Australian Equities


Australian Equities

14APR 2019

Trump, patience, and the impact of rerating

When President Trump asked the Fed to rein in plans to push rates up, it listened. That has led us to ask many questions in terms of valuations, and if we needed to adjust our risk-free rate. We have done so, and over the coming weeks we will revisit all our holdings based on this revised number.

Australian Equities

12MAR 2019

Videos: Webconferences

05MAR 2019



13FEB 2019

Australian Equities

The realities of low growth, and life post-Hayne

Anything with a glimmer of hope for growth is now trading at premiums, but the reality is that we’re entering a low growth world and we may be here for some time. The impact of Commissioner Hayne’s royal commission is also spreading ripples.

04FEB 2019

Videos: Fund Manager Q&As

How important is the discipline in your investment process when investor emotions run high?

Any process is about replicability, and we try to look through the noise to see what the average return from a company ahead of its short-term returns. People panic over price changes, as can be seen in the relatively small decreases in property values, but buyers should be excited about the opportunity to buy more of a good company at a cheaper price.

04FEB 2019

Videos: Fund Manager Q&As

What are the implications of a market where passive has grown significantly?

There has been a huge focus on cost in investment management in recent years that has led to point where about 40% of the US market is owned by passive vehicles. People have lost sight that the job of markets is to value a company, and not just see it as a bunch of prices that move every day, and it remains the role of fundamental managers to set those prices.

04FEB 2019

Videos: Fund Manager Q&As

Three views for 2019: housing, banking and resources

Housing price normalisation has only just begun. Credit-fueled growth can’t go on forever and many people are already priced out of the market. Also, banks as an investment opportunity, while priced more reasonably now, may still need to factor in the increased bad debt risk and the more challenging regulatory environment. Another investment staple, the resources sector, may be as important this year as last.


15JAN 2019

Videos: Fund Manager Q&As

Australian Equity update with Martin Conlon

Investors have had stimuli like QE and low interest rates to help drive growth in recent years. While the US leads a small retreat of liquidity, the fundamental parts of our future, such as technology and disruption, are progressing just fine and they’re the drivers of real wealth.



12DEC 2018

Australian Equities

The truth in the rear view mirror

A harrowing November has pushed returns down across the board, but that also allows us to see some of the reality in recent mergers and acquisitions, as performance write-downs show the damage that can be wreaked on highly-valued businesses.


28NOV 2018

Investment Insights

Equities Symposium: A global view of equities

Irrespective of how we measure beginnings and endings, the current equity cycle has been the most exceptional run. Is this a siren song luring investors into the market, or should it serve as a warning? At the recent Schroders Equity Symposium in Sydney and Melbourne, attended by more than 200 advisers, we explored three views from across the equity landscape, including: the benefits of investing against the masses, how human behaviour shapes investing and Trump’s impact on global stock prices.