We are selling our 4% holding in Transurban (TCL) to allocate funds elsewhere. While TCL’s last result was a strong one, it’s spread over 10-year Government Bond Yields is now at historical lows, rendering it too expensive for the risk involved with a transition of the CEO.
MM are selling TCL in the Active Income Portfolio, taking profit around $14.65
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We are increasing our current weighting to NAB, taking it from a 4% weighting to a 7% weighting into the recent pullback, ahead of their upcoming May dividend.
MM are adding to NAB in the Active Income Portfolio, allocating a further 3% around $28.00
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We are increasing our holding in Perpetual (PPT) by 1.25% targeting a 4% portfolio weighting. This position was acquired through the takeover of Pendal (PDL) whereby we received a portion of PPT stock + a portion of cash. We are now re-establishing the full equity position.
MM are adding to PPT in the Active Income Portfolio, allocating a further 1.25% around $22.80
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