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Flagship Growth Portfolio – Amendments

We are adding to our existing holding in Independence Group (IGO) into weakness this morning.

IGO
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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Independence Group (IGO)

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.

NCM
MM are trimming NCM by 2% in the Flagship Growth Portfolio, booking a loss around $22, leaving a 5% weighting
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Newcrest Mining (NCM)
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