We are adding the Suncorp Hybrid (SUNPI) to the Income Portfolio. It has a running yield of ~7%, with ~31c of accrued income in the price, and distribution of 53c coming up on the 30th of May. We see fair value anywhere below $102 (but obviously the lower the better). Buying under this level looks relatively attractive.
MM are buying SUNPI in the Active Income Portfolio, allocating 5% around $101
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