Portfolio Changes to Sestante Dynamic Managed Accounts
All portfolios sold their holding in the Macquarie Income Opportunities fund and allocated the proceeds to the Perpetual Diversified Income fund. The performance of the Macquarie Income Opportunities fund hasn’t lived up to expectations and we feel we will get a better risk-adjusted return from the Perpetual fund.
In addition, we swapped the Pimco Diversified Fixed Income fund for the Pimco Global Bond fund. This trade was made to ensure we maintained our exposure to international fixed income at current levels post the swap of Macquarie for Perpetual and to slightly increase the duration of the portfolio.
We have also re-introduced an exposure to the ex-20 part of the Australian equity market through the Yarra Ex-20 Australian Equities fund. This was funded by the sale of IOZ.
| Conservative | Moderately Conservative |
Balanced | Assertive | Aggressive | |
| Macquarie Income Opportunities | -3.70% | -6.42% | -4.52% | – | – |
| Perpetual Diversified Income | 3.70% | 6.42% | 4.52% | – | – |
| Pimco Diversified Fixed Income | -5.22% | -5.99% | -4.22% | – | – |
| Pimco Global Bond | 5.22% | 5.99% | 4.22% | – | – |
| Yarr Ex-20 | 1.00% | 1.81% | 2.75% | 4.00% | 4.96% |
| IOZ | -1.00% | -1.81% | -2.75% | -4.00% | -4.96% |
Portfolio Changes to CFS FirstChoice Dynamic Managed Accounts
In the September quarter, all relevant portfolios sold their holding in the Macquarie Income Opportunities fund and allocated the proceeds to the Perpetual Diversified Income fund. The performance of the Macquarie Income Opportunities fund hasn’t lived up to expectations and we feel we will get a better risk-adjusted return from the Perpetual fund.
| Conservative | Moderate | Diversified | Balanced | Assertive | Aggressive | |
| Macquarie Income Opportunities | -5.25% | -8.00% | -5.49% | -4.00% | 0.00% | 0.00% |
| Perpetual Diversified Income | 5.25% | 8.00% | 5.49% | 4.00% | 0.00% | 0.00% |
For more information, please contact Andrew Davies.