The current state of energy markets

Alphinity Investment Management

In September, I conducted four days of energy-related meetings in Dallas and Houston. The goal was to review current industry conditions and the production outlook for 2017. I met with majors (BP, Shell, BHP), large US shale producers (Range, Anadarko, EOG, Apache), services companies (CBI, Schlumberger, Halliburton), US LNG producers/projects... Show More

How to position for a changing market

Alphinity Investment Management

The August FY16 reporting season as usual provided winners and losers. While we are likely to do some portfolio adjustments as a result of the new information released with company results, the most important question in coming months will most likely be how to position for a potentially changing macro... Show More

What makes a defensive company?

Alphinity Investment Management

The heightened market uncertainty in our view warrants a defensive portfolio positioning. This, however, begs the question – what is a defensive company in today’s market? The valuation dispersion between stable or growing companies and more cyclically-exposed companies is now the highest since the financial crisis (see chart). So is... Show More

A change in trend for Telstra’s earnings?

Alphinity Investment Management

Bruce Smith, Portfolio Manager at Alphinity, highlights the relatively strong performance of Telstra shares amidst the recent market volatility. Smith says the consistent earnings upgrade cycle since 2011 has been a significant contributing factor to the strong performance of Telstra shares. The combined effect of earnings upgrades and multiple expansion... Show More

Companies exposed to Australia's housing market will continue to gather momentum, as effects of low interest rates, the pick-up in building approvals and net...

Alphinity Investment Management

Companies exposed to Australia's housing market will continue to gather momentum, as effects of low interest rates, the pick-up in building approvals and net immigration are felt across the industry. Investors can expect activity in housing markets to continue to strengthen. Principal and Lead Portfolio Manager Mr Carlberg said: We... Show More

Andrew Martin, Portfolio Manager at Alphinity, argues that although banks might be considered fair-value - investors could be underestimating the effect of...

Alphinity Investment Management

Andrew Martin, Portfolio Manager at Alphinity, argues that although banks might be considered fair-value - investors could be underestimating the effect of increased competition, which has surged since the GFC. For a long time coming out of the GFC the banks had very little competition at all, so they took... Show More

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