Q3 2021 Cadence Capital Ltd Earnings Call Transcript
Ladies and gentlemen, welcome to the Cadence Capital Limited March quarterly update. This following slide's obviously familiar to everyone who gets the newsletter. You can see for the year-to-date, we've done about 34% against the market that's done 20%, so outperforming market by 14%. You will also have seen from the weekly updates that you're getting for our NTA that April is also a very, very good month for us. So those numbers are quite a bit higher than at the end of March.
The year-to-date returns have been driven across a number of different investments from varying sectors, market capitalizations and geographies so that the returns are becoming much more diversified within the fund. On average, we've been holding 20% to 25% cash, which is fairly traditional for the business.
Our biggest contributors for the period, from a positive perspective, were Bed Bath & Beyond, Lynas Corporation, Uniti Group, Cettire and Sonos and Chalice Gold Mines Goldmines. The biggest detractors
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