NAOS Asset Management

CEO’s and business leaders' comments can provide valuable insights and provide a greater understanding of the current investment environment and key trends that may be emerging. Below are quotes from the week which in our view detail some of the most important and prominent industry trends and economic factors impacting... Show More

Rudi Filapek-Vandyck

Welcome to the FNArena Reporting Season Monitor for the August result season 2018. The Monitor reports ratings and consensus price target changes, along with brief summaries of the collective responses, from FNArena database brokers for each of the 300+ stocks. Week 3 is now available with coverage of 213 stocks. Show More

Hugh Dive

In early May the major Australian banks collectively reported profits for their last six months of A$15.3 billion dollars. This resulted in some media commentary about banks being too profitable, especially as three of the banks reported in the middle of the Royal Commission into the financial services industry, which... Show More

James Gerrish

The ASX was strong in early trade today before some selling kicked in and we traded down ~20pts from the highs, however when considering that S&P Futures in the US were trading -0.32% during our afternoon, we fared well in a relative sense. A similar story played out yesterday, and... Show More

A first strike at Boral and no second strike at Downer EDI. The Daily AGM note is available and this link It is updated through the day and into the evening as results come through. Show More

You can find the main note at this link and from there you can reach the other notes. ASX Listing Rule 10.17 resolutions to increase the non-executive director fee pool are one theme to look out for. I explain these resolutions in this note and while many companies... Show More

Marcus Tuck

One theme we have explored in the past is the search for stocks that have a good combination of dividend yield and earnings growth, the so called GARY stocks (Growth And Reasonable Yield). We think that continues to be a sensible strategy and have screened the ASX 100 universe for... Show More

Buy Hold Sell

With major the major banks seemingly in an ex growth phase, we take a look at an eclectic mix of non-bank financials to see if the prospects are any brighter. Berkshire Hathaway sees value in IAG but it hasn't helped the share price. The ASX has a near monopoly position,... Show More

Usually a quiet week in terms of the number of key AGMs and this year is no exception. That said, Downer EDI, Boral, Echo Entertainment Group, Fairfax Media and Perpetual have AGMs in this week. The Week in AGMs note takes a look at resolutions we've recommended voting against, identifying... Show More

Bell Potter

Perpetual had a strong net-flows of $449m into Perpetual Investments which occurred from 1st July to 21st August, with most into Australian equities, well ahead of our estimate. Divisional numbers: Perpetual Investments FY15 EBITDA of $138.1m below our $135.1m estimate (slight revenue miss); Perpetual Private FY15 EBITDA of $49.6m in... Show More

Livewire Equities

We have been impressed by the turnaround at Perpetual (PPT) driven by the transformation 2015 program, with the Trust company integration also tracking in line with targets. However, while management appears to have done a good job in simplifying the organisation and restoring focus, we think the low hanging fruit... Show More

James Marlay

The two charts below came from an investor presentation given by the Pengana Emerging Companies Fund. The charts were used as a backdrop to the managers positive investment thesis for wealth management companies (e.g. Perpetual, IOOF, HFA Holdings), which make up a substantial part of their portfolio. The two charts... Show More