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Why do you hold IOOF Holdings (IFL)?

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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

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.

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IOOF Holdings (IFL)
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