Portfolio Update: Selling out of WAX

After very strong portfolio gains, we are selling WAM Research from the LIC portfolio.

It is with a heavy heart that I farewell one of the LIC portfolio’s best-performing holdings, WAM Research Limited (WAX). Since adding WAX into our portfolio in August 2015 it has increased by a total of 33.65 per cent, including dividends.

Why am I selling out? It’s not an easy decision to exit such a strong performer, but if we are to remain consistent WAX has to depart as it is just too expensive.


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