2 Emerging Gems

Romano Sala Tenna

Katana Asset Management

Icar Asia Limited (ICQ): 2 important things happened this week for Icar. Firstly realestate.com made its long awaited move on Icar’s sister company Iproperty Group. Secondly, on Thursday Icar announced that it had taken an important step towards monetising its 3rd and last country – Indonesia – with a solid 20% of dealers paying up front in the 1st month. With pole position in its 3 markets and the virtuous cycle or ‘network effect’ starting to gather momentum, we are struggling to find a better emerging technology play. Australian Finance Group Ltd (AFG): We were able to catch-up with AFG’s highly credentialed management team during the week. We came away confident that AFG has a wide range of earnings drivers including system, industry and adviser growth, as well as greater penetration of their white label and securitisation products. Whilst the housing cycle is often pronounced, credit growth itself is more robust. As the graph from the RBA / ABS below highlights, credit has only failed to expand once in the past 40+ years.

Romano  Sala Tenna
Portfolio Manager
Katana Asset Management

Katana Asset Management was founded in September 2003 as a boutique investment management firm. Katana employs an all opportunity investment mandate being style, sector and market cap agnostic.

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.


Sign In or Join Free to comment