Why do you hold IOOF Holdings (IFL)?
Hi Team, you hold IOOF in your Income Portfolio however isn’t AMP a scary roadmap for these sorts of businesses? Thanks Ben
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Answer
Hi Ben,
The obvious answer is yes of course but that’s one of the reasons that the stock has fallen almost 70% over the last few years. The companies latest result was solid and there’s an enormous amount of bad news already built into the stock, we feel there remains a market for personal investment advice even if ASIC has made it a minefield for many but out of adversity grows opportunities – it was only a few years ago that everybody hated the banks! IFL is forecast to yield more than 7% fully franked over the next 12-months which we believe helps to justify this position in our Income Portfolio, especially from a risk / reward perspective. We remain bullish here.
