Australia Diversified Income Insights

View [Australian reporting season wrap 2019] Australian Reporting Season 2019

Australian reporting season wrap 2019

While company fundamentals are largely intact, this season, profit results have been clouded by the negative sentiment on politics, financial conditions and house prices. Increasing investment requirements have also reduced both company and consensus growth outlooks.

Active Viewpoint 19 March 2019
View [5G closing gap on fixed line broadband] 5G is coming, and closing the gap on fixed-line broadband

5G closing gap on fixed line broadband

It’s regarded as the future of mobile, but a recent research trip to the US drove home that 5G is also going to be one of the biggest themes this year.

4 February 2019
View [Australia outlook 2019] MC Australia 2019 Outlook

Australia outlook 2019

As 2019 develops, the key issue for the Australian market is the sustainability of world profit growth.

Video 29 January 2019
View [Weathering the earnings growth storm] Weathering the Australian storm

Weathering the earnings growth storm

Australian banks continue to endure many headwinds, some self-inflicted. Yet, the businesses manage to preserve a healthy level of cash flow generation.

3 December 2018
View [Searching for USA's "R star"] Unobservable neutral real rate of interest

Searching for USA's "R star"

‘R-star’ is the biggest issue for financial markets right now, more important than trade wars and diverging major economy growth.

3 December 2018
View [Six ways to assess if a board is competent and on our side] Six ways to assess if a board is competent and on our side

Six ways to assess if a board is competent and on our side

While governance quality is a hot topic of late, we see it is one of the longest-term dynamics between markets, management and a company’s fortunes. It is critical to a stock’s performance in the long term.

Active Viewpoint 29 November 2018
View [Four key drivers for Australian markets and one cautions] 4 key drivers

Four key drivers for Australian markets and one cautions

We devote most of our resources to identifying insights that can generate long-term returns and minimise risk. But in the short-term, returns and risk can be driven by very different forces.

31 October 2018
View [ESG - Don't just use the rear view mirror] Rear view mirror

ESG - Don't just use the rear view mirror

We are often asked why we don’t have a 100% exclusion of fossil fuels, or if we avoid the un-ethical banks. We recognise there is no 'perfect company', and that the past is not always a reliable indicator of the future

31 October 2018
View [The dichotomy in the Australian Market] MCA Reporting Season Wrap 2018

The dichotomy in the Australian Market

The Australian reporting seasons (in February and August) are normally important periods for markets, with much more fundamental company information available than at other times in the year. But this season, the market has again largely overlooked fundamentals, instead rewarding stocks with high price/earnings ratios (P/E) often regardless of lacklustre earnings.

Active Viewpoint 10 September 2018