December Newsletter
http://nzx-prod-s7fsd7f98s.s3-websit...319/411584.pdf
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December Newsletter
http://nzx-prod-s7fsd7f98s.s3-websit...319/411584.pdf
Dominoes 4% of fund .....bad update and shares plunge 30% odd ...so BRM NAV impacted about 1%
DMP totally oversold ... panic reaction. I hope that they buy heaps more at current price and be much better off in not too distant future
Robbie not adverse to trading opportunities ....from last update added and exited a position in double quick time ...we'll done Robbie.
Share price volatility provided us with the opportunity to add PEXA to the portfolio.
PEXA operates the only e-conveyancing property exchange in Australia. The vast majority of property transactions (sales and mortgage refinancing) are processed through PEXA's platform. PEXA also has a nascent presence in the UK market.
The market was disappointed by the slow pace of expansion in the UK evident in a Q4 trading update which led to a sharp fall in its share price. We bought shares following this fall. To help fund the PEXA purchases we exited our Westpac shareholding.
The investment opportunity in PEXA proved fleeting. The share price rapidly rose circa 20% after we began buying shares, to a level that we felt priced in a strong acceleration in UK growth prospects. We think this earnings growth is likely to be harder won and will take time. Unusually for us, we therefore banked the profits and exited the position after this rebound.
Dom will bounce back for sure.
I liked the overall tone of the newsletter with the fund managers being active in the market.
Monthly update - http://nzx-prod-s7fsd7f98s.s3-websit...987/412334.pdf
CSL was down 5% yesterday, on a heart drug trial failure. While SP back to where it was a month ago, it is BRMs biggest holding and 10% of their portfolio.
Portfolio has had winners and losers over the last few weeks.
With a balanced portfolio it has managed to maintain its NAV.
I think the CSL disclosure may represent a buying opportunity for many.
Let's see how the market reacts to the positive CSL half year results out today.
Looking at around 80 cents nav for February close. Wise Tech has been a standout and that's the portfolios largest investment.
https://www.nzx.com/announcements/427598
NAV $0.7824 after going ex-div.
The 51k that went through this morning at 71 cents looked pretty good buying!
NAV @ 74.72
Buying back at 72
Interesting ....