Platypus Asset Management

Platypus Asset
Management

Australian Unity Investments
Fund Manager

Platypus is a boutique fund manager that specialises in Australian equities. Platypus have a long history of outperforming the Australian market using a unique combination of fundamental analysis and quantitative techniques. Platypus is a true to label growth manager with an uncompromising focus on quality. Visit http://www.platypusassetmanagement.com.au/ for more information

Expertise

No areas of expertise

Signs appearing of better earnings environment

Platypus Asset Management

It is worth taking stock of the earnings environment for the Australian equities market following on from the August reporting season. At the end of the day, the market is only likely to perform once the earnings environment improves sustainably. We may be seeing early signs of a turn, and... Show More

earnings platypus Longform smallcaps

We’ve exited UK financials

Platypus Asset Management

The impact of Brexit will be profound on the UK’s financials sector, at least in the short-term. As we write, we have reports of large property funds ‘gating’ redemptions. We have sold our positions in CYBG Plc, Henderson Group and reduced our holding in Macquarie Group. The expectations for Henderson... Show More

the buy side brief ASX:HGG ASX:MQG ASX:CYB brexit

We’re focussed on quality and defensive attributes

Platypus Asset Management

We are of the view that Brexit is likely to be a protracted divorce through which the UK economy is likely to suffer. There is also likely to be some spillover to continental Europe. We would avoid businesses leveraged to UK GDP in the near term and be very selective... Show More

Political uncertainty to dent confidence

Platypus Asset Management

There is little doubt that political uncertainty will dent confidence at least to some extent. Economic growth globally has been stuck in slow gear since 2012, and central bankers have been pleading for reform and fiscal leadership which in the current political situation is unlikely to come to complement the... Show More

geopolitical risk the buy side brief

A small cap growing despite the market

Platypus Asset Management

"Despite the dearth of earnings growth in the market, there are still good companies trading at reasonable prices. High-quality small caps are generally growing faster than the economy at large and are typically taking market share as well. One such company is TFS Corporation – one of a few legitimate... Show More

ASX:TFC

Lessons from this reporting season

Platypus Asset Management

The February reporting season was predictably tough, as evidenced in the price action and earnings downgrades of individual stocks. For every company that made a fifty-two week high, two made an annual low. The market seemed to set the bar extremely high, severely punishing companies that disappointed, yet showing no... Show More

ASX February 2016 Reporting Season

Feels like 1994?

Platypus Asset Management

It is apparent to us that over the last five months or so we have entered a new phase: volatility has returned and unfortunately it seems that it is likely to persist for some time. The best analogue we can find for the period that we think markets are in... Show More

volatility australian equities

Wait for results before buying

Platypus Asset Management

Don Williams, Chief Investment Officer at Platypus, sees value in waiting in the current climate. "We like seeing numbers, basically; we typically wait for companies to report before we make any moves," he says. There is at least one company which has caught their eye though. "Cochlear is a good... Show More

ASX:COH

A tale of two halves on the ASX

Platypus Asset Management

Don Williams, Chief Investment Officer at Platypus Asset Management, has delivered a succinct appraisal of where he believes investment returns will come from in 2016. In his view Banks, Energy and Resources are a clear avoid as the earnings outlook for companies in these sectors remains weak. Using just a... Show More

healthcare australian equities

The biggest risk is to be holding too much cash

Platypus Asset Management

The biggest risk for Australian investors is to be holding too much cash in our view. There are several pockets of opportunity in the market as we see it. Bombed out resources companies (including BHP and RIO Tinto) will throw up worthwhile trading opportunities in calendar 2016, and M&A in... Show More

the buy side brief

Will volatility be a feature of reporting season?

Platypus Asset Management

It is hard to generalise with how stocks react to negative announcements. Recently the market has been forgiving of negative news flow, which is probably a recognition that earnings are currently hard to come by. However, we have seen some significant overreactions. In these cases, typically investor positioning is the... Show More

don williams platypus asset management the buy side brief

Earnings certainty crucial in present environment

Platypus Asset Management

Earnings certainty will be source of upside surprise in this reporting season. Market EPS estimates for FY2016 are trending down at the moment (see chart below). This implies that any company that can credibly guide to FY2016 numbers, or provide qualitative outlook that assures the market that its EPS is... Show More

australian equities the buy side brief

Signs of a broadening recovery

Platypus Asset Management

The stimulus provided by central bankers around the world following the collapse of Lehman Brothers in 2008 has been unprecedented. Bank of America Merrill Lynch data shows that 531 rate cuts have been implemented around the world since Lehman went under. There have been 28 rate cuts this calendar year... Show More

Commodity sector more interesting than it has been for years

Platypus Asset Management

Commodity sector more interesting than it has been for years. As the chart indicates Australian commodity prices are closing in on GFC levels. In our view the sector is more interesting than it has been for several years; mining companies have been at the forefront of taking cost out of... Show More

interest rates commodities

For the majority of investors the big four are the cornerstone of their portfolios

Platypus Asset Management

For the majority of investors the big four are the cornerstone of their portfolios. With a prospective earnings per share growth rate higher than the broader market (currently at a miserable 3%), and fully franked yields over 5%, there is no reason for this love affair not to continue. We... Show More

Australia equities banks smsf

For the majority of investors the big four are the cornerstone of their portfolios

Platypus Asset Management

For the majority of investors the big four are the cornerstone of their portfolios. With a prospective earnings per share growth rate higher than the broader market (currently at a miserable 3%), and fully franked yields over 5%, there is no reason for this love affair not to continue. We... Show More

banks

Key data suggests markets will continue to grind higher in 2015

Platypus Asset Management

Key data suggests markets will continue to grind higher in 2015. Though the market has traded poorly over the last six weeks, our outlook remains unchanged. As the chart illustrates, key data for the economy remains reasonably robust. Business confidence is holding most of the gains from the last twelve... Show More

Don Williams on Glen Stevens call for Animal Spirits

Platypus Asset Management

Don Williams on Glen Stevens call for Animal Spirits. Presumably the Governor is keen to see corporate Australia hit the investment switch to make his job in setting interest rates somewhat easier. Given his long career at the RBA he would understand better than most that businesses don't start investing... Show More

Australia economy

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