Ann: Change in Portfolio Value, page-16

The woeful monthly performance numbers will come shortly... but ahead of that thought holders would be interested in Detective Hrvoje's estimate of performance based on the Watermark Trust unit price..... can be found at the MorningStar Web site https://www.morningstar.com.au/Fund/FundReportPrint/40937

The Watermark Trust exit price at the end of December is 1.25 vs the last reported unit price at end of November of 1.2702 here http://wfunds.com.au/fund/watermark-market-neutral-trust/

So this MARKET NEUTRAL fund is down another 1.6% in December, remember Watermark's other funds are also market neutral currently...... in fact their investments may be exactly the same now that the funds are only Australian shares.

these clowns can fluff about with the fund structures and changing mandates back to Australian shares etc but the only thing that matters for holders is performance...... and clearly these guys have no idea what they are doing, may I suggest alternative careers selling snake oil because thats all they're good for!!