Risks remain within the Australian automotive sector and we are selling Bapcor ahead of their results next week. We cover the rationale here.
MM are selling BAP in the Emerging Companies Portfolio, taking a loss around $4.70
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We are switching from Bapcor (BAP) to ARB Corp (ARB) after the latter reported yesterday. Accelerating growth in their international operation relative to their Australian business is more appealing. We cover the rationale here.
MM are buying ARB in the Emerging Companies Portfolio, allocating 4% around $39.88
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We are trimming Vault Minerals (VAU) given Gold is approaching our target level, moving to a 4% target weighting down from 6%.
MM are trimming VAU in the Emerging Companies Portfolio, targeting a 4% portfolio weight around $0.40
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