We advised in our email update that we were selling the Brazin shares we held in our growth and income portfolios.

As you can see from the table below, we have chosen to hang on to the cash in the growth portfolio. We'll wait until we collect a couple of forthcoming dividends and then re-invest the lot.

As for the income portfolio, we've re-deployed the proceeds straight away by adding more Miller's Retail and Telstra shares.

We've also made some substantial changes to our ethical portfolio, including selling our entire stakes in Novogen, Cochlear and Pacific Hydro .

This portfolio has been somewhat neglected of late but we'll be putting that right next issue with an explanation of what we're buying with the proceeds from the recent sales.