We are adding to our existing holding in Independence Group (IGO) into weakness this morning.
MM are adding to IGO in the Flagship Growth Portfolio, allocating a further 2% around $8.50, bringing the holding up to 5%
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While we think Newcrest (NCM) is an undervalued, high quality Gold company, our weighting is too large for the current trajectory of the stock. We are trimming the position to allocate funds elsewhere.
MM are trimming NCM by 2% in the Flagship Growth Portfolio, booking a loss around $22, leaving a 5% weighting
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