We’ve enjoyed strong gains from RIO in the income portfolio with the position up more than 40%. Our expectation in the short term is that commodities will stall given the crowded nature of the reflation trade, and Iron Ore above $US 200/tonne is not sustainable. For that reason we are considering taking our profits on RIO, retaining BHP, and recycling the capital into other existing positions already within the portfolio.
We plan to take profits on RIO
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