Market-leading position in growing industry: IDP Education

Robert Frost

OC Funds Management

IDP Education (ASX:IEL) is a quality provider of international student placement and English language testing services. IEL operates three related businesses: 1) it co-owns IELTS, one of the leading ‘high stakes’ English language tests for students, migrants and employees, 2) it is one of the largest student placement agents globally with a strong presence in Asia, and 3) it operates 10 English language teaching campuses in SE Asia. IEL has a strong history of revenue and earnings growth which, to date, has largely been organically driven through volume and pricing. The company recently acquired Hotcourses which owns and operates a portfolio of education search websites that help prospective students make more informed study choices and connect with universities and colleges around the world. The acquisition is complementary to the existing student placement division and is expected to be EPS accretive. IEL has a market-leading position in a growing industry and management has a clearly articulated growth strategy and the recent share price pull-back provided us an attractive entry point. (VIEW LINK)


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Head of Investments
OC Funds Management

Robert was appointed Head of Investments in 2009 and has been a Portfolio Manager since joining OC Funds Management in 2001. Robert is also an Executive Director of parent company, Copia Investment Partners.

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