In January, the HNW Australian Equity Portfolio had a solid absolute month up +4.08% though trailing the ASX200 TR of +4.57%, an acceptable outcome for a lower beta portfolio, though frustrating for the Portfolio’s fund manager as the last couple of trading days saw up us give up relative outperformance against the index. As always in January it is tough to outperform the index with the majority of companies in blackout prior to the February reporting season. The key news over the month was share market volatility post Trump’s inauguration on the 20th of January.
Positions in Macquarie Bank (+9%), ANZ Bank (+7%), QBE Insurance (+9%), Atlas Arteria (+7%) and Sonic (+6%) helped performance. On the negative side of the ledger, positions in Transurban (0%), CSL (0%) and Whitehaven (-1%) detracted.
The HNW Equity Income Portfolio gained by +4.21% ahead of its blended benchmark of +2.59%. Positions in JB HFi (+9%), Suncorp (+9%), Deterra (+9%), QBE Insurance (+9%), Macquarie (8%) and Atlas Arteria (+7%) helped performance. On the negative side of the ledger, positions in Transurban (0%), Arena REIT (0%) and Whitehaven (-1%) detracted.
As always, January saw no dividends being declared by companies, though February will be a rich source of income for both HNW Portfolios.
