What's on at Eureka Report and model portfolio updates

Wilson Asset Management, Budget 2016 and more.

Time to get the diaries out: As you probably know, the PM blindsided the entire press gallery (and many travel agencies!) with a surprise move to have the Federal Budget one week earlier than usual: So the Federal Budget this year will be on May 3...and the annual Eureka Report post-Budget webcast will happen on Thursday May 5 at 2:30pm. 

It's going to be a very interesting Federal Budget this year – the first for new Treasurer Scott Morrison – with some challenging macro-issues not to mention the possibility of changes in everything from super contribution concessions to HECs debt arrangements.

Join me as I host Robert Gottliebsen and Doug Turek in the studio for this very special event: We'll have had 48 hours to digest just what really happened and I expect the questions from Eureka subscribers will be coming at a rate of knots...we look forward to it.

Meanwhile, a little closer to hand in the Wednesday edition this week (April 20) on video I'll be doing a portfolio review with our Listed Investment Company specialist Mitchell Sneddon. You can also see Mitchell's very timely interview with the Wilson Asset Management team (just launching a $300m fund) in tonight's edition - The LIC sector is where the money is flowing this year ...to see the video interview simply click here.

Income First model portfolio update

The Income First model portfolio posted a solid week, lifting in value by 0.99 per cent. In context, the market lifted by around four per cent last week, so the portfolio underperformed on the way up. This is expected given the portfolios large cash holdings, and lower volatility.

Looking forward, NAB and ANZ will report financials in May and we expect to see an update from Flexigroup regarding financing and profit guidance. For now we remain comfortable with the portfolio’s overall exposure and income generation level, though new opportunities will continue to be assessed.

- James Samson

LIC model portfolio update

There are no changes to the model portfolio this week. Last week saw Bailador Technology Investments (BTI) enter the portfolio (click here to read more: Our newest LIC purchase, April 11, 2016). BTI went on to close at an all time high, ending the week at $1.06. Short-term performance is not our focus but it was pleasing to see all the same.

Last week Chris Stott and Matthew Haupt from Wilson Asset Management came in to discuss the new LIC WAM Leaders and I followed that up putting my thoughts down on paper. You can read the article and view the video here: (read here: WLE – our thoughts). Finally, the team at PM Capital have been out across the country pressing the flesh. Click here to watch the video of their Sydney presentation, which covers off both LICs.

If you're interested in my thought's on BKI's SPP, check out last week's letter to the editor section: click here.





Current Share Price

BKI Investment Company





Bailador Technology Investments





Magellan Flagship





PM Capital Asian Opp.





Perpetual Equity Investment Co.





Thorney Opp.





WAM Research





*Not including dilution effect of outstanding options

 - Mitchell Sneddon

InvestSMART FORUM: Come and meet the team

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