This is a bittersweet report for me to write.
Telling you that I’ll soon be selling Xero Ltd (ASX: XRO) and Pro Medicus (ASX: PME), two of the ASX’s best businesses (past, present and future), long-term massive value creators for the Rask community, and businesses I know extremely well…
It’s bitter for all of these reasons, but also because I believe each business has a more profitable future ahead.
Xero will win more customers, increase prices and so on.
Pro Medicus is still ahead of the pack in medical imaging, winning bigger clients and processing better deals than ever before (and renewing existing customers into longer duration agreements).
Both have a bright future. And I’ve owned them for many years. So this is tough.
However, the decision for me to sell each business is also very sweet…
The reason I’m selling Pro Medicus and Xero is to fully align myself and my own fortunes with the Rask Invest (and Rask Core) communities. This is a big move for me professionally, and personally. Today’s update is the first of many to come in the next month ahead that will detail where my money is going and what I’ve been working on. In short, my money is going to be added to the new Rask Invest model portfolios.
Here are 10 important things I can tell you right now:
- 1,140 Rask followers offered feedback to support me in building the new Rask Invest portfolios. Thank you so much!
- There will be more information to come. You can register your interest here. But please note the information on that page is strictly preliminary and should not be relied upon. I’m sharing it with you, only.
- The Rask Invest PDS will be made public in the next 2 weeks. Our Financial Services Guide (FSG) will also be updated to reflect our ability to help manage people’s money, this week.
- I recommend a minimum investment of $20,000. However, the total amount you can invest is virtually unlimited — as the portfolios are constructed securely, with industry-leading technology, in a diversified manner and use ETFs as the building blocks. Retirees will likely deposit a lot more into the Rask Invest Core portfolios.
- You can dollar-cost average (DCA) into Rask Invest, contribute regularly via Bpay, direct deposit, etc; you can get full tax and performance reports, etc.. Basically, Rask Invest is like full autopilot in a Tesla, except you know exactly what’s going on at any time via the new Rask Invest app (coming soon) and Investor Portal (coming soon).
- The application form, fully transparent portfolios, Q&A functionality, monthly reports, etc. will be available online and in-app, in coming weeks.
- You can choose from one of three diversified, long-term portfolios:
- Terra (50-50), designed for passive income and retirement, with capital preservation front of mind.
- Martian (70-30), for 7+ year growth and income. Designed for people who want some income but also need to invest for growth.
- Jupiter (90-10), for 10+ years of maximum growth. For higher risk people who already have an emergency fund and want maximum compounding over 10 years. Like me.
- Bonus stock research: every month, our senior analysts, Matt Story and Kevin Fung, will dive deep into one ASX and global company with me, offering a full research report. Meaning, we’ll be providing in-depth company/stock research coverage to you, even though our portfolio will use ETFs and managed funds. So, we’re taking care of your Satellite ideas as well.
- Investing with Rask Invest is for long-term investors who want to grow and retire wealthy, but it is also for those of us who place a high value on community, transparency and educating the next generation. The 1,000+ attendees to Rask events this year showcase how many of us there are. Starting in 2024, the Rask Invest community will be invited to quarterly investor events with CEOs, authors, investment experts, and more — for you and your family. The cost of these are fully covered by your investment fees.
- Rask Core members (you, reading this) will also see our model portfolios updated, research stock coverage added, a couple of new tools, and less distraction. The price for new members only will increase materially, to reflect our increased investment in research, ideas and coverage. Current members are not impacted by the price rise, to reward your loyalty and support. You will likely also see simple new tools from Pearler and Navexa inside Rask Core.
I’m excited to build this with you
This is the biggest step in the history of Rask, there is no doubt in my mind. But after hundreds of interviews, thousands of hours of researching, study, industry knowledge, and a genuine desire to help, I’m very excited to share more about what I’ve been working on in 2024. Even if it means giving up my 10-bagger in Pro Medicus.
Plus, with all of the high conviction stock and ETF coverage to come within Rask Invest (and here), I doubt this is the last time I’ll see Pro Medicus and Xero in my portfolio.
If you’re interested in a professionally managed portfolio that is transparent, easy to use, long-term focused and diversified, register your interest to join me inside Rask Invest.
Update October 27th: You can ask me any questions you want by joining in the discussion here.
Best,
Owen Rask
Chief Investment Officer, Rask Invest
P.S. I’ll likely sell my Pro Medicus and Xero shares in the next 7 days to be ready to add some cash to the portfolios.
P.P.S. The full team (beyond what’s shown on that page) will be announced and revealed soon.
