MM has focused on our Flagship Growth Portfolio this morning but we also hold reasonable cash levels in other portfolios which may spring into action if / when we do see opportunities arise if the current retracement is ongoing. We currently hold 7% of this portfolio in cash with one stock close to being cut which would increase this to 11% i.e. Monadelphous (MND) missed earnings by ~13% in August and we feel its going to take time to alleviate the margin pressure they are currently experiencing, hence taking a small ~5% profit and moving on makes sense as / when better opportunities unfold elsewhere.
MM is considering cutting our 4% holding in Monadelphous (MND)
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