Endeavor Monthly Newsletter – November 2024

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Dear Clients,

November was a rewarding month. Our core investments performed well, and several oversold positions rebounded. The Balanced, Growth, and High Conviction portfolios returned 5.3%, 6.4%, and 7.7%, outperforming the ASX All Ordinaries Accumulation Index which increased 3.7%.

The rolling annual returns are 26.6%, 29.5%, and 33.2% for the Balanced, Growth, and High Conviction portfolios, compared to the ASX’s 23.5%. The Enhanced Yield Portfolio has delivered a respectable 7.9% for the past twelve months, above the RBA Cash 4.4% return.

Growth and Balanced Performance:

The Growth and Balanced Portfolios have delivered steady returns over the years. Over the past fourteen years, the portfolios have returned 381% and 321%, respectively, compared to the All Ordinaries Accumulation Index’s 234%. These results highlight the effectiveness of our long term process.

High Conviction Turnaround:

We would like to highlight the improvement in the High Conviction Portfolio over the past year under the management of Portfolio Manager Hayden Beamish and Analysts Dan Gafforini and Joe Carlton. Since they took over last November, the portfolio has increased by 33.2%, outperforming the All Ordinaries 23.5% and the Small Ordinaries 19.9%. This positive turnaround reflects the team’s hard work. We believe the portfolio is well positioned for the future.

Fourteen Year Anniversary:

As we mark fourteen years at Endeavor Asset Management, we want to thank clients for their ongoing support. The Balanced, Growth, and High Conviction Portfolios have delivered cumulative returns of 321%, 354%, and 381%, respectively. These results reflect the strength of our investment approach, well above the ASX’s 234%.

Those who have stayed invested through the various market cycles have seen substantial growth in Growth and Balanced, and a significant rebound in High Conviction. We are confident the patient investor will continue to be rewarded in the future.

November Newsletters:

The Growth Equities portfolio returned 6.4% in November. Click here to read the Growth Equities Newsletter​.

The Balanced Equities portfolio returned 5.3% in November. Click here to read the Balanced Equities Newsletter.
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The High Conviction portfolio returned 7.7% in November. Click here to read the High Conviction Newsletter.
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The Enhanced Yield portfolio returned 0.26% in November. Click here to read the Enhanced Yield Newsletter.

Outlook:

The discipline of holding high quality investments through market cycles continues to reward investors. We recognise that markets can be unpredictable, but we remain committed to navigating challenges and we’re confident in the outlook for all our portfolios.

Since this will be our last newsletter until early January, we wish you all a healthy and relaxing Christmas break. Please contact us at any time if you would like to discuss your portfolio in more detail.

Regards

The Endeavor Team

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*Note: Performance of the strategy group is representative of individual client portfolios, although performance can differ due to inherent differences between clients portfolios such as initial entry timing, legacy holdings or requested stock exclusions. Performance measured is after fees, taxes and franking credits. Monthly performance figures include an accrual for fees charged quarterly.

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You are receiving this email because you are a client of Endeavor or have expressed interest in our portfolios.

*Note: Performance of the strategy group is representative of individual client portfolios, although performance can differ due to inherent differences between clients portfolios such as initial entry timing, legacy holdings or requested stock exclusions. Performance measured is after fees, taxes and franking credits. Monthly performance figures include an accrual for fees charged quarterly. 

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