Adviser milking big returns for clients
The Christchurch-based adviser has produced very strong results for clients in recent years, due in large part to a heavy weighting to A2 Milk.
Across his portfolio, more than 75% of client assets is in the stock.
In the quarter to March 31, the top 10 holdings in his portfolios delivered a combined return of 11.45% for the quarter or the equivalent of 45.8% a year. Bean said he had turned some clients into millionaires.
He said the interest from others in his strategies was “understandable”. Some advisers and other market commentators have questioned whether it is too risky because clients had too much riding on the fortunes of one company. The stock has lost about $4 since mid-March.
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