We are adding Fineos to the portfolio in line with recent reports. The company has proven its ability to win new deals and convert customers to their cloud offering which will lead to higher margins.
MM is buying FCL in the Emerging Companies Portfolio, allocating 4% around $2.33
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We are buying PEXA Group (PXA) ahead of their FY report later this month. We expect performance to improve in the second half with higher turnover of refinance deals in the mortgage market to benefit the company while cash rates at or near a peak pre-empt a increase in volumes in the home sales market which should provide a tailwind.
MM is buying PXA in the Emerging Companies Portfolio, allocating 3% around $13.40
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