Moving from Google into marine company Brunswick Corp is a clear shift down the risk curve. This $US7.5bn business makes Mercury Outboards, Sterndrives and other marine related equipment and is more aligned with our ‘value’ mindset trading on an Est P/E of 15x. We had originally flagged BC as a buy nearer $US90 however given our high cash levels in this portfolio we are stepping up and adding this to the portfolio.
MM is buying BC US in the International Equities Portfolio with a 5% weighting around $US97.00
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