22/06/2022 09:25

Flagship Growth Portfolio

The MM Flagship Growth Portfolio slipped -2.65% last week inline with the market while our cash position remains at 1%. Newcrest Mining (NCM) managed to rally +2.3% along with Bank of Queensland (BOQ) +1.4% and TPG Telecom (TPG) +1%, the losers corner was a little more crowded following the markets decline with HUB24 (HUB) -11%, Xero (XRO) -7.8% and BHP Group (BHP) -7.4% catching our attention for the wrong reasons.

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15/06/2022 09:29

Active Income Portfolio

The portfolio was down -4.14% for the week with cash at 1%.  The banks weighed with Bank of QLD (BOQ) down -11.26%, Commonwealth Bank (CBA) off -10.55% while G8 Education (GEM) also fell -9.57%. It was slim pickings on the other side of the ledger with only APA Group (APA) +2.68%, Woodside (WDS) +0.30% and the Crown Hybrid (CWNHB) +0.20% printing positive returns. Hybrids fell during the week as the market...

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15/06/2022 09:26

Flagship Growth Portfolio

The MM Flagship Growth Portfolio slipped -4.4% last week versus a market that fell -5.8%, while our cash position remains at 1%. The positive relative performance last week was aided by ResMed (RMD) +2.7%, Xero (XRO) +2.1% and Aristocrat (ALL) +2.1% while on the other side of the ledger we saw Bank of Queensland (BOQ) -11.3%, Commonwealth Bank (CBA) -10.6% and Qantas (QAN) -9.2% all weigh.

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01/06/2022 09:50

Active Income Portfolio

The portfolio slipped -0.26% for the week while cash sits at 1%. We saw a rotation out of more defensive stocks into ‘growthier’ names with APA Group (APA) down -1.81% while the banks fell, CBA lost -0.69% while Bank of QLD (BOQ) dropped -0.79%. On the flipside, strength in Magellan (MFG) +6.67% was a positive as was Service Stream (SSM) +5.03% & Insignia (IFL) +3.43% while some slight weakness in the Hybrid space was also...

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04/05/2022 09:30

Flagship Growth Portfolio

The MM Flagship Growth Portfolio slipped -1.1% last week while our cash position sits at 2%. The index itself closed marginally lower with our performance helped by Bank of Queensland (BOQ) +6.5%, Qantas (QAN) +4.7% and BHP Group (BHP) +4.4% but meaningful dips in ResMed (RMD) -9.5% and Goodman Group (GMG) -6.8% led to the slight underperformance.

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20/04/2022 09:28

Active Income Portfolio

The portfolio added +0.48% for the week while cash sits at 3%.  AGL Energy (AGL) continues to perform adding a further +4.64% supported by Metcash (MTS) which added +3.03%. The biggest drag was Bank of QLD (BOQ) down -5.92% while G8 Education (GEM) fell by -1.84%. We made a number of changes to the portfolio during the week taking profits on National Storage REIT (NSR)

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20/04/2022 09:25

Bank of QLD (BOQ) $7.94

Bank of QLD (BOQ) had a disappointing week falling 5.92% following its results, the stock was down on concerns around poor customer satisfaction due to a subpar digital experience. As a customer of BOQ, I can understand this, however, the reason I (and presumably others) use BOQ is the personal relationship with the owner-manager of the local branch, over and above the digital experience. Having said that, during...

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20/04/2022 09:23

Flagship Growth Portfolio

The MM Growth Portfolio edged up by +0.12% for the week with cash dropping to 5% following the purchase of TPG Telecom (TPG). Bank of QLD (BOQ) was the weakest link down ~6% while Qantas (QAN) keyed off a positive update from American Airlines to rally +7.16%.

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06/04/2022 09:42

Active Income Portfolio

The portfolio added 0.37% for the week while cash remains at ~5%.  Magellan (MFG) had a rare period of strength adding 9.59%, the fund manager trading ex-option issuance today, while AGL Energy (AGL) rallied +7.99% to $8.24, taking it back to the price of the Brookfield–Cannon Brookes offer – we are now considering selling the position. On the flipside, Service Stream (SSM) fell -7.48% and Bank of QLD (BOQ) lost -3.49% following their 1H22 results.

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16/03/2022 09:26

Active Income Portfolio

The Income Portfolio added +1.50% for the week while cash sits at ~5%. The financials were best on ground with Insignia Financial (IFL) adding +8.74%, Commonwealth Bank (CBA) +8.57% & Bank of QLD (BOQ) +7.81%, while our largest portfolio holding in BHP fell by -6.51%. Despite Magellan (MFG) coming out with poor FUM flows, the stock ‘only’ fell -2.53%, implying to MM that a low is near.

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