Pengana: Two sectors experiencing strong tailwinds

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Steve Black of the Pengana Emerging Companies Fund says there are two sectors on the ASX that he’s well invested in and are experiencing strong tailwinds – telecommunications and tourism. Black says that companies such as Vocus and M2 have benefitted enormously from Telstra being “a little slow, distracted and inefficient” and will continue to benefit from the levelling of the playing field that’s likely to happen as the rollout of the NBN takes place. On the tourism front Black says the plunge of the Aussie dollar and the large influx of Chinese tourists are advancing the sector and cites three companies that are well placed to benefit from these trends.

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