Staude Capital Global Value Fund (GVF) AGM 2026 summary

Opening remarks and agenda

• Formal business covered Miles Staude’s re-election and a special resolution for 10% additional share-issuance capacity, followed by a presentation and stakeholder Q&A; agenda included portfolio updates, bond-market themes, a case study and investing happiness.

Financial performance review

• Since-IPO annualised return was 11% after fees and expenses, with 7% volatility as of 31 Aug 2026, against an IPO aim of 8%-10% p.a.; Sharpe ratio was 1.17.

• A $10,000 initial investment was valued at $32,925 with returns reinvested; taking returns produced $13,600 in current value plus $10,026 in dividends, as of 31 Aug 2026.

• Grossed-up dividends since IPO totalled 101.09 cents per share, with 3.9 cents in option VWAP value, through 31 Aug 2026.

• Fund size was ~AUD 280m, with a stated preference not to grow materially beyond AUD 350m.

Board and executive committee updates

• Miles Staude sought re-election, noting 12 years of service and willingness to continue; the chair put the resolution to a vote.