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International Equities Portfolio

The Market Matters International Equities Portfolio is a high conviction direct international equities portfolio that targets well known global brands – Click here to view

The International Equities Portfolio was lower over the course of the week, down by -0.70% while cash remains at ~3%. BHP and Apple led the line while Alibaba (BABA US) and PayPal (PYPL US) weighed noticeably on our portfolio.

We still only holding 4% free cash hence by definition any future buying into Christmas requires all / part funding, recently we’ve been looking for an ideal trigger to purchase UK based diversified miner Glencore (GLEN LN) and we feel the markets current migration away from tech to the resource names provided the ideal back drop, we still believe tech can rally into Christmas but we are looking to rebalance slightly while taking profit from a high flying tech name:

  • MM is looking to buy GLEN around GBP375.
  • Cloud based Shopify (SHOP US) helps merchants showcase their brand, its soared through 2020/21 but the last few weeks has seen it struggle around new highs, valuation concerns us here and we feel its time to take our money.
MM is looking to switch from SHOP to GLEN
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Glencore Plc (GLEN LN)
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