• Marcus Bogdan

Portfolio Changes - COVID-19 Corona Virus

Recent changes to the Blackmore Capital Australian Equity Portfolios



With the unprecedented dislocation of economic activity, the emphasis on earnings quality and balance sheet resilience is paramount. We have bolstered our positions in the defensive sectors of consumer staples, healthcare and telecommunications. We have also added to BHP that remains well placed to directly benefit from signs that economic activity is slowly being restored in China. Conversely, we have reduced our exposure to companies exposed to tourism and entertainment and smaller companies that may be more vulnerable in an economic downturn. Our cash weightings remain elevated with the Blended and Income portfolios holding approximately 14% cash, providing further ability to invest when investment opportunities arise. Blackmore Capital’s investment team is undertaking timely and prudent measures to ensure that we reduce our risk to the coronavirus, with the Senior Portfolio Managers Marcus and Richard working in Melbourne and Sydney respectively and the investment analysts working from home. We are tremendously grateful to our investors and hope for a safe and healthy journey for all.

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Blackmore Capital Pty Ltd (ABN 72 622 402 895) (Blackmore Capital) is a Corporate Authorised Representative (CAR) of Artesian Venture Partners Pty Ltd (AFSL 284492)