12 January 2017 Australian Governance Masters Index Fund
12 January 2017 Australian Governance Masters Index Fund Limited ASX: AQF NTA & Investment Update – 31 December 2016 At 31 December 2016, Australian Governance Masters Index Fund Limited (Company) was invested in 75 companies. The total investment value of the portfolio was $51,224,171. The unaudited, estimated pre-tax net tangible asset (NTA) value of the Company was $1.93 per Share. The Company is a long-term equity investor and does not intend to dispose of its total portfolio. If estimated tax at 30% on gains were to be recognised, the NTA value after tax would be $1.81 per Share. At 31 December 2016, the 75 shareholdings of the Company, at market value, were: COMPANY MARKET VALUE ($) WEIGHT (%) COMMONWEALTH BANK OF AUSTRALIA 5,680,192 11.09% WESTPAC BANKING CORPORATION 4,363,608 8.52% AUST AND NZ BANKING GROUP 3,560,570 6.95% NATIONAL AUSTRALIA BANK LTD 3,258,780 6.36% BHP BILLITON LTD 3,217,579 6.28% TELSTRA CORPORATION LTD 2,494,573 4.87% WESFARMERS LTD 1,899,292 3.71% CSL LTD 1,833,788 3.58% WOOLWORTHS LTD 1,242,066 2.42% MACQUARIE GROUP LTD 1,186,052 2.32% RIO TINTO LTD 1,016,563 1.98% SCENTRE GROUP 988,404 1.93% WOODSIDE PETROLEUM LTD 903,204 1.76% TRANSURBAN GROUP 840,450 1.64% BRAMBLES LTD 783,296 1.53% SUNCORP GROUP LTD 695,942 1.36% AMCOR LIMITED 692,723 1.35% QBE INSURANCE GROUP LTD 678,256 1.32% NEWCREST MINING LTD 618,435 1.21% AMP LTD 596,408 1.16% AGL ENERGY LTD 594,994 1.16% SOUTH32 LTD 585,464 1.14% INSURANCE AUSTRALIA GROUP LTD 582,683 1.14% SYDNEY AIRPORT 535,997 1.05% ORIGIN ENERGY LTD 459,732 0.90% STOCKLAND 435,654
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