We are tweaking our exposure to banks in the Income Portfolio, trimming CBA back to a 5% portfolio weighting. While we have a 6% target weighting shown in the portfolio, capital gains have been solid, and this alert serves as a reminder around being active in managing weights as stocks move.
MM are trimming CBA in the Active Income Portfolio, taking part profit around $161.00
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We are using weakness in ANZ to initiate a position in the Income Portfolio. We’re underweight bank equity (though we hold Hybrids) and view the relative value on offer in ANZ as appealing, following a ~10% pullback in the stock.
MM are buying ANZ in the Active Income Portfolio, allocating 5% around $29.42
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