In this report, we discuss several stocks in the URB Equities Portfolio. With the recent volatility in global equities markets, we thought it was appropriate. From an overall portfolio perspective, URB has held up relatively well. The market (as measured by the S&P/ASX 300 Accumulation Index) peaked in late August and has since declined by 9.3% to 30 November 2018. By comparison, the URB Portfolio has increased in value by 0.2% over the same period.

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