We are trimming our position in BHP by ~2%, taking it to a 7.5% target weighting, to partially fund a new position in Sandfire Resources (SFR) which we are buying into extreme weakness this morning. We have a preference for Copper in the medium term and now have an opportunity to mildly increase that exposure.
MM are trimming BHP in the Active Growth Portfolio, reducing to 7.5% to partially fund a buy in SFR, taking profit around $35.00
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We are buying back into Sandfire Resources (SFR) into extreme weakness, partially funding by a reduction in BHP. This is a mild increase in Copper exposure, and a mild increase in risk into weakness.
MM are buying SFR in the Active Growth Portfolio, allocating 4% around $8.00
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