Key themes creating opportunities

Perpetual Equity Investment Company

The Perpetual Equity Investment Company Limited (ASX: PIC) recently announced a capital raising via a three-stage offer to new and existing investors. In our latest investor update, Company Chairman Nancy Fox and Portfolio Manager Vince Pezzullo provide current and prospective shareholders with an overview of the FY18 results, their views... Show More

40 global stocks hand-picked for you by Perpetual

Perpetual Equity Investment Company

Perpetual’s Global Equities team are “true to label” value stock pickers. They use a tried-and-tested methodology, developed at Perpetual over 50 years, to uncover companies with the greatest long-term potential. Garry Laurence, Portfolio Manager, says “As an active, value manager, with a bottom-up investment process, we do not attempt to... Show More

Skamvougeras: 6 market insights for Livewire readers

Perpetual Equity Investment Company

Is Amazon a threat to Woolworths? Can active managers deliver value in large-cap shares? And where are the most defensive earnings on the ASX? Following our quarterly investor update, Perpetual's Head of Equities, Paul Skamvougeras, answered a range of questions from Livewire's editors on current market issues. Show More

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Enero Group: A global media company

Perpetual Equity Investment Company

In the Perpetual Pure Microcap Fund monthly investor update, we profile Enero Group, which is a global media services and advertising company. They operate 10 businesses and their key brands include Hotwire, Frank PR, Naked and BMF. Management are conservatively building scale across 3 key areas; Strategy and Research, Creative... Show More

Mitula: A clear strategy to drive value for shareholders

Perpetual Equity Investment Company

Mitula is a ‘vertical search’ website operator that aggregates online classifieds, providing users with the ability to obtain search results from multiple advertisers with one search query. The current portfolio includes over 170 websites in 45 countries and offers four primary verticals: real estate, employment, vehicle sales and fashion. Mitula... Show More

Balance your desire for returns with risk management

Perpetual Equity Investment Company

Perpetual’s Diversified Real Return Fund offers investors a compelling combination of intelligent diversification, downside protection and access to a broad set of global investment opportunities. All with an unwavering focus that targets a return of 5% p.a. above inflation, over rolling 5-year periods, before tax and fees. Michael O’Dea, Head... Show More

Decimal to Digital: Lessons from 50 years of investing in Australian shares

Perpetual Equity Investment Company

The 50-year history of Perpetual’s Industrial Share Fund tells its own story about Australia. It’s one of change and turmoil … but also one of ever-growing prosperity. Above all, it’s a story of the life-changing rewards that investors can reap from investing in Australia through patience and an active, questioning... Show More

Why active management works in Australia

Perpetual Equity Investment Company

Whether or not active managers add value after fees, over the full economic cycle, has been a widely contested topic in investment circles for many decades. However, as we illustrate in the report below, the fact is that active management works in Australia. The average active manager surveyed outperformed the... Show More

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The bull thesis on Woolworths

Perpetual Equity Investment Company

Woolworths is "long on assets and short on market cap," says Vince Pezzullo, Portfolio Manager, Perpetual Equity Investment Company (ASX:PIC). PIC started accumulating shares late last year and picked up the buying following first half results. Pezzullo believes management have shifted their focus from sales growth to efficiency, with sales-per-square-meter... Show More

Hi Patrick. The beauty about a typical disruptor company is the fact that being profitable is not a short term goal. They are typically driven by taking market share and then worrying about profitability later. Part of Perpetual’s rigorous process involves only investing in profitable companies. This results in us investing in more established and less speculative companies. Therefore, investing in the disruptor can be difficult. I believe it is important to analyse the potential materiality on earnings of disrupted companies before the rest of the market truly understands it. That way you can sell existing positions in your portfolio or generate alpha shorting stocks which could potentially be disrupted before this trend becomes obvious to the broader market.

On The Uber effect -