A grinding market in May saw most sectors on the ASX put on small gains. Overall, the market added just 0.06%, or 0.68% on a total return basis when dividends are included. Holding the market back in May was the materials sector, in particular, the iron ore stocks.
Overall, the market is up 2.62% this calendar year, or 4.60% when dividends are included.
Reflecting these broader sector movements, our high-income portfolio has outperformed the market by 1.7%, while our growth-oriented portfolio has underperformed by 1.9%. In this our fifth review for the year, we look at their performance in May and detail some changes to our growth portfolio.