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Active Income Portfolio

The Market Matters Active Income Portfolio provides an active approach to income producing equities, ETFs and listed Income Securities – Click here to view

The Income Portfolio fell -2.15% over the course of the week while cash sits at ~4%. Commodities had a tough period and our positions here were the biggest drag on the portfolio, BHP down -9.54% & our most recent purchase of Alumina (AWC) fell by 6%. Ive Group (IGL), the integrated marketing and printing business pulled back 7%.

Our current thinking on this portfolio:

  • We flagged APA Group (APA) as a buy yesterday morning for this portfolio however following that they joined the takeover tussle for AusNet Services (AST) saying they would need to raise $1.5b in new equity if they were successful. This casts a shadow over the stock in the near term. We will remain onlookers for now as this develops, however we are keen to increase infrastructure exposure in this portfolio.
  • Transurban (TCL) are in a trading halt finalizing a $3.97bn capital raise to buy the remain piece of WestConnex they don’t already own. We will be offered stocks in the rights issue on a 1 for 9 basis at $13 and will take up those rights in this portfolio

We are contemplating reducing our weighting in wealth manager IOOF (IFL) from 6% to 4%, preferably into strength simply from a risk perspective

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IOOF Holdings (IFL)
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