Growth Portfolio trades
Recommendation
Buy ideas can be a bit like buses. You wait around for ages and then several come at once. That's been the case for us recently, with a number of stocks being upgraded to Buy in the past few months, including Scentre Group, IOOF Holdings, Wesfarmers and Platinum Asset Management. Of those, our Equity Growth Portfolio already holds IOOF and has a reasonable exposure to the wealth management sector, with a holding also in Perpetual, so we'd need more value to persuade us to buy Platinum. Scentre Group doesn't quite meet the portfolio's growth aspirations (we'd need to see a still lower price to be tempted), but we've taken the plunge with Wesfarmers, buying a 4.5% weighting at $41.26.
The purchase was funded partly out of the portfolio's cash holdings, which fall to about 4% of the portfolio's value.
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