We’re initiating a position in Nickel/Lithium company Independence Group (IGO) into recent weakness. We are starting with a 3% weighting and may increase over time.
MM are buying IGO in the Flagship Growth Portfolio, allocating 3% around $8.90
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We are adding to our existing position in Santos (STO) as the stock has pulled back below $6.00. We flagged this intent in the original buy alert.
MM are adding to STO in the Flagship growth Portfolio, allocating a further 2% around $6.00
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We are exiting Lend Lease (LLC) to free up cash. Recent results from LLC imply no real recovery until FY23 and while the stock is cheap, we don’t see a near term catalyst. Funds are better deployed elsewhere in the near term. We will likely re-visit LLC at a later date.
MM are selling LLC in the Flagship Growth Portfolio around $11.80, which is about breakeven
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