Avoca Investment Management

Avoca Investment Management was established in 2011 by John Campbell and Jeremy Bendeich in partnership with Bennelong Funds Management. The team is focused on capital preservation through prudent, long-term investment in emerging leaders.

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The winners and losers from rising growth

Avoca Investment Management

During the month of January, equity investors showed little apparent concern for value. As we write this report, the market is becoming increasingly concerned with nascent inflationary signs and rising interest rates. The momentum of investor fuelled, low volatility / low interest rate trade that has grossly inflated pockets of... Show More

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The highest-priced maturing SaaS name in the world?

Avoca Investment Management

A consensus is building in markets around global economic expansion, QE curtailment and an upward trajectory in rates. The OECD’s September 2017 outlook statement described it as “a synchronised short-term global upturn” with the recovery being “broad-based”. Show More

ASX:WTC Growth vs Value

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Reasons for caution on housing exposure

Avoca Investment Management

The Australian housing sector is critical for both the economy and stock market. New dwelling construction and renovations create jobs and rising house prices creates wealth, which then flows into retail and other consumer-facing sectors. Importantly, new housing activity has tended to run counter-cyclical to the resource CapEx cycle, dropping... Show More

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Four hot roll-ups we are avoiding

Avoca Investment Management

Everyone loves a roll-up: Buy assets on a lower multiple to the one that you currently trade on and grow EPS. It’s as simple as that. Often the strategy doesn’t even require synergies to make it work. It can work whether or not the underlying market is exhibiting growth. If... Show More

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The end of momentum

Avoca Investment Management

In the podcast below, Jeremy Bendeich, Chief Investment Officer and Portfolio Manager at Avoca Investment Management discusses his overall impressions and trends for the reporting season. He discusses the following six key points: Show More

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The growth stocks vulnerable to a selloff in 2017

Avoca Investment Management

Back in February 2016, Jeremy Bendeich from Avoca Investment Management shared his list of stocks that were vulnerable to earnings misses, which formed a handy acronym - ‘BITBAD’. Blackmores, IPH, TPG, Bellamy’s, A2 Milk, and Domino’s Pizza. Since then, four of the six are down more than 20%. A simple... Show More

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