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I set up my SMSF just recently in March and invested evenly across 8 portfolios, mainly Australian blue chip companies made up of Banking (CBA, NAB), Health (HSO), Resources BHP, WPL and WOW. I have also invested in two smaller speculative companies.
So to clarify – 2/8th of my portfolio is with CBA, and with AUSTRAC investigation and the current slump I am wondering if it would be better to cut my losses and pick up the stock again after AUSTRAC ruling?
A: Thanks for the question.
Having a quarter of your portfolio in one stock is a higher risk strategy and not something that I would ordinarily recommend.
In due course, I would suggest that you look to reduce this concentration.
In regards to your specific question, am I concerned
Am I concerned about CBA? No.
And the “slump””? Not sure this term is appropriate – CBA has gone ex a $2.30 dividend, so the apparent price drop looks a lot more than it really is.
Regards
