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Investors unmoved by Cadence Capital Limited’s (ASX:CDM) stellar results

International equities manager Cadence Capital Limited (ASX: CDM) shares are stalled at $1.30 at the time of writing after the company posted a record FY18 profit after tax of $41.2 million – up 12% on FY17.

The results revealed Cadence outperformed the All Ordinaries Accumulation Index by 4.5% while holding around 20% cash with fund gross performance of 18.2%.

Cadence chair Karl Siegling named the top contributors to the fund’s stellar performance as: Noni B Limited (ASX: NBL), ARQ Group Ltd (ASX: ARQ), Macquarie Group Ltd (ASX: MQG), Emeco Holdings Limited (ASX: EHL), Shine Corporate Ltd (ASX: SHJ), Independence Group NL (ASX: IGO) and Facebook.

Cadence will launch the Cadence Opportunities Fund in coming months, with the IPO looking to raise $250 million with priority allocation for existing Cadence Capital shareholders.

Cadence shareholders will be paid a 4c per share fully-franked dividend in September.

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Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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