The following graph shows how a notional $100,000 invested at the Fund's Inception (10 April 1998) has increased to $583,600 (net of fees excluding performance fees) as at 31 December 2011. After performance fees, the amount would be approximately $515,500. This compares very favourably with the return of the market, where a $100,000 investment would have increased to $251,400 over the same period. The returns exclude the benefits of imputation credits.
Tables 1 and 2 show the PVGF performance relative to the S&P/ASX 300 Accumulation Index for the period to 31 December 2011. Table 1 shows the performance on an annual basis and Table 2 shows the cumulative return.
3.2%
-8.1%
7.7%
1.1%
6.7%
13.7%
2.1%
-11.0%
7.7%
-2.4%
4.4%
6.9%
1.1%
2.9%
0.0%
3.5%
2.3%
6.8%
-8.1%
24.8%
5.5%
57.7%
483.6%
-11.0%
24.8%
-11.4%
35.1%
151.4%
2.9%
0.0%
16.9%
22.6%
332.2%
Chart 1 shows holdings by sectors and Chart 2 shows holdings by market capitalisation as at
31 December 2011.
![Holdings by Sector [Pie Chart]](images/pvgf_pie_sector_dec11.gif)
![Holdings by Market Capitalisation [Pie Chart]](images/pvgf_pie_market_dec11.gif)