MG Alpha Model Portfolio Update March 2023

Off the mark

The MG Alpha Return portfolio fell 10.34%, whilst the ASX200 rose 1.98% in the March quarter. The underperformance can be attributed to three stocks; Jervois Global (JRV), IODM (IOD) and Whitehaven Coal (WHC). For JRV and WHC falling commodity prices caused the large falls, and for IOD there was a small capital raise, along with profit taking. Markets began the year strongly, before retreating on concerns for the banking sector following the collapse of Silicone Valley Bank and Credit Suisse. The Dow Jones rose 0.4%, NASDAQ 16.8% and in the UK, the FTSE gained 2.4%. Interest rate hikes were paused in April as investors now ponder if the next move in rates is down. 

MG Alpha Model Portfolio Update December 2022

Steady as she goes

The MG Alpha Return portfolio rose 4.6%, whilst the ASX200 rose 8.7% in the December quarter. Markets rebounded from a dismal September by rallying over 6% in both October and November, before easing in December. For the rolling 12 months the portfolio has strongly outperformed, rising 7.2% vs the ASX –5.5%.

MG Alpha Model Portfolio Update

Alpha Finishes Strongly; More to Come

The MG Alpha portfolio rose 39.6% for Financial Year 2021, with the broader market rising 23.99%. For the quarter we trailed the ASX 200 rising 3.6% versus 7.7%. The pandemic related panic allowed us to accumulate positions in the banks, major miners and beaten up property trusts and high yield credit income funds, which will prove worthwhile acquisitions in years to come.