Portfolio review
The Northward Equity Income Fund (NEIF) gained 2.27% for the month of July against the S&P/ASX 100 Accumulation Index gain of 4.55%. Option income was strong for the month and mainly captured from BHP Billiton, Origin Energy, CSR Limited, Telstra Corporation, and ANZ Bank. The fund’s average market exposure during July was 51% of the market exposure of the S&P/ASX100 Accumulation Index.
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