Unpacking titanium, healthcare, Japan, resources & more | James McDonald
Murdoch sits down with James McDonald, Co-PM for Pengana’s High Conviction Fund to discuss Titanium, Resources, Japan, Healthcare & more!
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James brings extensive experience from his time at Hunter Hall and Bankers Trust and shares his journey of building and managing the High Conviction Fund, which was founded in 2014 and now manages roughly $58 million as of the time of recording.
The fund, as of 28th June 2024, has an ethical framework and has returned on average 24.7% since inception, 14.4% over 5 years, 8.6% over 3 years, 33.6% over 2 years, and 55.8% for the past year. As a high conviction strategy, the fund holds roughly 20 companies at a time. The benchmark is the MSCI World Index, with roughly 50% in healthcare, 40% in materials, and the remainder across communication services and consumer discretionary.
We discuss quite an array of topics and companies from healthcare and resources all the way to the Japanese market and where the investment opportunity may be. Also, if you are curious about exploring new areas like myself, then I think you are really going to enjoy diving into the world of titanium with James.
In this ROCast, James unpacks the titanium market and manufacturing process. In particular, James delves into IperionX's groundbreaking technology to produce titanium metal more efficiently and sustainably. James explains how the traditional Kroll process for producing titanium is highly inefficient, losing around 60% to 80% of the material and making it impossible to recycle scrap effectively. In contrast, IperionX's patented, innovative hydrogen-based process converts scrap titanium into a powder that can be reused, drastically reducing scrap waste. You will learn about the potential for this technology to revolutionize various industries by making titanium more accessible and affordable. We also discuss the broader implications for the US supply chain, the environmental benefits of this new method, and the vast array of applications for titanium, from consumer electronics to military and aerospace.
Companies Discussed:
- Pengana (PE1.ASX)
- Clarity Pharmaceuticals (CU6.ASX)
- Genetic Signatures (GSS.ASX)
- Roche Diagnostics (ROG.SW)
- Eli Lilly (LLY)
- Novo Nordisk (NVO)
- CSL (CSL.ASX)
- ResMed (RMD.ASX)
- Transmedics (TMDX)
- IperionX (IPX.ASX)
- Apple (AAPL)
- Boeing (BA)
- Airbus (AIR.PA)
- WA1 Resources (WA1.ASX)
- Brazilian Rare Earths (BRE.ASX)
- Tesla (TSLA)
- Subaru (7270.T)
- Hitachi (6501.T)
- Isuzu (7202.T)
- Toyota (7203.T)
- Nintendo (7974.T)
- Sony (6758.T)
- Spotify (SPOT)
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Murdoch Gatti is the founder of York Wealth Management and a private wealth adviser to families, business owners and professionals.
York helps clients make better long-term decisions about how their capital is invested, structured and passed on. That covers portfolio construction, retirement and superannuation strategy, and planning for the transfer of wealth between generations.
Murdoch also hosts The Rate of Change, a podcast where he interviews fund managers, investors and business leaders, then tests what he hears against the data.
Outside work, Murdoch and his wife Yasmin have two young children.
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York Wealth Management Pty Ltd ABN 46 605 610 679 is a Corporate Authorised Representative (No. 001007972) of AD Advisory Services Pty Ltd ABN 68 005 830 802, AFSL No. 237058. Murdoch Gatti is an Authorised Representative (No. 001007979) of AD Advisory Services Pty Ltd.
This article contains general advice only. It has been prepared without taking into account your objectives, financial situation or needs. Before acting on it, you should consider whether it is appropriate to you in light of your objectives, financial situation and needs, and seek professional advice where appropriate. If a financial product is referred to, you should obtain and consider the relevant Product Disclosure Statement and Target Market Determination before making any decision about it.
Every reasonable effort has been made to ensure the information is accurate at the time of publication, but no representation or warranty is given as to its accuracy, completeness or currency. Views of podcast guests and other third parties are their own. Links to third-party websites are provided for convenience only; we do not endorse and are not responsible for their content. Past performance is not a reliable indicator of future performance.
York Wealth Management, AD Advisory Services and their representatives may receive fees or other benefits in relation to financial products and services. Please refer to our Financial Services Guide, available from York Wealth Management, for more information.
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Murdoch Gatti is the founder of York Wealth Management and a private wealth adviser to families, business owners and professionals. York helps clients make better long-term decisions about how their capital is invested, structured and passed on....
Murdoch Gatti is the founder of York Wealth Management and a private wealth adviser to families, business owners and professionals. York helps clients make better long-term decisions about how their capital is invested, structured and passed on....
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