We exited our position in IT services business, Amdocs, which had recovered from its January sell-off, since we had some concerns about the visibility into its end markets. We also took some profits in the strongly performing exchange operator, Intercontinental Exchange. The fund added to three existing holdings during August; infrastructure software company, Microsoft, Indian private bank, HDFC Bank, and Singapore listed transport services business, ComfortDelGro.
Broader positioning remains unchanged, with an ongoing bias towards higher quality, sustainable growth companies that can prosper in any near-term economic and policy-driven volatility. We continue to add to positions where we see strong underlying quality and where the market allows us to top up holdings at more attractive levels. And where appropriate, we have been building positions that offer more defensive revenue streams given the slowdown in economic growth expectations and trimming holdings that have performed strongly and offer reduced upside potential.
Sector-wise, information technology, industrials and healthcare are our main overweights. The portfolio is underweight communication services, energy and consumer staples. At the regional level, Emerging Markets and Japan are our biggest overweights, with the U.S. our largest underweight.