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Cyclical stocks, financials, low price-to-book/price-to-earnings ‘value’ stocks, and resources have all been on a run recently. Meanwhile, high price-to-earnings growth stocks and ‘yield plays’ such as infrastructure and REITs have been sold off. The perennially popular healthcare sector has sold off more than 10% in the last three months. A sharp reversal of fortunes from the post-GFC world we’ve been living through for the last 7 years, which has only accelerated since the US election. So, what’s been driving this great rotation, and is this a trend that is likely to continue? And more importantly, how can investors position to take advantage of this? In this week’s Thematic discussion, Matthew Kidman from Centennial Funds spoke with Jeremy Bendeich from Avoca Investment Management and Shane Fitzgerald from Monash Investors to get their view on these important questions.


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