Fund Purchases

I just put in a bid to buy 2000 shares in the Challenger Infrastructure Fund (CIF.AX). The annual results came out and they seem OK to good to me. This will take our holding to 5000 shares which is 2% of net worth. The NAV is $A2.89 per share and the share price is $A1.59. This will reduce our borrowing capacity by less than the cost as the fund is marginable with CommSec. I'm also thinking of adding to our holding in the Aurora Sandringham Dividend Income Fund (AOD.AX). I received a letter to buy more units as an existing shareholder without paying commission direct from the fund. Their strategy has held up well through the GFC. The fund has a low correlation with my portfolio (0.14). I'd look to move that one towards 2% as well. Eventually, some of our other alpha oriented single-manager funds are going to have to come down towards the 2% mark I think. OCP.AX, CAM.AX, TFSMX, and PMC.AX are all above 2% of net worth currently. I'll be prepared to keep TFSMX and PMC.AX at 3% or so or more as these managers have proved themselves through the GFC to be pretty robust. I'm also thinking of doing some buying in my US based account soon too.