GARY (Growth At Reasonable Yield) > April 2017 Update

Mathan Somasundaram

GARY identifies companies that are able to deliver growth and yield at a reasonable cost. GARY offers a middle ground when uncertain markets flip flop between growth and yield. Predominantly small cap oriented GARY underperformed over the past month as large caps on stretched multiples continued to outperform. Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Market had another cracker day to deliver two consecutive days of above 1% return…last time we had that was in April. The market was on fire once again and it was mainly drive by resources with banks helping out. It is going be interesting to see the US market tonight... Show More

GARY - Growth At Reasonable Yield | Making inflation great again

Mathan Somasundaram

Global markets are digesting the US election results while the US Fed rate hike in December hangs in the balance. The aggregate policy outlook from the new administration is expected to push up inflation and debt in the process of raising growth. Rising inflation will attract higher interest rates and... Show More

SHIELD – Sustainable High Yield | Banks back in fashion

Mathan Somasundaram

Global market worries are all about US presidential election in the short term while Italian referendum and US Fed rates cycle are the next road blocks ahead. The potential end of easing cycle locally and the rate hike in US will support the yield outlook in the Australian banking sector... Show More

July 2016: Month ahead in meetings

Avatar fallback

July has it all - AGMs (including Macquarie Group, AusNet Services, ALS - a two strike AGM as the contingent Board Spill resolution is on the AGM agenda; Programmed Maintenance Services); EGMs to remove directors (including Keybridge Capital, Condor Blanco Mines, Golden Cross Resources and today's meeting at Red Mountain... Show More

March 2016: The month ahead in meetings

Avatar fallback

Too early for the mini AGM season, the focus this month is on general meetings and a key theme is share placements. I take a look at the GMs scheduled for Tassal Group (financial assistance), Ausenco, Coppermoly, Impedimed, nearmap, Oncosil Medical, Programmed Maintenance Services. This month's note takes a look... Show More

Programmed Maintenance earnings need repairing

Wilson Asset Management

On Thursday labour hire and maintenance firm Programmed Maintenance Services (ASX: PRG) flagged a $75.0 million impairment resulting from poor performance in its marine services division. The company also downgraded expectations for overall operating earnings for its financial year ended March 31, 2016 by approximately 10%. PRG said it has... Show More

ASX:PRG impairment

Skilled and Programmed agree on merger driving significant earnings accretion

OC Funds Management

Skilled (SKE) and Programmed (PRG) have this morning agreed to a merger on enhanced terms to those previously contemplated when PRG first approached SKE at the beginning of 2015. As we stated in our OC Funds May Newsletter, we believed both parties were highly motivated to agree terms in combining... Show More

equities ASX:PRG ASX:SKE

Compelling reasons to combine Skilled Group and Programmed Group

OC Funds Management

Skilled Group (SKE) (+11.6%) outperformed during the month after it agreed to re-engage with its previously rebuffed suitor, Programmed Group (PRG). SKE and PRG operate very similar labour hire businesses and there are compelling reasons (including significant cost synergies) to combine the two companies. SKE is back at the negotiating... Show More

small caps ASX:PRG ASX:SKE