We believe Australian equities are attractively priced: David Poppenbeek, Head of Australian Equities, K2 Asset Management

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We believe Australian equities are attractively priced: David Poppenbeek, Head of Australian Equities, K2 Asset Management. At present we are running net exposure at 70%, which is in-line with our 15 year average. We believe that Australian equities are attractively priced at 14.5x next year's earnings. However, we are mindful that the June half profit reporting season will be subdued and guidance into 2015 will be very conservative. Although Australian EPS growth has averaged about 1% pa since 2008, we are becoming more confident that FY2015 could see growth of 10%. As a result, our cash position will most likely be used to acquire positions in new listings; we feel that there should be around 100 IPO's this year and we are keen to invest in attractively priced businesses that are looking for fresh capital partners in order to pursue growth opportunities.


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