Q: You increased the weight in the Income portfolio yet Ryan called it a hold on 05 March BNN? Just seeking clarity. Thanks
5i Research Answer:
In the BNN segment, Ryan mentioned that it was 'worth holding' TOU in the event of geopolitical events or a spike in oil (this was before the large spike in oil to above $100). Subsequently, a week later we increased the size of TOU in the income model portfolio, largely in response to new information between the BNN segment and the market update.