Staude Capital Global Value Fund Reports NTA of $1.2585 Before Tax as at 31 October 2026

Shwetambri Chauhan

13 November 2026 01:34 PM AEDT

Staude Capital Global Value Fund Reports NTA of $1.2585 Before Tax as at 31 October 2026

Image Source: Krish Capital Pty Ltd

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Staude Capital Global Value Fund Limited (ASX:GVF) has disclosed its net tangible assets (NTA) per share as at 31 October 2026, reporting NTA before tax of $1.2585 and NTA after tax of $1.2373, alongside a monthly investment update covering portfolio performance and market conditions during October.

Key Points

NTA before tax was $1.2585 per share and NTA after tax was $1.2373 per share as at 31 October 2026
The company expects to make a tax payment of 3.4 cents per share in December as part of its FY26 tax return
The discount capture strategy generated gross returns of -1.4% during October, with losses driven by share price falls in VH Global Energy Infrastructure (ENRG) and Schroder British Opportunities Trust (SBO)
GVF has 203 million shares on issue, a share price of $1.26, and a market capitalisation of $255 million
Annual fully franked dividend guidance stands at 9.4 cents per share, with a grossed-up yield of 7.5%

October NTA and Tax Payment Disclosure

According to the filing, GVF's NTA before tax stood at $1.2585 per share and NTA after tax at $1.2373 per share as at 31 October 2026. The company disclosed that no substantive tax payments were made during the month. GVF stated it expects to make a tax payment of 3.4 cents per share in December as part of its FY26 tax return. The company's profits reserve stands at 28 cents per share and franking per share is 17 cents. Total dividends declared since listing amount to $1.01 per share, with annual fully franked dividend guidance of 9.4 cents per share and a grossed-up yield of 7.5%.

VH Global Energy Infrastructure and Brazilian Market Volatility

The filing states that a material portion of the losses in October were attributable to a large share price fall in VH Global Energy Infrastructure (ENRG), a London-listed investment trust in formal managed wind-down. Approximately 37% of ENRG's infrastructure portfolio is located in Brazil, including a hydroelectric plant and solar assets. The filing states that Brazilian financial markets were significantly affected by the surprise re-election of Lula da Silva to the Presidency, with the Brazilian share market falling 14% on the first trading day following the election results. GVF disclosed it added to its holding in ENRG following the sell-off.

Schroder British Opportunities Trust Share Price Decline

The filing attributes the other key contributor to October's portfolio losses to Schroder British Opportunities Trust (SBO). According to the filing, SBO's share price decline over the month reflected a widening of the discount to asset backing, with no corresponding impairment to the underlying assets in the portfolio. The filing notes that SBO's shares are very thinly traded, meaning relatively small amounts of trading can cause sizeable month-to-month price movements. No further details regarding SBO's position or any changes to GVF's holding in SBO were disclosed in the filing as provided.

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