Equities
Key insights Global emerging markets have provided very strong returns for long term investors. However, investors have to be prepared to accept higher volatility over shorter periods of 3 years and less. Significant performance dispersions across regions, countries, sectors and styles factors provide substantial opportunities for active managers. Smart-beta or factor strategies have delivered... Show More
Macro
The week ahead in Australia will no doubt be dominated – at least for those not more enthralled by Eurovision - by the outcome of the election which has seen the Coalition returned probably with a majority or as a minority.While there will no doubt be much debate about the... Show More
Fund Manager Q&A
It's not everyday that you discover a fund with truly eye catching performance. When I recently pulled up the track record of the Cooper Investors Asian Tiger Fund, the numbers jumped off the screen. Qiao Ma is the Portfolio Manager responsible for this fund and will be presenting her top... Show More
Daily Report
A bullish open for the local market this morning as traders pushed stocks sharply higher into an early top just below 6400, however that was the best of it as sellers emerged from the woodwork – the mkt closing about 35points from the early highs. However, the composition of the... Show More
Macro
An inverted US yield curve has successfully predicted every US recession in the last 60 years. No wonder we have been fielding questions about what a flattening, or inverted, yield curve means for the mining sector. A recession should be bad news for a sector so inextricably tied to economic... Show More
Macro
I’m writing to you from New York following a week of meetings with companies, investment banks, analysts, strategists, fund managers and executives.The timing of the trip coincided with a bout of heavy volatility breaking out on Wall Street, largely as a result of the trade dispute. It’s helpful to be... Show More
Fixed Income
Today I argue that Australia is behaving like the indulgent and entitled child of a billionaire, quote my own 8 year old's analysis of what the two political parties have to offer (even I was surprised), and explain why we are not residential-mortgage-backed securities (RMBS) haters and arguably one of... Show More
Equities
Australia’s four major banks have now reported their interim results. Common to all of them were three key themes, which are presenting both challenges and opportunities. Generating any revenue growth is becoming increasingly challenging Once one-off remediation and profits on sale of businesses are stripped out, revenue growth for Australia New Zealand... Show More
Equities
In a wire I published with Livewire on the 6th March 2018, ‘Don't buy value just for value's sake’, we outlined as our top pick a company called IDP Education (ASX: IEL). Since then, fortunately for clients, the share price has had a meteoric 122% price gain from $7.55 to... Show More
Equities
Over the past 18 months, we have demonstrated a higher allocation to large cap Australian securities in line with the view that in many cases large cap stocks currently represent better value relative to small or mid cap stocks. Small and mid-cap stocks have rallied considerably, and we believe... Show More