Andrew Mitchell

Andrew has over 15 years’ experience in portfolio management of listed companies, stockbroking and economic analysis. Prior to co-founding Ophir, Andrew worked from 2007 to 2011 as a portfolio manager at Paradice Investment Management.

Expertise

NZ tech punching above its weight

Andrew Mitchell

Some wonderful examples of entrepreneurial drive and global innovation can be found in the burgeoning New Zealand startup community and emerging listed companies. Here we share our thoughts on the scene following a recent trip, and update on Xero as well as an earlier-stage NZ tech success story. Show More

ASX:XRO ASX:PPH this time last year rocket labs

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Protecting portfolios through market downturns

Andrew Mitchell

One important thing for investors to think about is how to ensure that the portfolios can be meaningfully protected through inevitable periods of downturn and ensure you remain well positioned to participate in the resultant recovery. In this wire, we discuss five key ways to achieve this. Show More

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Fallen angels and upside surprises

Andrew Mitchell

While the month-end reports for February will indicate the ASX Small Ordinaries finished the February reporting period dead flat, it would be difficult to find any smaller cap investors this month that would summarise the reporting period as dreary. Show More

a2 Milk: What the market missed

Andrew Mitchell

The acceleration of growth in China for A2’s infant milk formula products is very impressive. They now have just over 5% market share of the Chinese infant formula market. Remember the total Chinese infant milk formula market is approximately $20bn in size, with a number of incumbents sitting around the... Show More

ASX:A2M Ophir Asset Management What the market missed

How we are thinking about the year ahead

Andrew Mitchell

At this time of year, it's only natural to spend some additional time reviewing broader market expectations for the year ahead and how that might impact current portfolio positioning or expected returns for Australian small and mid-cap investors going forward. We certainly enter the 2018 year at an interesting point... Show More

australian small caps 2018 outlook Macro thoughts

3 key risks facing growth stocks

Andrew Mitchell

With high quality, growth-focused Australian small cap businesses enjoying a stellar run of recent outperformance, this month we have shared with investors some thoughts on macro risk identification and how our portfolios are currently positioned should we see an unexpected shift in the current investment climate. Show More

Small-caps and mid-caps riding global growth

Andrew Mitchell

Australian small and mid-cap companies are perhaps not the first port of call in an investors mind when considering avenues to gain exposure to international growth opportunities. Yet the sector at present offers investors a multitude of companies with leveraged exposure to the growth in offshore markets, a function that... Show More

ASX:PMV ASX:WEB

From Xero to Hero

Andrew Mitchell

Xero is by no means an up-and-comer in the fintech space, nor an undiscovered gem. At NZ$3.7bn market cap, the business already sits on the radar of many growth investors. While the business has enjoyed fairly spectacular early success, the inherent growth still available remains an attractive proposition to us. Show More

xero ASX:XRO Ophir

The Age of Disruption and The Business of Funds Management

Andrew Mitchell

We spend an enormous amount of time each year continually analysing and reviewing our portfolio holdings to identify the potential opportunities and threats that can emerge as a result of structural change. We often forget, however, that as the sole directors and shareholders in Ophir Asset Management, we ourselves are... Show More

disruption ASX:MFG ASX:PNI

Share prices and reality: 2 high quality oversold businesses

Andrew Mitchell

With the advent of the 24-hour news cycle, live pricing feeds and an endless stream of news and stock market analysis, a widely held view is markets become more efficient as more information becomes freely available. Here we argue this is not always the case, and look at two growth... Show More

ASX:NXT ASX:WEB

PMV: Delivering growth in a soft environment

Andrew Mitchell

The shake out of some of the larger cap money from the small cap space through the back end of 2016, came primarily on the view that the reflation trade had taken hold and resources and cyclical-type businesses were now back in favour. The market sold good quality, highly cash... Show More

ASX:PMV

Amazon's effect on the retail sector

Andrew Mitchell

As smaller company investors, we are relatively accustomed to seeing rapid growth from new businesses that have identified a new market or way to disrupt a lazy incumbent. The rapid growth and domination of new companies and business models at the mega-cap end of the market, however, is an entirely... Show More

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China Research Trip: How are the China consumer stocks travelling?

Andrew Mitchell

2017 has already has been a stellar year for Chinese equities, with the MSCI China Index now +14.5% since January 1st, ranking it as one of the best starts to a calendar year for any world equity index since the GFC. The strength in a number of the China consumer... Show More

China ASX:BKL asx:bwx ASX:A2M Ophir Asset Management ASX: BAL

Three Small caps that delivered on growth

Andrew Mitchell

The recent ASX reporting season was a true "stock pickers" period, where the bulk of performance came from not only owning the right businesses, but avoiding those names that were unable to deliver on expectations. Show More

ASX:BRG ASX:SUL ASX:HLO Ophir Asset Management HLO

Tasmanian salmon: A fishy business.

Andrew Mitchell

One of the real pleasures of investing within the emerging companies space is the ever-evolving variety of businesses and industries we come across in our constant search for new ideas to allocate our investor capital. Where businesses inside the Top 50 are generally well established in industries that are well... Show More

Longform huon aquaculture ASX:TGR ASX:HUO food and ag

When the Macro Matters

Andrew Mitchell

Despite the optimism, we enter the 2017 year with a number of uncertainties. Global equity markets have moved quickly to anticipate the return of global growth and an end to the deflationary ‘lower for longer’ central bank interest rate cycle of the past 7 years. US equity markets (Dow Jones,... Show More

China macro investment strategy Longform

High quality opportunities are emerging

Andrew Mitchell

While equity markets globally have mostly celebrated the Trump rally, investors within Australian smaller and mid-cap growth companies have not felt so enthused. Continued fund flow rotation back towards larger cap Financials and Resources coupled with a weaker end to the AGM season has seen some fairly dramatic downgrades and... Show More

downgrades ASX:SIQ Longform Smart Group Ophir Asset Management

ASG Group - Early vision delivers returns to shareholders

Andrew Mitchell

ASG Group (ASZ) is an IT managed services provider, with clients ranging from large corporates to Federal and State government departments. Managing Director Geoff Lewis in 2012 recognised early the potential disruptive threat from the introduction of cloud services as customers began to move their IT infrastructure into the cloud.... Show More

Smartgroup a strong performer

Andrew Mitchell

Smartgroup (SIQ) provides salary packaging and novated leasing services to employees of government departments, charities and Australian companies. Ophir is attracted to SIQ because of its strong track record of organic growth and the stickiness of its contracts. The salary packaging industry has traditionally grown by organisations outsourcing their salary... Show More

Small Caps Smartgroup ASX:SIQ ASX:MMS Salary Packaging

Exciting growth for Eclipx (ECX)

Andrew Mitchell

Eclipx Group (ECX) supplies, finances and manages nearly 80,000 vehicles on behalf of corporate customers and consumers in Australia and New Zealand. The company recently listed in April 2015 following the appointment of a new management team and the acquisition of two highly complementary businesses, FleetPlus and CarLoans. Ophir... Show More

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