Suspect MLT is being sold down because it has a heavy weighting towards the banks, which aren't stellar performers growth-wise, though they do a good line in dividends. The bank weighting has gone up as a result of the recent merger with Choiseul, which had a lot of Westpac shares.
The yield is rarely as good as you could get from buying shares in a single bank, and the overall capital growth isn't spectacular. On the other hand, it's unlikely to blow up, and they tend to look after their shareholders.
I'm just feeling a bit grouchy because they suspended their DRP, which really was good value, just after I bought some more shares.
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