trailing behind the All Ordinaries Accumulation Index’s +3.8% increase. Top performance boosts came from companies like Resolute Mining, which saw a 25% share price hike, attributed to both a rise in gold prices and strong operational results. Conversely, declining aluminium and copper prices, along with increased cash levels, contributed to the fund’s underperformance, even as the company implements a buy-back scheme to address the shares trading at a discount.
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