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Portfolio Moves

We made a number of tweaks across the MM portfolios yesterday in a larger than usual alert. In the Flagship Growth Portfolio we increased our exposure to technology via Bravura Solutions (BVS), a stock we’ve owed in the past and see very good risk /reward at current levels. They provide technology solutions to the wealth management sector which is undergoing significant change in many aspects, with a lot of that change requiring increased use of technology to better serve clients and meets regulatory standards.

We also tweaked our banking exposure, trimming both Commonwealth Bank (CBA) and National Bank (NAB) as we look to buy Bank of QLD (BOW) into some slight weakness below $8.50.  We also increased our weighting in online accounting business Xero (XRO) to better reflect our conviction towards that position.

BVS
MM is bullish BVS
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Bravura Solutions (BVS)
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