MELBOURNE: Australian supermarkets and real estate stocks may be the best way to play defence amid uncertainty surrounding the spreading coronavirus.
That’s the view of Lachlan Davis, who leads IFM Investors Pty’s large-cap active equities team that’s been buying Coles Group shares and A-REITs. He’s also shorted Flight Centre Travel Group Ltd, discretionary retailers and gone underweight Qantas Airways Ltd and banks as the Melbourne-based fund manager waits for clear signs concerns have eased.
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