Staude Capital Global Value Fund (GVF) H2 2026 earnings summary

Executive summary

• Operating profit before tax reached $17.5M and after tax $12.8M for FY2026.

• Adjusted pre-tax NTA increased by 7% year-over-year, net of all fees and expenses.

• Shareholder total returns, including dividends and franking credits, were 4.4% for the period.

• Shares traded at a 1.9% premium to pre-tax NTA at year-end.

Financial highlights

• Discount capture strategy generated a 7.7% gross return over the year.

• Fully franked final dividend of 3.3 cents per share declared for FY2026.

• Since IPO, total grossed up dividends declared are approximately $1.01 per share.

Outlook and guidance

• Board anticipates both interim and final dividends for FY2027 will be 3.3 cents per share, fully franked.

• Dividend payments for FY2027 remain subject to profit reserves and prudent business practices.

• Portfolio remains underweight in AI stocks, focusing on diversified global assets at discounts.