Leading Australian fund manager Yarra Capital Management is favouring banks and certain retailers and steering clear of commercial property and Telstra.
In a post-reporting season update the firm’s head of Australian equities Dion Hershan said Yarra was holding on to its bank stocks, had bought into JB Hi-Fi and Super Retail Group and had substantially increased its stake in rubber glove maker Ansell.
“They have strong brands, good IP, and saw the most marked increase in organic growth. Ansell is becoming simpler and more focused,” Mr Hershan told The Australian Financial Review.
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