What's on at Eureka Report and model portfolio updates
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At Eureka Report we have made a name for ourselves making "calls" big and small that benefit you, the private investor. In case you missed it, Alan Kohler's return after long service leave on Saturday marked a major call, the potential of resource stocks in the year ahead: Later this week in the Wednesday edition – which is also our Easter Holiday Edition – Tim Treadgold will dig deeper to examine the immediate prospects in the resources sector.
Separately, those on the lookout for income should be very interested in James Samson's ‘call' this week, which marks the addition of a new stock into the Income First model portfolio. Credit Corp Group has been on his watchlist for a while now, and we are excited by the strong dividends on offer here, enough to take a six per cent portfolio stake in the debt collector. Make sure you read his report here: Why we like Credit Corp - and the weekly income portfolio update below.
Meanwhile, we have more upgrades and analysis this week - Simon Dumaresq has taken a good look at Retail Food Group, the company that owns the likes of Gloria Jeans and Crust pizza, and sees them as a good growth buy. You can read his analysis on this stock here: Retail Food Group.
Don't forget our special Webcast kicks off live at 12:30pm this Thursday March 24 - start your Easter long weekend early by tuning in to put your questions to James Samson, Mitchell Sneddon and Simon Dumaresq. I'll be hosting the event and making sure we cover how our model portfolios fared over the recent reporting season – and making sure all your questions get answered ...click here to register for a reminder.
Income First model portfolio
The Income First model portfolio outperformed a flat market last week. Pleasingly, the performance came through multiple stocks and the accrual of some dividends. During last week DWS and AHG started trading on an ex-dividend basis, adding to the yield of the portfolio.
ARF announced its next quarterly distribution will be 2.775 cents per share, in line with previously provided distribution guidance and shares will commence trading on an ex-distribution basis on 30 March 2016.
Finally, FXL announced an earlier than anticipated completion of the acquisition of Fisher & Paykel Finance. This will add to valuation for the business, in that it brings additional earnings into the group earlier than previously anticipated. Hopefully this can lead to some further outperformance in FXL going forward.
This week I am also adding a new stock to the portfolio. A 6 per cent weighting (around $6000) will be invested in Credit Corp Group (CCP) at market open tomorrow morning. For more on our decision to include CCP in the portfolio click here: Welcoming Credit Corp to Income Portfolio.
- James Samson
Growth First model portfolio
Vita Group (VTG) has been an excellent performer, up from our $1.70 entry to $3.24. At the opening price tomorrow we will be re-balancing from the current 11.3 per cent to 6 per cent of the portfolio. We will also be utilising the VTG proceeds and some cash for a 6 per cent position in Retail Food Group (RFG).
- Simon Dumaresq
LIC model portfolio
Last week I said we would be keeping a close eye on Cadence Capital's NTA announcement as the share price and NTA were drifting apart. We were right to be watching out for it. Cadence had a shocker, down 7.38 per cent before fees for the month. The day of the announcement the share price dropped six per cent, but made its way back up over the course of the week.
Has Cadence experienced a month like this before? Yes. Will it again? Yes. Am I concerned? No. In times of volatile markets, due to the long/short nature of the fund, this will happen. When markets are changing CDM will experience higher volatility. I am happy in the case of Cadence to continue to hold it through, as history shows the team are long term solid performers.
In other news WAM Research Limited has become a substantial holder in the global marketing and communications business Enero Group (EGG). WAX becomes substantial as other small to mid-cap managers Contango and NAOS cease to be substantial shareholders. Speaking of small to mid-cap managers I sat down with Michael Glennon from Glennon Small Companies Limited (GC1) and discussed five small caps that have caught his attention. Click here to read the article and watch our conversation: Michael Glennon's top five.
LIC model portfolio – NTAs
Stock | Code | Date | NTA | Current Share Price |
BKI Investment Company | BKI | 29/02/16 | $1.45 | $1.64 |
Cadence Capital | CDM | 29/02/16 | $1.172 | $1.455 |
Magellan Flagship | MFF | 04/03/16 | $1.908* | $1.90 |
PM Capital Asian Opp. | PAF | 11/03/16 | $1.0722* | $0.88 |
Perpetual Equity Investment Co. | PIC | 17/03/16 | $1.002* | $0.94 |
Thorney Opp. | TOP | 29/02/16 | $0.542 | $0.52 |
WAM Research | WAX | 29/02/16 | $1.172 | $1.31 |
*Not including dilution effect of outstanding options
- Mitchell Sneddon
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