As our crammed buses, ailing trains and clogged roads suggest, Australian cities have failed to invest at a rate consistent with our population growth. In 1998, Sydney had a population of 3.95 million. Twenty years later that figure had increased by 33%, to 5.26m. In Melbourne the rate of growth... Show More
The Real Estate Investment Trust (REIT) sector – previously called the Listed Property Trust sector – has always been a popular sector with Australian retail investors and currently comprises 7% of the S&P/ASX 300 Index. In this lesson we discuss what we have always believed are the most important aspects... Show More
The global economy continues to show trending improvement in growth, especially in developed countries where we are seeing the strongest, most consistent growth since 2007. Many central banks are promising a slow but steady normalisation of interest rates. How does this impact property? Show More
The Asian listed property trust sector can’t be ignored. From inception in 2001, it is a sector worth around $260 billion today. With growth now twice that of the US market, and with India and China on the verge of entering the sector, this is an opportunity that will continue... Show More
This week it's a chart of US REIT ETF Assets Under Management, but basically as a prompt to talk about some previous and upcoming changes to the ubiquitous GICS system. The previous change was implemented in September 2016 and saw the new Real Estate sector split out from financials. Sure... Show More
In the context of the Sir John Templeton quote “… Bull markets are born on pessimism, grow on scepticism, mature on optimism and die of euphoria …” we are clearly still in the optimistic phase. Show More
Not really. Show More
There have been some well publicised concerns raised recently about the prospect of elevated risks across asset markets. So, Livewire went on the hunt for insights on how to remain invested in the current market, firstly asking a selection of fund managers: From your perspective is there a heightened level... Show More
Global real estate is one of nine major asset classes. However, many may not know it has ranked in the top five asset classes for 13 of the past 17 years, and should play a larger role in Australian investors’ portfolios. Unhedged global real estate has been one the best... Show More
Property has had a stellar run in the last few years; the ASX 200 A-REIT Index is up 40% over three years compared to the broader ASX 200’s 10%. Meanwhile, surging residential property prices in Melbourne and Sydney continues to cause headaches for APRA, the RBA, the Federal Government, and... Show More
In this Buy Hold Sell thematic discussion, the ‘two JB’s, Justin Braitling from Watermark and Julian Beaumont from Bennelong, discuss inflation, rates, and how important they are to equity markets. They finish by highlighting some sectors presenting opportunities, and some to stay clear of. Show More
As a holiday treat we're making the 2016 End of Year Special Edition of the Weekly Macro Themes available for free: http://www.topdowncharts.com/2016-special-edition This edition looks at some of my favorite charts and themes of the year from the weekly report, including the charts that worked (and those that didn't... Show More
While the best large-cap stories are normally expensive and the ASX 50 is dominated by cyclicals, banks, bond proxies and property names, there is a way through to attractive returns. It’s necessary to buy the growth stories in market panics, pick the right turnarounds to back and trade the others... Show More
Over the last two years listed property has been the top performing sectors on the ASX 200 outperforming the broader equity market. While Australian other sectors in the equity market have faced concerns about a rising and then falling AUD, falling commodity prices, Eurozone issues and bank capital raisings, listed... Show More
MFS Chief Investment Strategist, James Swanson, has sounded a warning to yield chasers in his latest note. "Lately, we have witnessed a growing disconnect in the financial markets too. Asset class after asset class continues to rise in value despite stagnant global economic growth and flagging corporate profits... The "chase... Show More
Telstra stands out among yield stocks as a victim of the "double-whammy" of a shift in sentiment and the beginning of bad news cycle, says Rudi Filapek-Vandyck from FNArena. While he thinks the sentiment shift is happening right across the yield theme, Telstra analysts have changed their dividend forecasts from... Show More
Financial Year 2016 has been a challenging year for investors, as many of the ‘market darlings’ of previous years took big hits in the second half. The banks and the ASX20 underperformed, while the Small Ordinaries racked up gains >20%, and materials had a strong showing. Ben Rundle, Portfolio Manager... Show More
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
Crispin Murray, BT Investment Management’s Head of Equities says the general trends that drove markets higher over the past couple of months may see a significant reversal this week – and possibly for several weeks to come – as a result of Friday night’s disappointing US non-farm payroll figure. The... Show More
Do the REIT's continue to be great Investments? Over the last 12 months, REIT's have quietly rallied 12%. Two points to discuss: 1.Australian 3 year bonds are now yielding sub 2% significantly aiding the REIT's. 2.The trend remains your friend and the REIT's have been performing well. The REIT's do not compete with the... Show More