July 16, 2014
Following the recent merger of veterinary group Greencross and Mammoth the owner of rapidly expanding Petbarn stores, the share price of combined entity, listed as Greencross Limited (GXL), has improved markedly. As a result, Dow Jones has announced that Greencross will replace David Jones on the S&P/ASX200 index after the close of trading on July 18, 2014. We expect that the latest price increase will be supported by fund managers whose investment mandates are limited to ASX200 taking positions in Greencross.
Morgan Wealth clients who have held the stock for the year ended 30 June 2014 have achieved returns of 97.64%.