When we bought IFL in the Income Portfolio towards the end of 2020 the news flow was horrible, much like the backdrop was for the banks during their darker days, however as the negative rhetoric around financial planning has eased the stock has rallied. Despite the rally, it remains an inexpensive stock with better times ahead in MM’s view, and is paying a ~6% fully franked yield while we wait. We added to our existing position yesterday
MM remains bullish IFL
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