The Market Matters International Equities Portfolio is a high conviction direct international equities portfolio that targets well known global brands – Click here to view
A tough week for the International Equities portfolio falling by 5.51% which was broadly in line with weakness across international markets. Australian equities have outperformed global peers in recent weeks given our skew towards energy & resources versus the US skew towards technology. The Trade desk (TTD US) was the weakest link down by 24.13% while Exxon Mobil (XOM US) advanced by 10.74%.
Our current thinking towards the MM International Portfolio as would be expected is very aligned to thoughts across local sectors i.e. we are looking to migrate away from resources into current strength:
- Sell – our copper exposure through Freeport-McMoRan (FCX US).
- Buy – we are considering UK supermarket Tesco (TSCO LN) and US healthcare high flier HCA Healthcare (HCA US).
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