SRG Global (SRG) has pushed up to new all-time highs with our position now up over 100%. Valuation is now stretched for this type of business, and we’re taking profit.
MM are selling SRG in the Emerging Companies Portfolio, taking a profit around $1.53
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Taking a large profit in SRG is being matched by realising a loss with CRN pre-June 30. The position is now sub 1% of the portfolio and does not have a big bearing on returns. We are not comfortable adding to the position, using it as an offset to SRG.
MM are selling CRN in the Emerging Companies Portfolio, taking a loss around 14.5c
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