BWP Trust (BWP) reported solid 1H numbers last week and rallied as a consequence. While this is a solid, low risk, property trust, we are targeting a higher return in the Emerging Companies Portfolio, switching into a stock with higher growth potential. We will continue to cover BWP on the site.
MM are selling BWP in the Emerging Companies Portfolio, taking a small loss around $3.45
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HMC Capital (HMC) has pulled back and now presents solid risk/reward around $9.50. We are switching funds from the lower growth, lower risk BWP into higher growth, higher risk HMC.
MM are buying HMC in the Emerging Companies Portfolio, allocating 5% around $9.50
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Within travel, Helloworld (HLO) is a lower growth bricks and mortar aggregation of travel agencies. Siteminder (SDR) is a higher growth technology platform within travel. We are exiting HLO for around break even based on a relative call, switching into higher growth SDR.
MM are selling HLO in the Emerging Companies Portfolio, taking a small loss around $2.02
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Siteminder (SDR) underpins hotel bookings, yield optimisation and management. We are switching from a lower growth exposure in travel, (HLO) towards a higher growth option in travel (SDR).
MM are buying SDR in the Emerging Companies Portfolio, allocating 4% around $6.40
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We are finally liquidating Calix (CXL) from the Emerging Companies portfolio – way too late. We will continue to cover the stock on the website as/when any updates occur, however given the significant drop in the share price, the actual weighting in the portfolio is very low, and has very limited impact on returns. We need to move on from a portfolio sense.
MM are selling CXL in the Emerging Companies Portfolio, taking a loss around $0.53
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