Diversified Portfolios - Intelligent Investor Equity Income - 31 May 2017

Intelligent Investor Equity Income May Report
By · 31 May 2017
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31 May 2017
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For most of this financial year, the Intelligent Investor Equity Income Portfolio has been struggling to keep up with the surging banking sector. But there was a sharp turnaround in May, with the big four banks giving up a whopping 12%, on average, due in large part to the Government’s plan to impose a levy amounting to around 4% of their net profit.

Since they contribute around 25% of the All Ordinaries Index, that knocked it down by about 3% alone, largely accounting for its 2.6% fall. Our Equity Income Portfolio only holds around 10% in the big banks, so the drag on it was closer to 1%, and it managed to overcome that to post a flat performance.

The best performers for May were Ainsworth Game Technology (up 19%), Flight Centre (up 14%) and Sydney Airport (up 8%). Besides the banks, GBST was the worst performer, falling 8%.

Intelligent Investor Equity Income Portfolio -0.12% 5.67% 7.22% 11.21% 14.16%
ASX All Ordinaries Accumulation Index -2.58% 1.28% 6.88% 10.23% 7.58%
Excess to Benchmark 2.46% 4.39% 0.34% 0.98% 6.58%


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