In a recent update, asset manager Capman has been completely removed from Inderes’ model portfolio. The decision was made due to the team’s view of the stock valuation as relatively neutral and the preference to allocate funds elsewhere. Capman had been in Inderes’ model portfolio since 2013, but with recent challenges in the business due to rising interest rates, the team decided to divest. However, analysts at Inderes expect Capman to reach a normal result level next year, with growth potential being too reliant on dividend yield.
On the other hand, Neste was added to Inderes’ model portfolio in February, despite its share price dropping by 20 percent since then. The analysts believe that Neste’s short-term challenges are manageable and include refining margins and production ramp-up difficulties. They anticipate growth in demand for renewable products by the end of the decade, leading to a positive return on investment. As a result of these transactions, Inderes’ model portfolio now has a higher cash weight.
The analysts closely follow the trades made by the model portfolio team and provide transparent insights into their decision-making process. Despite removing Capman from its model portfolio, Inderes continues to offer buy recommendations for Neste citing an attractive target price and growth potential. Overall, Inderes’ model portfolio reflects shifting market dynamics and seeks capitalize on opportunities while remaining transparent in its approach.