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NAOS Asset Management

NAOS believe ‘it is impossible to produce a superior return unless you do something different to the majority’, we find quality companies at attractive values and apply a patient, high conviction and often a contrarian investment approach to unique market sectors (Industrial focus). This investment style provides a clear competitive advantage to outperform and deliver value in the form of capital growth and income generation for our shareholders over the long term. NAOS have created an investment approach we not only believe in for our investors, but one we back ourselves, to the extent that The NAOS Investment Team are ONLY invested in the NAOS funds, creating the highest level of alignment with our shareholders.

CEO Insights from Steven Lowy, Peter Coleman & Francisco Irazusta

NAOS Asset Management
NAOS Asset Management Listed Investment Companies (LICs) ASX: NCC, ASX: NAC

“The retail industry is changing rapidly, due to technological and social changes. With an elevated level of store closures, largely amongst underperforming brands that have lost relevance with the consumer" Steven Lowy, Co-CEO, Westfield Corporation Show More

CEO Insights from Ian Narev, John Borghetti and Nick Scali

NAOS Asset Management
NAOS Asset Management Listed Investment Companies (LICs) ASX: NCC, ASX: NAC

“It’s in their [The Telco’s] interest to just flick people to the low speed plans as the lower access charge makes a higher margin for them” Nicholas Demos, CEO, MyRepublic. Below are quotes from the week which in our view detail some of the most important and prominent industry trends... Show More

Here's what we learned from leading CEOs this week

NAOS Asset Management
NAOS Asset Management Listed Investment Companies (LICs) ASX: NCC, ASX: NAC

“The smaller players saw NBN as an opportunity because they didn’t have the ability to build the infrastructure. But when the commercial model was announced they realised that the commercial model didn’t work for them and the usage-based charging is contrary to the market dynamics we see in mobile and... Show More

5 things to look for in a CEO this Reporting Season

NAOS Asset Management
NAOS Asset Management Listed Investment Companies (LICs) ASX: NCC, ASX: NAC

One of the most fundamental factors that is consistent across the majority of company success stories in the NAOS investment universe is, arguably, a high-quality leader. Simply put, no matter how good a company may appear on paper, if we are not comfortable with the CEO, we will not invest.... Show More

Join the conversation

Here's what we learned from leading CEOs this week

NAOS Asset Management
NAOS Asset Management Listed Investment Companies (LICs) ASX: NCC, ASX: NAC

As part of the NAOS investment process, we pay particular attention to the comments made by company CEO’s and business leaders in order to gain a greater understanding of the current investment environment and key trends that may be emerging. Below are quotes from the week which in our view... Show More

Here's what we learned from leading CEOs this week

NAOS Asset Management
NAOS Asset Management Listed Investment Companies (LICs) ASX: NCC, ASX: NAC

As part of the NAOS investment process, we pay particular attention to the comments made by company CEO’s and business leaders in order to gain a greater understanding of the current investment environment and key trends that may be emerging. Below are quotes from the week which in our view... Show More

Join the conversation

Here's what we learned from leading CEOs this week

NAOS Asset Management
NAOS Asset Management Listed Investment Companies (LICs) ASX: NCC, ASX: NAC

“I used to say Australia was geographically challenged, now I think it is geographically privileged because it is only one sector away from the biggest population in the world which is transforming so much. We are about to see on steroids what we saw in the early '80s with the... Show More

The Power of Valuations

NAOS Asset Management
NAOS Asset Management Listed Investment Companies (LICs) ASX: NCC, ASX: NAC

Investors often talk about the potential for companies to grow earnings and the effect this has on a company’s value over the long term. We would argue that factors which may contribute to a price earnings (P/E) multiple re-rating can be even more powerful as a valuation tool. The following... Show More

The Characteristics of a True Active Fund Manager

NAOS Asset Management
NAOS Asset Management Listed Investment Companies (LICs) ASX: NCC, ASX: NAC

There has been much debate of late about the benefits and shortfalls of active vs. passive portfolio management. This article will not highlight the benefits of either argument, but instead highlight what investors should look for in a truly active managed fund. One key point is that many fund managers... Show More

Here's what we learned from leading CEOs this week

NAOS Asset Management
NAOS Asset Management Listed Investment Companies (LICs) ASX: NCC, ASX: NAC

“Amazon will have a huge effect on Woolworths and Coles. All of us in the fresh food retail business will have to be very much more focused” Cathy Harris, Chairwoman, Harris Farm Markets Show More

CEO INSIGHTS – Week Ending 9 June 2017 by NAOS Asset Management

NAOS Asset Management
NAOS Asset Management Listed Investment Companies (LICs) ASX: NCC, ASX: NAC

“Courtesy of low interest rates and a shortage of property supply, it doesn’t feel to me as it has in other periods — that we are on the edge on a cliff’’ John McGrath, Founder, McGrath Real Estate Show More

CEO INSIGHTS – Week Ending 2 June 2017 by NAOS Asset Management

NAOS Asset Management
NAOS Asset Management Listed Investment Companies (LICs) ASX: NCC, ASX: NAC

"Backdoor listings are problem in Australia. There are some examples – Vocus is the only one people keep quoting – where it's worked. But they were a pretty big company by the time they listed, which is different than effectively backdoor listing a start-up because it can't raise money any... Show More

Quality of earnings and the flaws of the P/E Ratio

NAOS Asset Management
NAOS Asset Management Listed Investment Companies (LICs) ASX: NCC, ASX: NAC

Often when analysts and market commentators talk about valuation of certain businesses, the method used is the price to earnings or P/E ratio. A price earnings ratio is calculated by dividing the current share price by the earnings per share (EPS), For example, a company trading at $1.00 per share... Show More

CEO Insights - Week Ending Friday 12/5/17 By NAOS Asset Management

NAOS Asset Management
NAOS Asset Management Listed Investment Companies (LICs) ASX: NCC, ASX: NAC

“We're now seeing discussions turn. People are talking about opening mines again that have been shut for some time. People are talking about increasing production from existing mines, opening new pits and so on” Show More

CEO INSIGHTS – Week Ending 5 May 2017 by NAOS Asset Management

NAOS Asset Management
NAOS Asset Management Listed Investment Companies (LICs) ASX: NCC, ASX: NAC

“I don’t know how TPG will roll out their network. I just know ­Telstra spends almost twice as much just maintaining the network we have. And to become a proper operator in this market you have to spend a lot more money than what TPG has allocated” Hakan Eriksson, Chief... Show More