PORTFOLIO MANAGEMENT – UNITED STATES

Vale challenges Rio and BHP on China sales

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Original article by Peter Ker
The Australian Financial Review – Page: 25 : 1-Mar-18

Brazilian iron ore miner Vale has indicated that since 2016 its profits margins on sales to China have matched those of BHP Billiton and Rio Tinto. Vale has increased the average iron content of its ore to 64.3 per cent, and a spokesman says this should rise further over the next several years. In contrast, BHP’s ore has an average iron content of 61 per cent, while Rio Tinto’s averages 62 per cent. Meanwhile, BlackRock fund manager Evy Hambro says expectations that the price discount for lower-grade iron ore will be sustained prompted the World Mining Trust to divest its stake in Fortescue Metals Group in 2017.

CORPORATES
VALE SA, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, BLACKROCK INCORPORATED, BLACKROCK WORLD MINING TRUST PLC

Buffett to play on the ASX

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Original article by James Eyers
The Australian Financial Review – Page: 1 & 13 : 17-Jun-15

Insurance Australia Group (IAG) shares rallied on 16 June 2015 in response to a deal for US investment guru Warren Buffett to acquire a 3.7 per cent stake in the general insurer for $A500m. As part of the deal, Buffett’s Berkshire Hathaway will be paid 20 per cent of IAG’s annual revenue for the next decade, which will be reinvested in a number of large Australian-listed companies. Buffett has indicated that bank stocks may be included in the portfolio.

CORPORATES
INSURANCE AUSTRALIA GROUP LIMITED – ASX IAG, BERKSHIRE HATHAWAY INCORPORATED, CREDIT SUISSE (AUSTRALIA) LIMITED, PETERS MACGREGOR CAPITAL MANAGEMENT PTY LTD, WELLS FARGO BANK, BANK OF AMERICA CORPORATION