Staude Capital Global Value Fund (GVF) investor relations material

Performance overview

• Achieved annualised returns over 10% with annualised volatility at 7%, after all fees and taxes as of March 2026.

• $10,000 invested at inception grew to $31,459 if all returns were reinvested, $22,455 with half reinvested, and $13,450 if all returns were taken as income.

• Outperformed Australian, US, and global shares on a risk-adjusted basis, with a Sharpe ratio of 1.12 and Sortino ratio of 2.22.

• Delivered 11+ years of positive performance, with a compound annual growth rate (CAGR) of 11.4% since IPO.

• Distributed grossed-up dividends of 87c per share since IPO, plus 3.9c in option value.

Investment strategy and portfolio

• Focuses on capturing discounts and diversification across asset classes and currencies.

• Portfolio allocation as of March 2026: 39% listed equity, 19% listed private equity, 13% listed infrastructure, 13% real estate, 6% debt, 6% aircraft leasing, and 4% other.

• Currency exposures: 42% USD, 23% AUD, 21% EUR, 14% other.

• Outperformance attributed to discount capture and active management.

Risk management and investing principles

• Emphasizes risk management over return, advocating for position sizing based on percentage of wealth and never over-betting.

• Demonstrates through betting strategies that risk management has a greater impact on long-term wealth than return maximization.

• Encourages investors to consider their personal happiness curve when making investment decisions.