"As soon as you start to get comfortable in a particular stock or company, we're generally selling and finding the next uncomfortable thing to own." That’s the contrarian nature that exists at Allan Gray and is reinforced by their fund managers. In the latest instalment of our Fund Manager Q&A,... Show More

You rarely hear value investors espousing small-cap biotech stocks, given their typically binary outcomes make the risk profile totally unsuitable. However, what we learned in this recent interview was that the stock discussed does not have the usual biotech risk profile. When we spoke with Michael Goldberg, Managing Director at Collins... Show More

Amid rising market volatility and increasing global uncertainty it makes sense for investors to prepare themselves to take a more active approach, which is one of the goals of an objective-based portfolio. But what matters the most once the constraints are removed is to be conscious about not simply adding... Show More

WiseTech, Appen, Afterpay, Altium and Xero (WAAAX) are up just over five-fold over the last two years, pushing the aggregate market cap to over $28 billion. Some of the valuation metrics are now laughable. However... the same thing was also true two years ago before this rally commenced. So where... Show More

Five years of price consolidation, a possible bottoming of the housing market, and the unexpected return of the coalition government have mitigated some of the key risks for Australia’s big banks. But has the situation improved enough for the banks to be included in a defensive equity portfolio? Aaron Binsted... Show More

There are some wonderfully innovative and disruptive companies in the tech sector, but investors should always be aware that hype and momentum can drive company valuations and equity markets further than may be warranted – a valuable lesson learned by those who remember the heady days preceding the dotcom crash.Fast... Show More

The search for income is no easy task in a world of low rates. And while many investors, particularly those nearing or in retirement, may skew their portfolio towards more familiar asset classes such as dividend-paying blue chips, they may not be aware that global high-yield bonds represent an exciting... Show More

Fixed-income investors currently find themselves in a low-yield world and it looks like this will be the case for some time. Given this environment, it will be important for investors to seek income from safe, defensive assets. For Jay Sivapalan at Janus Henderson Investors, this means good-quality, investment-grade companies.And in... Show More

The VGI Partners Global Investments Limited (ASX:VG1) pro-rata renounceable Entitlement Offer will close at 5:00pm (AEST) on Thursday, 6 June 2019.VG1 shareholders who take up their VG1 entitlements also have the opportunity to participate in the concurrent IPO of VGI Partners Limited, the Manager of VG1.If you would like to... Show More

2018 was tough for most asset classes with the blowtorch being applied in the final quarter of the year. While markets have rebounded in 2019 the volatility provided a good stress test for portfolios. One asset class that proved to be resilient was high-yield credit. Vivek Bommi from Neuberger Berman... Show More