Large monash

Monash Investors Pty Limited

In 2012, Monash was established by two of Australia’s most experienced fund managers in Simon Shields, the previous head of equities at both UBS and CFS, and Shane Fitzgerald, a Top 5 rated analyst from UBS and JPMorgan. The firm was set up to manage money in a way that both Simon and Shane felt was simply smarter than riding the share market up and down, instead, attempting to achieve positive absolute returns of between 12-15% p.a. after fees, over a full investment cycle, and to avoid loss in any financial year. In order to achieve these objectives, the Monash strategy is benchmark unaware, style and stock size agnostic, and is both long and short. In keeping with the absolute return objectives, if the team cannot find stocks that meet its very high return hurdle requirements, they will preserve capital in cash at bank, waiting patiently until they emerge.

A cyclical stock on its way back up

Monash Investors Pty Limited

Emeco leases heavy earthmoving equipment to mining companies and their contractors. It is the largest company of its type in Australia. With mining activity beginning to pick up again, the demand for “yellow” trucks, diggers and dozers is picking up. Show More

ASX:EHL August 2017 Reporting Season

Catapult primed for significant growth

Monash Investors Pty Limited

After returning home from a recent trip to the US, Simon Shields, Portfolio Manager, reflects on the significant growth opportunities for a Melbourne based company that’s leading the way in athlete analytics for some of the most elite sporting dynasties in the world. Show More

ASX:CAT

Paragon Care looks particularly cheap now

Monash Investors Pty Limited

Paragon Care (PGC) is a supplier of medical equipment and consumables to Australian hospitals and aged care centres. It reported on Monday 7 August. Organic sales growth grew 15% for the year with acquisition growth adding another 10% to sales. At the same time EBITDA margins have been expanding with... Show More

paragon care ASX:PGC

ASX Small Cap capitalising on US growth

Monash Investors Pty Limited

One of the key aspects to any overseas trip is to gain from the perspective of local management, not only to gauge the growth prospects within the domestic market, but to also assess any flow-on effects for Australia. After returning from a recent trip to the U.S, we realised the... Show More

ASX:EML

Standout visit from our recent US trip: Micro-X

Monash Investors Pty Limited

Earlier this month I spent a week in the US visiting some of the overseas operations of Australian listed businesses held in the portfolios we manage - both long and short. A thorough understanding of a business, and the challenges and opportunities it faces, is vital to checking the assumptions... Show More

ASX:MX1

One small cap retail stock that we like

Monash Investors Pty Limited

When it comes to the assumptions that drive our price targets, there are three things we look for, so we can provide a buffer against a volatile market. We discuss these below and illustrate them with a small cap stock we like within the retail sector. Show More

ASX:LOV

Buy Hold Sell: 5 stocks riding demographic trends

Monash Investors Pty Limited

There aren’t many things that are certain in investing, but demographics can generally be relied upon with some degree of certainty. We may not know how much demand there will be for a particular commodity in two years’ time, but we can say with some confidence how many people will... Show More

Quality small-caps battling the headwinds

Monash Investors Pty Limited

Out of the top 12 companies held by the Monash Absolute Investment Fund, 7 beat analyst earnings expectations during the recent reporting season. However, the headwind against smaller growth companies that started in October continues. So despite a “good” results season, the fund went backwards. Show More

The Monash four-point valuation checklist

Monash Investors Pty Limited

The single best way to generate strong returns is to identify stocks that are trading a long way from their fair price. This not only generates better results, but also creates a margin of safety that helps us hit our 80% success rate benchmark. As our objective at Monash Investors... Show More

How to target a double-digit return

Monash Investors Pty Limited

Simon Shields, Principal at Monash Investors shares his thoughts on equity markets valuations, the market cycle, and four market thematics he likes such as medical devices, payment systems, demographics and tourism. Simon also touches on some key stocks in the Monash portfolio positioned to leverage these four thematics. He also... Show More

How to read between the lines of company guidance

Monash Investors Pty Limited

Reading between the lines of company guidance can reveal a great deal, explains Simon Shields, Principal at Monash Investors. “Ardent Leisure’s Main Event business in the United States provides family entertainment centres with bowling, rock climbing, etc. Ardent bought this business when there were only five centres in Texas and... Show More

Lovisa – long runway of store roll out opportunities

Monash Investors Pty Limited

At Monash Investors we look for recurring situations and patterns of behaviour to help inform our investment decisions. One situation is the drive by Boards and Management to exploit high returning opportunities in their core business. In the world of retailing new store roll outs can be a powerful driver... Show More

lovisa Longform ASX:LOV Monash Investors

Kogan a standout in a difficult sector

Monash Investors Pty Limited

Internet retailing has been one part of the market that has taken a bit of a beating lately. For example: Surfstitch, Temple & Webster and AHA Life. We did not invest in any of these. So it was good to see a company in which we did invest, Kogan, beat... Show More

ASX:SRF ASX:MA1 ASX:KGN ASX:AHA ASX:TPW

A massive market opportunity for Impedimed

Monash Investors Pty Limited

Impedimed is a medical devices company that produces electronic devices capable of measuring the level of fluid in the human body, explains Shane Fitzgerald, Principal at Monash Investors. Their primary product, L-Dex, allows for the early detection of an otherwise incurable condition called Lymphedema, which affects cancer patients after treatment.... Show More

biotech medical device ASX:IPD

How we protect our investors’ capital

Monash Investors Pty Limited

Shane Fitzgerald, Principal at Monash Investors, says that the most important strategy they use to protect their investors’ capital is “setting a really high hurdle” on the investments they make. “We are looking for ’slam-dunk’ investments.” While having these high standards may result in missed opportunities, it gives the portfolio... Show More

capital protection investment strategy

Emerchants’ UK expansion unaffected by Brexit

Monash Investors Pty Limited

Shane Fitzgerald, Principal at Monash Investors, says that Emerchants’ has stable banking relationships with it’s UK & European banks that should be unaffected by the political uncertainty in the UK. Instead, he sees their expansion into the UK markets as an underappreciated opportunity. Based purely on the Australian operations, Emerchants... Show More

ASX:EML

Catapult takes the next step to become global leader

Monash Investors Pty Limited

Shane Fitzgerald, Principal at Monash Investors, says that Catapult has only just “scraped the surface” so far in penetrating the market of elite sportspeople. Catapult currently has around 5-8% market share currently, but he think it’s possible they could achieve up to 50% in the future. Catapult recently acquired US-based... Show More

ASX:CAT

Buy Hold Sell: Defensives – CCP, DUE, WOW

Monash Investors Pty Limited

In uncertain times investors turn to companies with reliable earnings that can weather the storm. However, earnings certainty often commands a premium price and as we have seen, even the most defensives stocks can be disrupted. In this episode of Buy Hold Sell we look at three companies that have... Show More

ASX:CTX ASX:CCP ASX:DUE ASX:GEM ASX:WOW

IPOs: Risk or opportunity?

Monash Investors Pty Limited

Initial Public Offerings of shares; love them or hate them, they are an essential part of a functioning share market. On one side of the fence, we have the naysayers, with warnings that private equity sellers and business owners will always know more than investors. On the other side, we... Show More

ipos buy hold sell guvera ASX:SSG ASX:KGN

Even the rugby can’t save Sky TV

Monash Investors Pty Limited

Simon Shields, Principal at Monash Investors, knew there was something wrong at Sky Network TV (which is listed on both the ASX and NZX) when they posted their first fall in subscriber numbers in 20 years. Upon investigation, they found that NZ brokers were hesitant to say anything negative about... Show More

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