Yes, i think this hits the nail on the head, BKI are not the...

Yes, i think this hits the nail on the head, BKI are not the type to buy a high growth/high multiple stock and have missed out the past few years.

In an interview about 9 months ago, Tom Milner stated this and his favourite stock at the time was Transurban. While this is a cash flow monster, it's not going to be a booming stock. It gave me an insight into their thinking and if you are interested in income, this is the way to go. But you have to be realistice about what you are owning.

The holdings are overweight financials (the big 4 and Macquarie) and they have not yet restored their dividends of the past. They may not get there for many more years.

So they haven't caught the big bounce back in markets since the covid bottom, preferring to look for cash returns. I'm ok with this as part of a portfolio as long as you know what you are buying beforehand.