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 had a softer week in absolute terms however it did do better than the market overall. Cash sits at 9% as we consider what comes next for global equities. Our most recent purchase of Snowflake (SNOW US) did well up +21.08% for the week as their growth outlook impressed while Alibaba Group (BABA US) +4.81% enjoyed the better rhetoric around Chinese stocks. The UK continues to grapple with many issues, inflation being a key one that has weighed on our Tesco (TSCO LN) holding which fell by -6.19%.
Portfolio amendments on the MM radar:
- Selling Tesco (TSCO LN) for around breakeven and re-allocating funds into a similar US focussed retailer.
- Reducing /selling our 7% position in Barrick Gold (GOLD US), taking a 25% loss.
