We are buying APA group (APA) into recent weakness. We are starting with a 4% weighting with the understanding that there is a high chance APA Group will need to raise further capital.
We are trimming 3 holdings to fund the majority of the purchase – simply taking 1% out of each of Commonwealth Bank (CBA), IOOF (IFL) & National Bank (NAB) leaving 6% in both CBA & NAB and 5% in IFL.