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Listed Model Portfolios Macquarie Wealth Management Research 24-Sep-21 Listed model portfolios Macquarie Wealth Management Research MWM Recommended Listed Portfolios The MWM Recommended Portfolios represent a starting point to form a portfolio with growth or income characteristics. The port folios are reviewed monthly. Combined Macquarie Securities analysts assist with the construction of the portfolios. The following valuation sheets are updated on a weekly basis. Growth Portfolio , page 2 Stocks are generally selected on the basis of solid earnings growth supported by strong returns on equity, attractive sector characteristics or competitive advantages. Income Portfolio, page 3 This portfolio is created with a focus on a higher degree of earnings certainty, backed by strong cash -flows and highly tax effective dividend income. Growth portfolio Macquarie Wealth Management Research 24 September, 2021 Prev Target Market EPS growth (%) ROE (%) PE Ratio (x) Portfolio Code Company Sector Recommendation Close Price Cap $m FY21 FY22 FY21 FY22 FY21 FY22 Weights CSL CSL Health Care Neutral 312.99 302.50 142,620 12.6 -7.3 31.9 24.6 43.7 47.1 7.9% JHX James Hardie Industries Materials Outperform 53.86 59.00 23,974 29.6 27.6 43.7 48.9 38.0 29.8 7.7% ALL Aristocrat Leisure Consumer Discretionary Neutral 46.40 39.00 29,628 69.9 29.0 24.1 27.0 36.6 28.3 7.2% IEL IDP Education Consumer Discretionary Outperform 32.84 32.00 9,141 -51.7 168.8 10.1 25.9 232.8 86.6 6.9% BHP BHP Group Materials Outperform 38.38 56.00 113,231 88.5 2.8 34.5 32.5 8.3 8.0 6.7% CWY Cleanaway Waste Management Industrials Outperform 2.75 3.15 5,667 -0.5 1.5 6.4 6.3 34.1 33.6 6.1% SGR Star Entertainment Group Consumer Discretionary Outperform 4.35 4.25 4,141 -6.4 -90.2 3.3 0.3 35.3 358.8 5.9% GMG Goodman Group Real Estate Outperform 22.87 24.84 42,726 14.0 13.2 9.9 10.7 34.9 30.8 5.6% MGR Mirvac Group Real Estate Outperform 3.16 3.28 12,459 -15.8 25.2 4.2 5.1 28.5 22.7 5.0% SDF Steadfast Group Financials Outperform 4.92 4.90 4,805 16.6 11.9 14.1 14.3 26.5 23.7 4.9% COH Cochlear Health Care Outperform 237.04 256.00 15,591 36.5 20.5 15.3 16.3 65.8 54.6 4.8% MIN Mineral Resources Materials Outperform 47.79 80.00 9,025 229.6 5.4 40.3 32.8 8.2 7.8 4.6% RMD ResMed Inc. Health Care Neutral 39.58 37.50 57,511 12.1 24.6 29.0 31.6 53.9 43.2 4.6% BXB Brambles Industrials Outperform 11.07 13.05 15,967 16.0 2.1 20.5 21.1 21.3 20.8 4.6% NWL Netwealth Group Financials Outperform 15.21 17.75 3,708 22.1 16.3 63.9 61.0 67.7 58.2 4.5% OZL Oz Minerals Materials Outperform 22.97 32.00 7,648 176.7 22.1 17.4 18.6 12.7 10.4 4.5% EML EML Payments Information Technology Outperform 3.96 4.45 1,440 14.8 -17.3 7.6 6.9 44.9 54.3 3.1% FCL FINEOS Corporation Information Technology Outperform 4.40 4.92 1,327 nmf 55.6 -7.4 -2.6 nmf nmf 2.8% NST Northern Star Resources Materials Outperform 9.15 14.00 10,653 nmf nmf -2.2 1.7 nmf 77.3 2.6% nmf - not meaningful For additional information ask your advisor for (or refer to) the most recent portfolio review. Source: Macquarie Wealth Managament Research and Macquarie Research Income portfolio Macquarie Wealth Management Research 24 September, 2021 Prev Target Market Div yield (%) Franking (%) PE Ratio (x) Portfolio Code Company Sector Recommendation Close Price Cap $m FY21 FY22 FY21 FY22 FY21 FY22 Weights TLS Telstra Corporation Communication Services 3.98 - 47,335 4.0 4.0 100 100 41.3 32.7 8.2% WBC Westpac Banking Corporation Financials Neutral 25.07 26.50 91,972 4.8 5.0 100 100 15.3 15.5 7.4% NAB National Australia Bank Financials Outperform 27.07 29.00 88,844 4.6 4.8 100 100 14.5 14.5 7.1% ANZ ANZ Bank Financials Outperform 27.38 29.50 77,947 5.1 5.1 95 90 14.0 13.4 6.5% PMV Premier Investments Consumer Discretionary Outperform 27.63 33.00 4,389 2.9 2.9 100 100 16.9 20.3 6.2% WES Wesfarmers Consumer Discretionary Neutral 57.49 61.35 65,184 3.1 6.6 100 100 27.3 28.3 6.2% SHL Sonic Healthcare Health Care Neutral 41.49 40.50 19,897 2.2 2.4 51 35 15.2 17.0 5.9% ALX Atlas Arteria Industrials Neutral 6.89 6.52 6,608 4.1 6.1 0 0 10.2 7.9 5.6% CBA Commonwealth Bank Financials Underperform 100.80 88.50 178,829 3.5 3.9 100 100 21.7 20.3 5.5% MFG Magellan Financial Group Financials Neutral 37.92 46.75 6,969 5.6 6.7 75 75 16.8 14.6 5.5% AST AusNet Services Utilities 2.58 - 9,881 3.7 3.7 40 0 29.1 35.2 5.2% APA APA Group Utilities 8.73 - 10,300 5.8 6.1 0 16 62.2 34.8 4.8% FMG Fortescue Metals Group Materials Outperform 15.53 25.00 47,816 24.5 16.5 100 100 3.4 4.9 4.8% COL Coles Group Consumer Staples Outperform 16.97 19.80 22,637 3.6 3.7 100 100 22.5 21.8 4.7% AZJ Aurizon Holdings Industrials Outperform 3.72 4.27 6,847 7.7 7.6 70 30 13.0 13.2 4.4% AMC Amcor Materials Outperform 16.13 18.02 24,714 4.0 4.2 0 0 15.7 14.5 4.2% GUD GUD Holdings Consumer Discretionary Outperform 10.23 13.60 970 5.6 5.9 100 100 14.2 14.2 3.8% NEC Nine Entertainment Co. Holdings Communication Services Neutral 2.63 2.80 4,485 4.0 3.8 100 100 17.2 18.3 3.8% nmf - not meaningful For additional information ask your advisor for (or refer to) the most recent portfolio review. Source: Macquarie Wealth Managament Research and Macquarie Research Recommendation definitions (Macquarie Australia/New Zealand) Outperform – return >3% in excess of benchmark return Neutral – return within 3% of benchmark return Underperform – return >3% below benchmark return The views expressed in this research accurately reflect the personal views of the analyst(s) about the subject company or companies and its or their securities. The analyst(s) responsible for the preparation of this research receives compensation based on overall revenues of Macquarie Group Limited (ABN 94 122 169 279 AFSL 318062) (“MGL”) and its related entities (the “Macquarie Group”, “MGL”, “We” or “Us”). No part of the compensation of the analyst(s) was, is or will be directly or indirectly related to the inclusion of specific recommendations or views in this research. This research has been issued and is distributed in Australia by Macquarie Equities Limited (ABN 41 002 574 923 AFSL 237504) (“MEL” or “We”), a Participant of the ASX. MEL is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Cth), and MEL’s obligations do not represent deposits or other liabilities of Macquarie Bank Limited (ABN 46 008 583 542). Macquarie Bank Limited does not guarantee or otherwise provide assurance in respect of the obligations of MEL. This research contains general advice and does not take account of your objectives, financial situation or needs. Before acting on this general advice, you should consider if it is appropriate for you. We recommend you obtain financial, legal and taxation advice before making any financial investment decision. Past performance is not a reliable indicator of future performance. You should consider all factors and risks before making a decision. Please refer to MEL’s Financial Services Guide (FSG) for more information at https://www.macquarie.com.au/advisers/financial-services-guide.html. This research has been prepared for the use of the clients of the Macquarie Group and must not be copied, either in whole or in part, or distributed to any other person. If you are not the intended recipient, you must not use or disclose this research in any way. If you received it in error, please tell us immediately by return e-mail and delete the document. We do not guarantee the integrity of any links, e-mails or attached files and are not responsible for any changes made to them by any other person. Nothing in this research shall be construed as a solicitation to buy or sell any security or product, or to engage in or refrain from engaging in any transaction. This research is based on information obtained from sources believed to be reliable, but We do not make any representation or warranty that it is accurate, complete or up to date. We accept no obligation to correct or update the information or opinions in it. Opinions expressed are subject to change without notice.
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