Mandate Memo - 26th March 2026
Opportunistic Buy Day
Fund Status:
Bal Start: $991,155
Bought: MP1, LOV, CBO, ZIP
Sold: None
Bal End: $981,586
Cash: $554,323
Market Commentary
Markets were up overnight in both the US and UK sessions. All sectors except energy rallied back as oil tumbled near the $100 mark. Gold remains around the $4,500 mark. Australian futures are up suggesting another rally today. Expect Woodside and Santos to rise while tech seals off. The market is hoping for a speedy resolution to the conflict but Iran contradicts the Trump administration that talks are occurring. Given the recent news that an insider invested heavily moments before Trump’s “peace tweet” it seems unlikely that there are talks.
Market close saw energy up, gold down. The market ended lower today with Energy and healthcare leading while IT and Comms took another dive. These market swings are trading sentiment based on the rhetoric from POTUS while fundamentals are taking a back seat. Orica, Infratil, and Santos were the gainers while Genesis, Ramelius, and WiseTech fell.
Portfolio Commentary
Two thirds of the portfolio fell. A mixture of tech, materials, and consumer. MP1 gave back the gains it had generated for the portfolio. It had a middle weight so the opportunity was taken to increase it to 7% of the portfolio. WDS gained with the rest of the energy sector. It is only a 2% weight as the sector is heavily geopolitical driven. Opportunistic buying in performing names was taken.
Investment Rationale
Disclaimer: This is a simulated portfolio. Content is for educational purposes only and does not constitute financial advice. Always do your own research.