ASX:PIC

3 undervalued Aussie stocks

Vince Pezzullo

Today, markets are now thinking about risk rather than what’s on the upside. They’re asking, “what multiple am I paying and what am I going to get from that multiple?”. One way to protect the downside, is to make money on the buy. So, if you get a reasonable multiple,... Show More

ASX:WBC ASX:MPL ASX:SGR ASX:PIC

10 high yield LICs

Peter Rae

In its latest LMI Monthly Update, Independent Investment Research takes a look at the recent listed investment company reporting season which saw a majority of LICs report higher earnings and many pay higher dividends to their shareholders. We also highlight the top 10 yielding LICs under our coverage and discuss... Show More

Listed Managed Investments: Quarterly Review

Peter Rae

In its latest Quarterly LMI Market Review, Independent Investment Research (IIR) provides detailed coverage of 43 listed investment companies, listed investment trusts and exchange traded managed funds including commentary, investment views and ratings. We have coverage across a number of sectors and investing strategies and provide insight into performance, discounts... Show More

Change brings opportunity in the big four

Vince Pezzullo

The recent and sudden surge in market volatility in early February has highlighted the rising disconnect between the economy and markets. For some time many asset prices have been artificially inflated by trillions of dollars in monetary stimulus and ultra-low rates as central banks have tried to reignite sluggish economies. Show More

ASX:WBC ASX:PIC

Bell Potter Analyst Outlook & Top Stock Picks for 2018

Bell Potter

In this report, our analysts share their sector view and top stock picks for 2018 across sectors including banks and general insurers, diversified financials, LICs, fixed income, agricultural FMCG, technology, discretionary retail, industrials, resources, and healthcare & biotech. Show More

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LIC Outlook for 2018 – Nathan Umapathy

Bell Potter

The Listed Investment Company (LIC) sector has been one of the great success stories of the Australian Securities Exchange (ASX) in recent years. LICs have been trading on the ASX for nearly 100 years, but it is only of late that a broader range of investors have capitalised on the... Show More

ASX:MFF ASX:PAF ASX:PIC

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Markets, process and performance

Vince Pezzullo

Over the past few weeks I’ve been presenting to investors as part the Perpetual Equity Investment Company roadshow. Today I believe there are some important changes taking place in the market that have implications for the level of risk investors are taking to access equity returns. Show More

Perpetual Equity Investment Company ASX:PIC

Fletcher: Better times ahead?

Vince Pezzullo

Fletcher Building is a diversified building materials and construction company operating in over 40 countries. While the last 12 months have been challenging, we see an opportunity for significant upside over time. Show More

ASX:FBU ASX:PIC

6 months of transformational change for Bega

Vince Pezzullo

A recent addition to the portfolio, Australian dairy and foods business, Bega Cheese, was the largest single contributor to performance of the portfolio for the month of June. Over the past 6 months, Bega has seen transformational change in its business through the completion of three major transactions: Show More

ASX:PIC ASX:BGA

What’s next for our largest global position?

Vince Pezzullo

The European financial sector has offered a rare pocket of value globally, and has started to see buying in recent months. One of the largest global positions in our portfolio sits in this thematic, and has gained 27% year-to-date. In this short blog for Livewire we give an overview of... Show More

ASX:PIC ETR:DB1

Listed Managed Investments: Quarterly Review

Peter Rae

(LICs), listed investment trusts (LITs), and exchange quoted managed funds (EQMFs). At 31 January 2016, there were 96 LICs and LITs on the ASX, with a collective market capitalization of $ 31.6B. There are a number of new LICs in the pipeline including URB Investments, Contango Global Growth, Plato Income... Show More

Speed of Woolworths turnaround is surprising

Morgans Financial Limited

In this presentation, Vince Pezzullo, Deputy Head of Equities for Perpetual Equity Investment Company (PIC), reviews the portfolio including its largest position, Woolworths: “Woolworths had a decent first half. We’re actually surprised at the speed of the turnaround. It’s been quite remarkable in the space of nine months.“ He also... Show More

ASX:SUN ASX:WOW asx:skt ASX:MPL ASX:PIC

Perpetual Equity Investment Company Interim Results Presentation

Vince Pezzullo

Earlier this week I presented to investors on the half year results for the Perpetual Equity Investment Company. I also shared our views on the current investment backdrop and discussed how we are positioning the portfolio in the current environment. Show More

Sticking with the out-of-favour names in 2017

Vince Pezzullo

Growth and yield stocks have had a strong run for several years and the unwinding of this “HIPP bubble” (Health, Infra, Property … and Pizza) has only just begun in recent months, and has a long way to unwind yet. We are conscious that we may be at – or... Show More

value investing ASX:WOW ASX:PIC

Three stocks for a shifting market

Livewire Exclusive

Livewire recently asked Sean Fenton of Tribeca, Vince Pezzullo of Perpetual, and Simon Shields of Monash to share their views as to whether the trend that emerged last year, whereby growth stocks struggled and cyclicals rallied, could continue through 2017. Following on from their enlightening responses, we asked our three... Show More

Lessons from 2016’s best and worst performers

Livewire Exclusive

The lists of the best performing and worst performing stocks in the ASX200 during 2016 told a dramatic narrative of a reversal of fortunes between growth stocks and resource stocks. One month into 2017, and we have evidence of this continuing. BHP and RIO are up 11.2% and 14.4% year-to-date... Show More

IIR LIC Research Rating - Perpetual Equity Investment Company Limited (ASX: PIC)

Independent Investment Research

We have just initiated coverage on PIC. The LIC provides exposure to an actively managed concentrated portfolio primarily of ASX-listed stocks. Interestingly, It can invest up to 25% of the portfolio in internationally listed stocks, providing the Investment Manager the ability to source value in other markets if it cannot... Show More

ASX:PIC

Bell Potter LIC report: September Quarter

Bell Potter

Given that nearly 60% of the Listed Investment Companies (LICs) in our coverage have delivered strong outperformances over its benchmark over the last 10 year p.a. - we still see the compelling proposition a LIC presents in an investment portfolio. In our new LIC Quarterly, Analyst Nathan Umapathy profiles 42... Show More

How to assess a company under pressure

Perpetual Limited

When a company begins to falter, Vince Pezzullo, Portfolio Manager at Perpetual Equity Investment Company (ASX:PIC), says there are two important questions to ask. Firstly, you need to work out where we are in the business cycle. Secondly, you need to identify if a company is being disrupted, and how... Show More

ASX:WOW investment strategy ASX:PIC

Time for big caps to take some risks

Perpetual Limited

As investors have searched for yield and growth in a market where they’re increasingly difficult to find, large-cap stocks have responded by increasing payout ratios at the expense of reinvestment, says Vince Pezzullo, Portfolio Manager at Perpetual Equity Investment Company (ASX:PIC). “The problem with that strategy is that at some... Show More

dividends telstra ASX:TLS ASX:PIC