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

Equity markets tend to be an insightful gauge for investor and business leader confidence. So given that the average major equity market has more than doubled in value since early 2009, you would have thought that investors and the management of listed companies would be brimming with confidence. Unfortunately this... Show More

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

For the year to December 2016, QBE Insurance grew its profit by 23%. The group delivered its highest return on average shareholder’s funds in 6 years and increased the A$ dividend per share by 8%. It would appear that 2016 could be the turning point in QBE’s fortunes. Show More