The IBC portfolio recorded a good return of 5.66% over the half year, outperforming its benchmark return of 5.22% (1 year swap rate +6%pa). The ASX 300 Accumulation Index gained 7.45% over the six-month period with volatility/risk almost 3 times higher than IBC’s portfolio. Since inception, covering 21 years including several crisis periods, the portfolio achieved a return of 9.1%pa with 52% of equity market risk measured in terms of volatility.

Read the Investment Report as at 31 December 2023