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 MM International Equities Portfolio fell -7.2% during the week with cash remaining at 8%. Trade Desk (TTD US) was whacked -26% and JD.com -15.6% while Brunswick (BC US) advancing just +0.5% was, unfortunately, the only green across our portfolio. While this portfolio is filled with high-quality companies, a number of these have fallen substantially this year dragging performance with them. In hindsight (a wonderful thing) we maintained too much of a ‘growth’ focus believing that quality would prevail. Quality hasn’t so far this year and the growth focus of this portfolio would benefit from a greater level of balance. We are now looking to migrate part of the portfolio away from US mega tech and into some defensives.
Potential sells: Amazon.com (AMZN US), Alphabet (GOOG US), Microsoft (MSFT US) and PayPal (PYPL US)
Potential buys: adding to JD.com, UK supermarket Tesco Plc (TSCO LN) and real estate investment trust Crown Castile (CCI US)
