Portfolio Update

In January, the HNW Australian Equity Portfolio had a pleasing month, gaining +2.91% and ahead of the ASX 200 TR +1.19% Over the month, positions in Incitec Pivot (+10%), Medibank Private (+8%), JB Hi-Fi (+8% - though the position was trimmed mid-month [...]

This morning, global chemical company Incitec Pivot (IPL) announced a $500 million capital return to shareholders. The HNW Income & Growth Equity Portfolios have a 2.5% weight to IPL. Key Points: Capital Return:  IPL are returning 26 cents to shareholders. [...]

In the latest report on shorted positions in HNW's Guided Portfolios, we see no major changes; other than a decrease in the short interest in JBH:   The key themes in the below table: Overall level of shorts are not [...]

In December, the HNW Australian Equity Portfolio gained +5.66% but trailed the ASX200 TR return of +7.26% in a high beta Christmas rally to end the year. There was close to no company-specific news with companies in blackout before the release of [...]

Incitec Pivot (IPL) Today, the Australian fertiliser and global explosives company held their annual general meeting for 2023, which showered some Christmas gifts on their shareholders. The HNW Equity Growth Portfolio holds a 3% weight in IPL.   Sale of [...]

In November the HNW Australian Equity Portfolio gained +5.24% slightly ahead of the benchmark’s return of +5.03%. Global markets (except for China) rallied over the month on the sentiment that interest rate rises had probably come to an end and that cuts in 2024 were on [...]

Incitec Pivot (IPL) Today, the global fertiliser and explosives manufacturer, reported their full year 2023 results, which were in line with expectations and full of capital management initiatives. The HNW Equity & Income Portfolios hold a 3% weighting to IPL. Key [...]

In October the HNW Australian Equity Portfolio declined by -4.78%, behind the index’s return of -3.78% in a market dominated by geopolitical concerns and higher interest rates rather than company specific news, despite many companies giving positive trading updates at their AGMs https://atlasfunds.com.au/october-trading-updates/ . [...]

Janus Henderson (JHG) This morning, the global fund manager presented their third quarter 2023 results, which were better than expectations, but the big news was plans to delist from the ASX and focus on the NYSE. The HNW Equity and Income [...]

In September, the HNW Australian Equity Portfolio declined by -2.36%, ahead of the index return of -2.84%.  Stock movements over the month had nothing to do with company fundamentals, but rather macroeconomic concerns around higher interest rates and oil price which saw global [...]