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 was down -1.48% for the week with cash at 1%. Woodside (WDS) rallied however it’s only a small position in the portfolio as a bi-product of our BHP position which also gained. Magellan (MFG) was the weakest link down -16.33% following a FUM update while Stockland (SGP) -6.25% also fell. Real-Estate stocks have been in the naughty corner on the expectation of rate rises, our interpretation that a lot of pain had already been priced into the sector seems wrong at this stage. The suite of Centuria securities is a case in point, with the headstock CNI down from $3.60 to close yesterday at $2.10 while their industrial property REIT, CIP has fallen from $4.20 to $3.28. For those holding unlisted property trusts, valuation contraction may not have been felt yet, but it is coming.
