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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 portfolio added 1.40% for the week while cash remains at ~5%.  The largest position in the portfolio is BHP with an ~8% weighting and it was also the best performer for the week up another 8.98%, trading back up above $50. Supporting BHP was Service Stream (SSM) +5.94% that we discussed last week and APA Group (APA) +5.27% having broken out through $10, certainly, a strong move from an infrastructure stock and it could well be seeing some of the funds that were received from holders of Sydney Airports. Only 2 stocks fell during the week, Transurban (TCL) by -0.91% and Magellan (MFG) -0.33% although the daily volatility remained high in the latter.

As foreshadowed above, bonds have been sold off pushing yields higher.  sometimes it’s the things you don’t own that drives performance in a portfolio. Making a conscious decision in this portfolio to avoid duration risk by not holding unhedged fixed-rate bonds, and staying in floating-rate securities has been a real positive in recent months.

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