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
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. Show More
Global markets are moving from deflation and low rates to an inflation and rate rising environment. Recovering economies will deliver growth while struggling economies will see capital outflows. The changing global dynamics will continue to push investors towards a better equilibrium between growth and yield. We see this transition driving... Show More
Global markets are beginning to digest the stretched valuations, high yields and strong currency ahead of the US Fed meeting. The aggregate policy outlook from the new administration is expected to push up inflation and debt in the process of raising growth. The inflation rally since October has been running... Show More
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
Global markets are moving past US Fed and US election worries as the US reporting season starts to test stretched multiples. A recent bond squeeze has delivered a bounce in yields, whilst a medium to long term outlook suggests that bond yields will settle in the slightly higher range from... Show More
Global markets are currently going through the cyclical September pullback on heightened macro concerns. Markets may start to worry about the patches of weakness in US economic growth ahead of the Presidential election. We maintain the view that the US Fed will only move in December and the move will... Show More
Slowing global growth and central bank actions are expected to keep interest rates lower for longer. Investors are being pushed into high yielding equities to cater for the rising cost and falling yield environment. We continue to favour an investment strategy mix of growth and yield as markets are trading... Show More
Macro Outlook: Central bank support and weak fiscal reform expected to keep growth and interest rates lower for longer. We continue to favour an investment strategy with a growth outlook that supports a yield premium to bonds as the market moves into the reporting season. GARY (Growth At Reasonable Yield)... Show More
Central bank support outlook has seen the market start to stabilise after Brexit worries drove profit taking. GARY (Growth At Reasonable Yield) stocks were not immune to the Brexit selloff as markets moved to reduce risk in low growth outlook. More uncertainty in Europe and Japan will keep the US... Show More
Central bank currency wars, political election cycles and corporate survival mode will continue to put downward pressure on growth rates and interest rates. New RBA governor, Philip Lowe is likely to inherit an economy at the early stages of the new rate cut cycle to fight deflation. The Federal Budget... Show More
GARY (Growth At Reasonable Yield) screen allows us to pick stocks with good yield, good growth and cheap value multiples compared to the overall historical market trend. Resources and related Service stocks carry higher risk due to global growth worries while Property related stocks carry the bubble risk. Show More
The Australian equity market’s sustainable dividend yield will attract investors in an environment of low rates and low growth. The GARY approach allows the investor to get the exposure to recovering growth with the protection of the yield thematic. Show More
We remain bullish long term while expected short term January profit taking remains after late December rally. US Fed raising rates strengthened the USD and forced China to devaluate the Yuan with the slowing economy. The devaluation of the Yuan has started the rebalancing of manufacturing away from US, Germany... Show More
We maintain our bullish long term view while the rise in US interest rate will deliver short term volatility. A recovering global macro, low interest rate environment, falling currency, lower commodity prices, potential stimulus from Europe/China/Japan and domestic rate cuts with weaker economy will help drive domestic equity markets higher.... Show More
Aussie market was directionless with US being closed and gave up the early slight optimism to finish slightly in the red. The market today is best explained through two stocks on either end of sentiment spectrum. SGH has had its life beaten out of it for what market sees as... Show More
We maintain our bullish long term view while the US interest rate cycle will deliver short term volatility. A recovering global macro, low interest rate environment, falling currency, lower commodity prices, potential stimulus from Europe/China/Japan and domestic rate cuts with weaker economy will help drive domestic equity markets higher. As... Show More
GARY (Growth At Reasonable Yield) screen allows us to pick stocks with good yield, good growth and cheap value multiples compared to the overall historical market trend. Resources and related Services carry higher risk due to global growth worries. Show More
We maintain a bullish long term view while short term volatility offers cheaper GARY stocks. Falling growth outlook, slowing China and US Fed holding interest rate cycle will drive market towards yield while growth will be hard to find. The disparity between the fiscal and monetary policy settings as well... Show More
We maintain a bullish long term view on the Australian equity market to reach 6500 in 2016 due to the sustainable high dividend yield outlook in a low growth and low interest rate environment. We continue to back quality companies with better growth and dividend yield outlook than bond yield... Show More