Active Income Portfolio

For those seeking a sustainable income strategy, with a difference.

About the Active Income Portfolio

Our philosophy at Market Matters has always been around active management, and our income portfolio stays true to label. Combining an active approach to income producing equities, ETFs and listed Income Securities such as Hybrids, the portfolio will satisfy those looking for sustainable income with significantly less volatility than the market.

**Portfolio Performance** UPDATED 31/03/2025 19:00
Portfolio	1M	3M	1y	3y	5y pa	ITD pa*
ACTIVE INCOME	-0.20%	-1.04%	4.65%	5.60%	12.19%	7.90%
RBA CASH RATE +4%	0.68%	2.00%	8.32%	7.26%	5.85%	5.44%
VALUE ADD	(0.88%)	(3.04%)	(3.67%)	(1.66%)	+6.34%	+2.46%

* Inception date 05/07/2017

**Portfolio Holdings** 20 MINUTES DELAYED trade now
CODE	NAME	WEIGHT (%)	RISK	TERM	BUY DATE	BUY PRICE ($)	LAST PRICE ($)	DIVIDENDS ($)	DAILY CHANGE (%)	GAIN / LOSS (%)
AGL	AGL Ltd	4	Moderate	Long	23/02/2023	7.50	10.30	0.78	0.39	47.73
ANZ	ANZ Group	5	Moderate	Medium	18/12/2024	29.36	28.04		0.43	-4.50
ANZPI	ANZ Capital Notes 6	6	Low	Long	8/07/2021	100.33	104.25	19.73	0.00	23.57
APA	APA Group	5	Moderate	Medium	26/05/2023	9.82	8.18	1.14	0.25	-5.09
BHP	BHP Group	8	Moderate	Long	11/12/2019	40.38	36.48	14.64	1.14	26.60
CBA	Commonwealth Bank	5	Moderate	Medium	13/03/2020	61.33	161.25	32.40	1.21	215.75
CBAPG	Commonwealth Bank Hybrid	5	Low	Medium	09/04/2018	100		41.26	0.00	-58.74
CNI	Centuria Capital Group	4	Moderate	Medium	29/07/2022	2.065	1.50	0.22	0.00	-16.71
DBI	Dalrymple Bay Infrastructure	4	Moderate	Medium	10/10/2024	3.37	3.95	0.14	0.25	21.36
FMG	Fortescue Metals	4	Moderate	Medium	27/06/2024	21.62	15.09	1.69	0.94	-22.39
MFG	Magellan Financial Group	4	Moderate	Medium	04/03/2025	8.17	7.42		1.09	-9.18
MTS	Metcash	5	Moderate	Medium	9/12/2020	3.5	3.19	1.00	0.95	19.71
NABPI	NAB Capital Notes 6	5	Low	Long	13/07/2022	98.94	103.88	19.31	0.28	24.51
NHC	New Hope Coal	4	High	Medium	22/11/2022	5.55	3.62	1.62	1.69	-5.59
NSR	National Storage REIT	5	Moderate	Medium	16/05/2024	2.28	2.23	0.055	1.36	0.22
PCI	Perpetual Credit Income Trust	5	Low	Long	17/07/2024	1.11	1.15	0.07	0.44	9.91
SUL	Super Retail Group	4	Moderate	Medium	07/05/2024	13.97	12.68	1.70	1.85	2.93
SUNPI	Suncorp Hybrid	5	Low	Medium	09/04/2024	101.51	102.49		0.04	0.97
TLS	Telstra Group	5	Low	Medium	9/06/2021	3.43	4.43	1.07	0.23	60.35
WBCPK	Westpac Hybrid	5	Low	Long	7/09/2022	100.40	102.79	17.12	0.04	19.43

Portfolio cash position: 3%

**Recent Sales** UPDATED 19/02/2025 16:18 trade now
Company code	STOCK NAME	ACTIVITY	RISK	TIME HORIZON	EXIT DATE	ENTRY PRICE ($)	CLOSE PRICE ($)	DIVIDENDS ($)	GAIN / LOSS (%)
SIQ	Smart Group	Sold 4% position	Moderate	Medium	19/02/2025	8.96	7.81	0.25	-10.04
CBA	Commonwealth Bank	Trimmed 1%	Moderate	Medium	18/12/2024	61.33	159.96	28.19	206.77
MFG	Magellan Financial Group	Sold 4% position	Moderate	Medium	06/12/2024	9.42	11.22	0.43	23.67
NAB	National Australia Bank	Sold 7% position	Moderate	Medium	08/05/2024	29.64	35.06	2.39	26.35
OZBD	Composite Bond ETF	Sold 5% position	Low	Long	17/07/2024	45.28	44.04	3.07	4.04
GSBG25	Govt Bond	Sold 6% position	Low	Medium	27/06/2024	100.54	99.8	5.41	4.64
DXS	Dexus	Sold 4% position	Moderate	Medium	16/05/2024	8.02	7.26	0.56	-2.49
NABPF	NAB Hybrid	Sold 5% position	Low	Long	7/05/2024	100	106.46	27.61	34.07
ORA	Orora	Sold 4% position	Moderate	Medium	3/04/2024	2.56	2.24	0.05	-10.55
MFG	Magellan Financial Group	Sold 4% position	High	Medium	08/01/2024	8.73	9.09	0.93	14.78
WES	Wesfarmers Ltd	Sold 4% position	Moderate	Long	16/11/2023	47.85	53.94	4.16	21.42
GEM	G8 Education	Sold 3% position	Moderate	Medium	22/08/2023	1.29	1.08	0.06	-11.63
PPT	Perpetual	Sold 4% position	Moderate	Medium	27/06/2023	24.7	25.4		2.83
MXT	MCP Master Income Trust	Sold 5% position	Low	Long	15/06/2023	2	1.91	0.49	20
AGL	AGL Energy	Trimmed 1%	Moderate	Medium	21/04/2023	6.95	8.59		23.6
TLS	Telstra Corp Ltd	Trimmed 2%	Moderate	Medium	21/04/2023	3.43	4.27	0.3	33.24
WES	Wesfarmers Ltd	Trimmed 2%	Moderate	Medium	21/04/2023	47.85	52.01	2.69	14.32
SGP	Stockland	Sold 4% position	Moderate	Medium	08/02/2023	4.18	4.01	0.26	0.22
PDL	Pendal Group	Sold 4% position	Moderate	Medium	12/01/2023	4.2	3.61	1.67	25.71
BHP	BHP Group	Trimmed 2%	Moderate	Long	08/12/2022	38.56	46.42	10.16	46.73
AGL	AGL Energy	Sold 3% position	Moderate	Medium	08/12/2022	6.83	8.07		18.15
APA	APA Group	Sold 4% position	Moderate	Medium	08/12/2022	9.75	11.03		13.12
SSM	Service Stream	Sold 4% position	High	Medium	22/11/2022	1.565	0.745	0.05	-49.2
BOQ	Bank of QLD	Sold 6% position	Moderate	Medium	17/08/2022	8.7	7.37	0.31	-11.72
APA	APA Group	Sold 4% position	Low	Medium	10/08/2022	8.59	12.14	0.53	47.5
CWNHB	Crown Resorts Hybrid	Sold 4% position	Moderate	Medium	29/07/2022	98.26	102.75	3.02	7.64
IFL	Inisgnia Financial	Sold 5% position	Moderate	Medium	13/07/2022	3.59	2.73	0.4	-12.81
MFG	Magellan Financial Group	Sold 3% position	Moderate	Medium	13/07/2022	33.85	12.15	1.57	-59.47
SIQ	Smart Group	Sold 5% position	Moderate	Medium	13/07/2022	6.98	6.62	1.43	15.19
WDS	Woodside	Sold 1% position	High	Medium	15/06/2022	29.76	32.54	2.3	17.05
IGL	IVE Group Ltd	Sold 3% position	Moderate	Medium	11/05/2022	2.28	1.8	0.66	7.89
AGL	AGL Energy	Sold 3% position	Moderate	Long	03/05/2022	5.35	8.38	0.16	59.63
NSR	National Storage REIT	Sold 4% position	Moderate	Medium	13/04/2022	2.04	2.65	0.09	34.31
XARO	ActiveX Ardea Real Outcome Bon	Sold 5% position	Low	Long	13/04/2022	26.47	25.28	1.6	1.55
AWC	Alumina Ltd	Sold 4% position	Moderate	Medium	24/02/2022	2.2	1.95		-11.36
DXS	Dexus	Sold 4% position	Low	Long	25/11/2021	9.2	11.27	0.23	25

OPINION
ACTION

Recent Opinion for the Income Portfolio

17/04/2025 16:39

BHP Group (BHP) $36.48

BHP +1.14%: Released strong 3rd quarter production numbers highlighting the miner is on track to meet or beat full-year targets with iron ore and copper particularly impressive.

16/04/2025 09:44

Telstra Group Ltd (TLS) $4.43

This month, TLS hit our initial $4.40 target area, raising questions about whether it was time to sell. The Telco giant is forecast to yield 4.40% fully franked over the coming 12 months, with its next dividend due in August.

16/04/2025 09:43

Super Retail Group (SUL) $12.72

SUL is one position held in the MM portfolios which has been under pressure in 2025, with the stock down 16.2% year-to-date, worse than the broad markets' 4.9% decline.

15/04/2025 09:37

Commonwealth Bank (CBA) $157.29

So little needs to be said about CBA, it’s a great bank, priced “richly” for a reason. It's undoubtedly expensive on all traditional metrics, but it has proven capable of adding value to a portfolio as both a defensive play and a relatively high beta stock when the market is on fire.

09/04/2025 09:27

National Storage REIT (NSR) $2.17

NSR has three primary rivals, including Abacus Storage King (ASK), which this week received a $1.9bn takeover bid from South African tycoon Nathan Kirsh (Ki Corporation) and US Public Storage (PSA US).

07/04/2025 09:58

Active Growth Portfolio – Amendments

We are making two changes to the Growth Portfolio this morning.

27/03/2025 09:54

APA Group (APA) $7.87

We have left APA until last because we have reviewed the stock several times over the past six months. In February, the stock significantly exceeded market expectations, and in particular, APA stated that it could internally fund its planned $1.8 billion organic growth programme over the coming three years without a capital raise.

27/03/2025 09:53

Metcash Ltd (MTS) $3.13

Metcash has struggled over the last three years as the owners of household brands such as IGA, Porters Liquor, Mitre 10 & Total Tools have faced intense competition, particularly in hardware, where growth has failed to live up to expectations – Bunnings is a tough adversary!

20/03/2025 09:54

BHP Group (BHP) $39.56

BHP Group unified its share structure in January 2022, simplifying its corporate structure by consolidating its dual-listed company on the Australian Securities Exchange (ASX). Shareholders of BHP Plc (UK-listed) received BHP Limited (ASX) shares at a 1:1 exchange ratio.

20/03/2025 09:53

BHP vs RIO

First off this morning, we’ve considered whether MM still prefers BHP Group (BHP) over RIO Tinto (RIO) as talk around the potential end to RIO’s dual listing gathers momentum – so far in 2025, RIO is up +1.8%, and BHP group (BHP) +0.2% while both have also paid healthy dividends.