Value the market loves to hate

UBS Asset Management

Below we discuss 3 high conviction undervalued opportunities which we believe are fairly unique holdings particularly together in the same portfolio. All are cheap according to our conservative, sensitivity tested and mid-cycle anchored DCF. In addition, we believe fundamental industry economic risks are to the upside. Show More

Microcaps – Long term capital growth

UBS Asset Management

Most investors have some exposure to Australia's largest listed companies in their portfolio. The dividend yield on offer combined with exposure to well-known franchises provides a level of comfort and stability to the core component of a portfolio. However, our domestic stock market is concentrated around key industry segments –... Show More

Link Group ticking a lot of boxes

UBS Asset Management

Link Group has been listed for less than two years, but it is a business we have watched closely and have used a recent period of weakness to build a significant stake. It's also not well covered by brokers, with Factset showing 5 covering Link against 16 covering the similar... Show More

Politics, policy and market developments

UBS Asset Management

Volatility in fixed income markets has subsided somewhat this week as the events and implications are being processed. We have more information but definitely not clarity around possible policy pathways and some people who may be executing president-elect Trump’s ‘vision’. We’ve collected some of our current thoughts on the situation. Show More

Aussie Dollar gets Trumped

UBS Asset Management

Commonwealth Bank's Foreign Exchange Strategy team released their outlook should Trump become President. They analysed his economic policies and deduced that Trump’s economic policies are very inflationary, given large income and company tax cuts, government spending and tariffs. They believe US bond yields and the US equity market will lift... Show More

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