Equities
David Poppenbeek

Over recent times Westpac Bank (WBC) has been underperforming the Australian equity market; since 2015, WBC’s share price has fallen 30% whereas the ASX200 has gained 3%. The poor performance period coincides with APRA’s release in 2014 of APG 223 - Guidelines for Residential Mortgage Lending. Show More

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Financial services have been making headlines for all the wrong reasons in recent weeks. Following Rowena “Shock and” Orr’s public shellacking of the wealth management industry, AMP Limited has since lost almost its entire board of directors, as well as a big part of the executive team. The banks were... Show More

David Poppenbeek

Despite the prevailing conditions, it is our view that the Australian small business landscape is adapting to the rationing of bank capital. Remarkably, last year there were more than 250,000 new Australian businesses formed, and there are now over 2.5 million Australian registered companies. Show More

David Poppenbeek

In our view the major Australian banks offer very little valuation upside. In fact we are becoming increasingly concerned that Australian banks are collectively embracing the view that inflation will stay lower for longer, that mortgage serviceability will be at least maintained over the medium term and that property investments... Show More

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In this final installment of our reporting season series, we once again asked some of Australia’s leading fund managers to highlight the standout earnings result this week. After punching in strong numbers that converted to an 8% jump in dividends, QBE received votes from both K2 and Atlas Funds. Perennial... Show More

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