March 2019
The S&P/ASX 300 Accumulation Index returned 6.01% for the month of February, with Financials and Materials the top performing sectors and Consumer Staples and Utilities the weakest performers for the period.
We remain defensively positioned, but will switch back into good quality cyclical stocks as we gain confidence sufficient stimulus will be provided. The portfolio should continue to perform well as we move through this phase of the cycle and the market’s premium growth and quality stocks begin to unwind their extreme valuations.
Ralton Concentrated Australian Equity (Australian Shares)
Speedcast International outperformed in February following a better than expected CY18 result and strong FY19 guidance.
Ralton Dividend Builder (High Yield Australian Shares)
Amcor outperformed showed incremental improvement on a range of matters which had been concerning investors.
Ralton Australian Equity Ex 50 (Smaller Companies)
Steadfast Group was a positive contributor to portfolio performance during February after its results were slightly ahead of expectations.
Ralton Leaders portfolio
ANZ Banking Group rallied strongly after the release of the final Royal Commission report which was not as bad as the market had anticipated for the major banks.