FUND MANAGEMENT – AUSTRALIA

Sevior backs Lew push for Myer seats

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Original article by Sue Mitchell
The Australian Financial Review – Page: 12 : 22-Nov-17

Airlie Funds Management supports Solomon Lew’s bid to secure seats on the Myer board. Lew is the chairman of Premier Investments, which acquired a 10.8 per cent stake in Myer in March, only to see the value of its stake fall by over 40 per cent in six months. Airlie owns seven per cent of Premier, and Airlie founder John Sevior says it would be fair to say that Premier’s shareholders were not impressed by Lew’s decision to buy a stake in Myer.

CORPORATES
AIRLIE FUNDS MANAGEMENT PTY LTD, MYER HOLDINGS LIMITED – ASX MYR, PREMIER INVESTMENTS LIMITED – ASX PMV, CGI GLASS LEWIS PTY LTD, OWNERSHIP MATTERS PTY LTD, AUSTRALIAN COUNCIL OF SUPERANNUATION INVESTORS INCORPORATED, AUSTRALIAN SHAREHOLDERS’ ASSOCIATION, UBS HOLDINGS PTY LTD, SMIGGLE PTY LTD, PORTMANS PTY LTD, JUST JEANS PTY LTD, DOTTI, JAY JAY’S JEANS WAREHOUSE PTY LTD, BREVILLE GROUP LIMITED – ASX BRG

Shopping centres will survive peak Amazon

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Original article by Vesna Poljak
The Australian Financial Review – Page: 15 & 24 : 13-Nov-17

The Australian real estate investment trust sector has responded more proactively to the threat posed to retail trade by Amazon than many have given it credit for, according to Pete Davidson of BT Investment Management. REIT stocks currently favoured by BTIM include Westfield, Mirvac and Charter Hall, along with Arena and Folkestone, which both have interests in childcare centres. Other stocks that BTIM like include Precinct Properties and Vital Healthcare.

CORPORATES
AMAZON.COM INCORPORATED, BT INVESTMENT MANAGEMENT LIMITED – ASX BTT, WESTFIELD CORPORATION – ASX WFD, MIRVAC GROUP – ASX MGR, CHARTER HALL GROUP – ASX CHC, ARENA REIT – ASX ARF, FOLKESTONE LIMITED – ASX FLK, PRECINCT PROPERTIES, VITAL HEALTHCARE PROPERTY TRUST, MYER HOLDINGS LIMITED – ASX MYR, SCENTRE GROUP – ASX SCG, MITCHELL MONTAGU

ASX seven years behind the world

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Original article by Sally Patten
The Australian Financial Review – Page: 23 : 9-Nov-17

Morgan Stanley Wealth Management’s MD Matthew Koch has downplayed the significance of the S&P/ASX 200’s first close above 6,000 points in almost a decade. He argues that key overseas indices passed their pre-global financial crisis highs between 3-4 years ago. Morgan Stanley’s Christopher Bell adds that the Australian sharemarket’s limited earnings growth means the benchmark index is unlikely to reach its record high of 6,828.7 points for some time. Koch and his colleagues manage some $A1.5bn on behalf of 55 clients.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, MORGAN STANLEY WEALTH MANAGEMENT AUSTRALIA PTY LTD, STANDARD AND POOR’S 500 INDEX, NIKKEI 225 INDEX, FTSE 100 INDEX, EURO STOXX 50 INDEX, MERRILL LYNCH (AUSTRALIA) PTY LTD

Brexit shut one door, opened another for Auscap

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Original article by Glenda Korporaal
The Australian – Page: 17 & 21 : 24-Oct-17

Auscap Asset Management, which was founded by Tim Carleton and Matthew Parker in 2012, boasts about $A450m worth of funds under management. Carleton says Auscap saw Britain’s vote to leave the European Union as an opportunity to buy several Australian stocks with exposure to the UK at a healthy discount to their pre-Brexit share price. Likewise, the firm capitalised on bearish sentiment toward retail stocks following the Federal Government’s 2014 Budget to buy oversold stocks in the sector.

CORPORATES
AUSCAP ASSET MANAGEMENT PTY LTD, GOLDMAN SACHS AUSTRALIA PTY LTD, ANSELL LIMITED – ASX ANN, JB HI-FI LIMITED – ASX JBH, CALEDONIA INVESTMENTS LIMITED, COTA CAPITAL, THORNEY INVESTMENT GROUP AUSTRALIA PTY LTD, COLONIAL FIRST STATE GROUP LIMITED, BLACK DOG INSTITUTE, VICTOR CHANG CARDIAC RESEARCH INSTITUTE LIMITED, MULTIPLE SCLEROSIS RESEARCH AUSTRALIA LIMITED, JUVENILE DIABETES RESEARCH FOUNDATION INTERNATIONAL

Magellan’s new whale rebuffs LICs for trust

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Original article by Vesna Poljak
The Australian Financial Review – Page: 15 & 20 : 10-Aug-17

The Magellan Global Trust will seek to achieve an annual cash yield of four per cent. The trust, which is being listed by Magellan Financial Group, will be similar in structure to a real estate investment trust, although it will primarily invest in international shares. This investment trust model is widely used in the UK, although the listed investment company model tends to be favoured in Australia. The new trust is expected to have between 250,000 and 300,000 underlying investors.

CORPORATES
MAGELLAN FINANCIAL GROUP LIMITED – ASX MFG, MAGELLAN GLOBAL TRUST, CRICKET AUSTRALIA

Small caps ‘offer best opportunity’

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Original article by James Frost
The Australian Financial Review – Page: 24 : 27-Jul-17

Allan Gray Australia’s Simon Mawhinney is upbeat about the outlook for small-capitalisation stocks, forecasting that they are set to outperform their larger peers. Smaller Australian companies have tended to have lower returns over the last several decades, but Mawhinney expects non-S&P/ASX 100 companies to outperform over the next five years. Allan Gray particularly likes stocks such as Capral, Mineral Deposits and HT&E.

CORPORATES
ALLAN GRAY AUSTRALIA PTY LTD, STANDARD AND POOR’S ASX 100 INDEX, CAPRAL LIMITED – ASX CAA, MINERAL DEPOSITS LIMITED – ASX MDL, HT&E LIMITED – ASX HT1, ALUMINA LIMITED – ASX AWC, WOODSIDE PETROLEUM LIMITED – ASX WPL, NEWCREST MINING LIMITED – ASX NCM, ORIGIN ENERGY LIMITED – ASX ORG, METCASH LIMITED – ASX MTS, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, STANDARD AND POOR’S ASX 300 ACCUMULATION INDEX

Charter Hall tipped to pay $A250 million for Hastings

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Original article by Nick Lenaghan, Matthew Cranston
The Australian Financial Review – Page: 32 : 25-Jul-17

Charter Hall Group and Westpac have reported that they are in discussions with a view to the former buying Westpac’s Hastings Funds Management business. Hastings, which was started by former Carlton football player Mike Fitzpatrick, has an infrastructure portfolio valued at $A14.3 billion, with investments in assets such as the port of Newcastle and Perth Airport. Experts suggest that Charter Hall will have to pay about $A250 million for Hastings.

CORPORATES
CHARTER HALL GROUP – ASX CHC, WESTPAC BANKING CORPORATION – ASX WBC, HASTINGS FUNDS MANAGEMENT LIMITED, CARLTON FOOTBALL CLUB LIMITED, QIC LIMITED, AMP CAPITAL INVESTORS LIMITED, BROOKFIELD CAPITAL MANAGEMENT LIMITED

Active management still delivers: Ophir

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Original article by Damon Kitney
The Australian – Page: 20 : 14-Jul-17

Ophir Asset Management’s co-founders Andrew Mitchell and Steven Ng are upbeat about the outlook for active fund managers. They argue that the active investment style is more effective at picking stocks that offer good value, as passive managers tend to allocate capital to sectors based on a market’s weightings. Ophir’s Opportunities Fund has achieve a total return of 352.2 per cent since it was established, while the Ophir High Conviction Fund has returned 62.5 per cent since inception.

CORPORATES
OPHIR ASSET MANAGEMENT PTY LTD, UNISUPER LIMITED, COLONIAL FIRST STATE GROUP LIMITED, STANDARD AND POOR’S ASX 20 INDEX

Calling a truce in the fund war

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Original article by David Rogers
The Australian – Page: 17 & 20 : 3-Jul-17

The issue of active versus passive fund managers attracts considerable debate in Australia. However, BetaShares MD Alex Vynokur argues that the focus for fund managers should be on acting in the best interests of clients rather than the merits of each investment strategy. He notes that many active funds charge high fees while failing to deliver strong returns. BetaShares’ exchange-traded funds feature low fees and have a proven track record for good returns.

CORPORATES
BETASHARES CAPITAL LIMITED, BETASHARES FTSE RAFI AUSTRALIA 200 ETF – ASX QOZ, S&P DOW JONES INDICES LLP

Tech boom still has long way to run, says disruption fund

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Original article by James Frost
The Australian Financial Review – Page: 34 : 27-Jun-17

Evans & Partners’ executive chairman David Evans says digital disruption will affect sectors such as banking, insurance, health and retailing. Evans & Partners aims to capitalise on this with the launch of a global disruption fund, which will invest in US technology stocks such as Apple and Netflix, as well as Chinese technology stocks. The new fund will have an annual fee of 128 basis points and aims to initially raise $A100m from investors.

CORPORATES
EVANS AND PARTNERS PTY LTD, APPLE INCORPORATED, NETFLIX INCORPORATED, FACEBOOK INCORPORATED, ACTIVISION BLIZZARD INCORPORATED, ALIBABA GROUP HOLDING LIMITED, BAIDU.COM INCORPORATED, TENCENT HOLDINGS LIMITED, NETEASE.COM INCORPORATED, ALPHABET INCORPORATED, AMAZON.COM INCORPORATED, MICROSOFT CORPORATION, ZILLOW.COM, PAYPAL INCORPORATED, MASTERCARD INTERNATIONAL INCORPORATED, VISA INTERNATIONAL, MAGELLAN ASSET MANAGEMENT PTY LTD, GOLDMAN SACHS AUSTRALIA PTY LTD, GOOGLE INCORPORATED, REA GROUP LIMITED – ASX REA, CARSALES.COM LIMITED – ASX CAR, TELSTRA CORPORATION LIMITED – ASX TLS, SEEK LIMITED – ASX SEK, WESFARMERS LIMITED – ASX WES