While it remains quite possible that this election will take longer to be formally resolved than most others, financial markets will approach this probabilistically, as ever, and won’t wait for every detail to be formally verified
Read Moreby Robert Almeida, Portfolio Manager and Global Investment Strategist
Read MoreA 30% collapse, a dramatic comeback and new all-time highs; we look back at a remarkable 2020 for US shares amid a global pandemic, an economic collapse and a looming presidential election.
Read MoreWhat has happened?
Read MoreWith certain sectors at extreme valuations, managing risk is more important than ever when investing in small caps. Marc Whittaker and Phillip Gray from Investors Mutual discuss their key tenets for managing risk in the small-cap sector.
Read MoreIn this most unpredictable of years, is today the point of maximum uncertainty? As you read these words, the list of things we don’t yet have an answer to is long and daunting.
Read MoreThe global ETF industry continued its recovery in Q3 from the market turmoil earlier this year, breaking the US$7T barrier in August before retreating slightly in September as asset values fell.
Read MoreHaving just come out of reporting season, one of the main observations that stood out was the unusually high level of noise.
Read MoreIt would not be unfair to say that this has been a challenging year. Consider a global pandemic, economic devastation from the shut-down of a global economy, the deepest recession since the 1930s and record highs for the U.S. equity market. Throw in the upcoming and well documented U.S. election and the uncertainty investors are facing alongside market volatility is almost unprecedented.
Read MoreThe concept of using the home to release capital is not new; there have been variations around this concept for years. But for whatever reason none has really caught the public’s imagination. We suspect that’s about to change.
Read MoreToday, there is an undisputed infrastructure investment gap right around the world – as evidenced by the American Society of Civil Engineers (ASCE) regular reporting on the state of US infrastructure which has averaged grade D (meaning Poor, At Risk) since 1998.
Read MoreIf you are expecting to wake up next Wednesday morning knowing who will be in the White House for the next four years, whether they have the backing of Congress, and what the economic and market implications will be, you may have to wait a little longer.
Read MoreIt pays to be diversified – and 2020 has been no exception. The Australian small cap market offers breadth and opportunity for those investors willing to accept the risk that comes with an investment in a basket of small companies.
Read MoreWith the U.S. Presidential election now less than a week away, many investors are currently considering how the potential result could impact their portfolios.
Read MoreCoordinated fiscal and monetary stimulus is likely to support global demand and therefore reflation in the years ahead. We see this opening up broader growth opportunities, and ultimately better scope for portfolio diversification.
Read MoreDiversification is important when investing in Australian real estate investment trusts (A-REITs). Different subsectors of the A-REIT market perform differently. This has been particularly borne out since March this year when COVID-19 hit.
Read MoreWith low yields delivering low income, fixed income has been challenged in the current environment.
Read MoreAt its national investment forum webinar, Allan Gray chief investment officer, Simon Mawhinney said there had never been a bigger gap between defensive and secular growth shares and the more traditional cyclical shares.
Read MoreIn Australia, we’ve always tended to think of bank stocks as the sleep at night option, ‘a buy and put it in the draw kind of investment’, because they’ve been so reliable in delivering growth and income. But as a sector, they’re facing considerable headwinds.
Read MoreTrying to pick the winner of the COVID-19 vaccine race is as difficult as picking a winner during the spring carnival.
Read Moreby Michael Brown
Read MoreAlthough the coronavirus outbreak has caused major disruptions and geopolitical risk is on the rise, markets are looking forward to recovery. In what appears to be a rapidly changing world, many things remain the same and indeed, may be changing for the better.
Read MoreWith cash rates set to stay even lower for even longer, retirees urgently need higher-earning alternatives for the defensive portion of their portfolios. Actively managed fixed income investments can provide the answer – and the time to act is now.
Read MoreThe cuts to dividends revealed in the ASX reporting season provide a reminder that generating income from equities requires a long-term outlook, according to First Sentier Investors.
Read MoreThe COVID-19 pandemic has meaningfully hit most countries in the world, bringing with it a toll on human lives and livelihoods. As governments move to mitigate the public health crisis and support economies through monetary and fiscal policy, many are asking if governments will stimulate their economies with investments in infrastructure.
Read MoreJamie Nicol, Manager of the DNR Capital Australian Equities High Conviction Fund / Portfolio, runs us through his thoughts on the reporting season just past.
Read MoreLooking back over 35 years of investing, I never thought that I would ever see the day in Australia where interest rates are as low as they are today.
Read MoreScott Kelly, Manager of DNR Capital’s Australian Equities Income Portfolio, gives us an update on the fund and his outlook for the oncoming months.
Read MoreAustralian small cap investors have an unprecedented opportunity to gain exposure to new company floats, according to small companies specialist OC Funds Management (OC). At its September investor briefing, OC Head of Investments Rob Frost highlighted that the concentration of Initial Public Offerings (IPOs) seeking to list in the final stretch of 2020 was probably the highest he has witnessed in his nearly 20 years at OC.
Read MoreWhich is a better investment, Riverrun or Winterfell?
Read MoreFollowing the release of the National Accounts, Frank Uhlenbruch, Investment Strategist in the Janus Henderson Australian Fixed Interest Team, puts the recession in context and discusses the road ahead.
Read MoreWhile the disconnect between markets and the real economy has widened further, there is no guarantee that it will narrow, especially with central banks acting as the buyer of last resort. Yet the risk of an extended run of corporate insolvencies remains. In this environment, high-quality income generation is the key, together with the flexibility to move quickly as new opportunities and threats emerge.
Read MoreFirst Sentier Investors Senior Portfolio Manager Tim Canham discuss their substantial shareholding in renewable energy company Genex Power.
Read MoreFactors are identifiable, persistent drivers of risk and return. According to index provider MSCI, there are six main equity style factors: quality, size, value, momentum, dividend yield and volatility. Quality, in particular, has been receiving a lot of attention recently.
Read MoreQ2 2020 reporting season for Australian equities has come and gone. What does that mean for investors? Who were the winners and losers? Martin Conlon, Head of Australian Equities at Schroders, gives some insights.
Read MoreOn 4 March 2020, we launched the BetaShares S&P/ASX Australian Technology ETF (ASX: ATEC), the first ETF focused on providing access to Australia’s fast-growing technology sector. ATEC offers exposure to a diversified portfolio of dynamic ASX-listed tech players such as Xero, Afterpay, Seek, WiseTech Global and carsales.com.
Read Moreby Cameron Gleeson
Read MoreAs we enter the second half of 2020, it’s clear that the steady sharemarket rise of the last 10 years has ended, and we are in a new time of volatility and uncertainty. Following the historic market sell-off in Q1 and subsequent recovery in Q2, markets have largely laid flat and trended sideways for the past few weeks.
Read MoreAs Australian companies have grown, so has their footprint on the global stage. This means many of the country’s best businesses are effectively global leaders in their own right and have significant operations in many countries around the world. Randall Jenneke from T. Rowe Price shares his insights with ShareCafe.
Read MorePre-IPO investing has the potential to generate significant returns in a relatively short space of time, however there are many issues to consider that may not be obvious to the regular investor.
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DOWNLOAD RESEARCH REPORTSecures binding contract with Tier-1 OEMUS based anode active project gathers momentumMagnis Energy Technologies (MNS.ASX) – MNS is planning an anode active facility in the US and recently announced a binding, yet conditional, contract for the supply of anode active with Tesla. The contract is for a minimum 17.5kt/year with an option to purchase another 17.5t/year. Conditions precedent carry a tight development timeframe, with first production scheduled for February 2025. Site selection is underway and co-locating with an OEM on a brownfields site makes sense. Long lead items have been ordered and detailed engineering and design is expected to commence soon. |
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December Quarterly Report: Q2 FY2023Looking past the rain – there’s a rainbow.TerraCom released their operating results for the December quarter FY2023 with operating metrics being in line with our forecasts. Unseasonal rains in both Australia and South Africa contributed to operational and logistical issues across all mines, however guidance for annual production at Blair Athol is unaffected and highlights the quality of TerraCom’s skills in operational management. We continue to like the stable operating metrics around the company’s Australian operations and see potential for the South African operations to benefit from increased management focus given the rationalisation of operations following the closure of the Ubuntu mine. Corporate Connects overall financials remain unchanged as does our target price of $1.35 share. We maintain our forecast for a fully franked quarterly dividend of 7.5c/share to be paid in the March and June quarters of FY2023. |
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DOWNLOAD RESEARCH REPORTHigh performance synthetic anode & cathode materials Building a US based materials supply chainNOVONIX (ASX:NVX) – is scaling a synthetic anode materials plant in the US and piloting nickel rich cathode material in Canada. Why? China is dominant and growing – 100% of global natural anode and 68% of synthetic anode is refined in China. In short, China controls the global midstream battery chain by controlling 60% of chemical refining, 87% of anode manufacturing, 61% of cathode manufacturing and 73% of battery manufacturing. It is global battery supply and price domination at scale. |
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DOWNLOAD RESEARCH REPORTAntisense Therapeutics (ANP) Taking a Quick Approach to Long COVIDThis report looks at the results of a collaborative study Antisense undertook which looked at the largest protein expression database in Long COVID-19 patients who experienced neurologic symptoms well after the primary or acute SARS-CoV-2 infection was considered over (Groups 1 & 2, with 48 subjects Group 2 comprising a single patient from a different clinical site). The symptoms and others experienced by such patients result in a highly significant amount of illness, possibly more than all primary SARS-CoV-2 infections i.e COVID-19. |
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DOWNLOAD RESEARCH REPORT4Q reveals more focus on profit and cash flow• LBY’s 4Q FY22 quarterly activities update showed continued solid growth in top line metrics, albeit slowing, with GMV of NZ$203m (+26% on pcp) and income of NZ$12.1m (+23% on pcp).
• Net Transaction Margin (NTM) disappointed at -0.5%, due to further increase in credit losses from 4.0% to 4.9% of GMV. However, new fraud and credit risk management tools have seen losses recover materially with NTM back to 1.2% in March and LBY is confident of further recovery in coming months.
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DOWNLOAD RESEARCH REPORTSigns MOU with Ford Company – Kachi is now sold out!Lake Resources (LKE. ASX) – LKE has signed two non-binding MOU’s in the space of 10 days. Ford Company (Ford) has signed an MOU for ~25,000t/year and last week Hanwa, a Japanese commodity trader signed a MOU for up to 25,000t/year. Subject to execution, this is an amazing feat as Ford and Hanwa are prepared to enter into longer-term strategic partnerships with LKE. Commercial negotiations are still ongoing but are expected, especially if Ford & Hanwa inject new equity into LKE, to further de-risk the project financing & thus ensure LKE and Kachi are fully funded. |
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DOWNLOAD RESEARCH REPORTStrategic Vanadium-battery growth with Titanium & Iron earnings resiliencyTNG Ltd is an ASX-listed technology owner and developer of the world-class Mount Peake near-surface vanadiferous titanomagnetite deposit. To unlock value, TNG will concentrate ore from its central Northern Territory mine for processing through its patented TIVAN® process produce three premium quality revenue streams: hi-purity vanadium pentoxide (V2O5) for steel alloys and Vanadium Redox Flow batteries, a quality titanium pigment for paints and a premium steel input with >64%Fe iron ore fines. |
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Promising exploration and development update while SOP prices continue to riseTwo recent gravity surveys have considerably exceeded expectations and revealed potential for extensions to the existing MRE at Lake Throssell, plus a material growth opportunity at Lake Yeo. This reinforces the potential for a multi-decade, Tier-1 SOP production hub based around Lake Throssell. TMG is currently completing work towards the PFS due early 2023, including drilling to start in Q3 2022, evaporation trials and permitting activities. Results from these programs will support the PFS and any future resource upgrade. Benchmark SOP prices have risen to ~US$940/t due to recent geopolitical developments. The Oct 2021 Scoping Study assumed a SOP price of US$550/t and contained a sensitivity analysis showing every 10% increase in price drives a +$144m increase in the project NPV of $364m. The c.70% increase above the Scoping Study thus implies a project NPV of ~$1.4bn. |
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DOWNLOAD RESEARCH REPORTIncreasing our TargetDespite the lower realised oil and gas price, which fell by 5.4% and 19.7% respectively in August, Calima managed to show improvement in its key business metrics. We expect higher production in November due to the contribution by the new Thorsby wells which will be drilled in August/September which will see Calima meet its 2021 production guidance of 4,500 boe/d. |
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DOWNLOAD RESEARCH REPORTEmerging Financial Wealth Advisory GroupWT Financial Group Limited (WTL) is a growing diversified financial services company, founded in 2010 and listed on the Australian Stock Exchange (ASX) in 2015. Its advice and product offerings are delivered primarily through a group of independent financial advisers operating as authorised representatives of WTL under its Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group) dealer group operations. It has around 275 advisers across more than 200 financial advice practices Australia-wide. It also operates a direct-to-consumer operation under its Spring Financial Group brand. |
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DOWNLOAD RESEARCH REPORTImmutep Taking the Fight to CancerIn May 2021, Corporate Connect analyst Marc Sinatra published a comprehensive research report on ASX-listed biotech Immutep Ltd (ASX: IMM). So impressed was he with IMM that Corporate Connect felt it imperative that a follow-up report be released placing a valuation on the company, because the market was not seeing the vast potential of eftilagimod alpha (efti). This follow-up report has been released today. Using comparables, after adding cash back to their EV estimate and dividing by the total number of issued shares, Corporate Connect now places the fair value of an Immutep share at $A2.20. |
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DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaPayGroup (PYG) delivers multi-country BPO services and cloud SaaS HCM solutions, assisting companies to manage employees in multiple, complex jurisdictions. The company has many growth opportunities, including new clients, new jurisdictions, new products, partner expansion, and new revenue sources. PYG’s scalable business model allows operating leverage and with savings from in-housing third party technology, support margin expansion. |
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DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaOpenLearning (OLL) is a higher education technology company that operates a scalable online learning platform through a software-as-a-service (SaaS) business model and provides a global marketplace of high quality courses for learners of all levels. Its primary customers are education providers based in Australia and South-East Asia (primarily Malaysia). OLL started operations in Australia in 2012 and expanded to Malaysia in 2015, Singapore in 2018, and recently also Indonesia. |
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