A fund did the unthinkable and cut its CBA stake. Time to follow suit?
The Australian Foundation Investment Company says the ‘extreme’ valuation of CBA left it little choice but to take some profits. But our super giants aren’t stepping back.
As Australia’s oldest and largest listed investment company, the Australian Foundation Investment Company’s $10 billion investment portfolio is loaded to the gills with the grand old names of the ASX.
And for many years, its biggest holding has been the bluest blue chip of them all: Commonwealth Bank.
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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
