Why our small companies fund is underweight the retail sector
Montgomery Investment Management
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In this edition of Montgomery’s newsletter Roger Montgomery discusses why our small caps team retain a selective exposure to the retail sector and Sean Sequeira shares his rationale for Macquarie Group being in The Montgomery Fund portfolio.
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WHY OUR SMALL COMPANIES FUND IS UNDERWEIGHT THE RETAIL SECTOR
It’s a tough time to be a retailer, with increasing interest rates, fuel and energy costs putting a squeeze on consumer spending. Retailers will report a variety of experiences through the next few quarters, and this is why the Montgomery Small Companies Fund retain selective exposure to the sector. In this article Roger looks at the cloud over the sector?and how to evaluate your retail portfolio holdings.
WHY MACQUARIE GROUP IS A HIGH CONVICTION POSITION IN THE MONTGOMERY FUND
Macquarie Group (ASX:MQG) is a holding in The Montgomery Fund and this is the second time the Australian Eagle team have taken a position in the company. The team’s conviction levels and the portfolio weight have both increased significantly due to the successful deployment of capital into its “Green Bank.” In recent years, Macquarie has become the market leader in infrastructure projects for both financial advice and as a fund manager.?Sean Sequeira shares more on our investment thesis for Macquarie Group and the drivers that change our longer-term growth profile for the company.