Increased WeightingBalanced Equity Model Portfolio
Increase Tricon Residential (TCN) to a 2.5% Weighting
Trade Rationale – TCN has grown nicely over the past few years compared to many of its peers, and its exposure to both the US and Canada bodes well for management and the company. Its operations have strong resilience, and as home-buyers are priced out of the market due to higher rates, rental properties can continue to see strong growth. TCN has demonstrated strong fundamentals and at its current valuation and with the prospects for a stabilizing housing market, we feel this is an appropriate time to increase our exposure to this name. (5iResearch)