Welcome to the Perpetual’s Investment Insights webinars hub, where our Portfolio Managers exclusively share insights on the funds they manage, discuss their views on markets, cover where they are seeing opportunities and the fundamentals are affecting investment portfolios today, talk about portfolio construction and much more.
Multi Asset - May 2019
Australian Equities - December 2018
Australian Equities - September 2018
Australian Equities - June 2018
Welcome to the Perpetual Adviser Hub Fund Resources section. Check out the range of collateral to help you with your clients, download fund profiles and get easy access to our key fund webpages for more details.
For your interest – and for sharing with your clients – we’ve selected some of our best thinking on markets, economics and individual securities.
Perpetual publishes a range of newsletters to give you and your clients more information on our flagship investment funds. Don’t forget to sign-up if you want to receive these newsletters automatically – and to sign up to our Investing Matters newsletter which pulls together our latest investment articles across the asset class range.
Read bi-monthly insights and updates from Perpetual’s investment experts on a range of topical investment themes.
This newsletter looks at stock picks of ethical and socially responsible companies, investment trends and market moves.
Keep up to date with the latest investment opportunities we see for the Perpetual SHARE-PLUS Long-Short Fund.
This newsletter covers the market, stocks and economic updates from the investment team of the Perpetual Pure Equity Alpha Fund.
Keep up to date with the latest microcap stock picks from the managers of Perpetual’s Pure Microcap Fund.
Find out more about the stock picks and strategy of Perpetual’s Pure Value Share Fund.
Read the Global Share Fund newsletter for stock and market commentary from Garry Laurence and his team.
Check out the Fund newsletter for market updates and fund insights into Perpetual’s Diversified Real Return Fund.
Vivek Prabhu, Portfolio Manager of the Perpetual Diversified Income Fund shares his latest investment insights and portfolio updates.
Hear from Thomas Rice, Portfolio Manager of Perpetual’s Global Innovation Share Fund about his latest stock picks and portfolio insights.
Download the March newsletter to find out about the latest performance of the strategy, interesting themes that arose from the recent interim reporting season and our views on the potential impact of the upcoming federal election on ESG and the Fund.
In this newsletter edition we examine a key holding in the fund – Bega Cheese (ASX:BGA), we also discuss the September quarter performance and positioning of Perpetual’s Ethical SRI Fund.
Exuberance that has crept into markets and made outperforming indices difficult. As always, there are great companies out there, trading at much more reasonable valuations, which we believe can provide steady long-term growth but also far less downside risk for our investors when the cycle inevitably turns.
In this newsletter edition we discuss the current portfolio positioning of Perpetual’s Ethical SRI Fund, and examine Australian financial and insurance institutions – and how we deal with the recent revelations from the Royal Commission into misconduct in the banking, superannuation and financial services industry from an ethical investment perspective.
This month we examine what’s driving the recent share price strength for some of the strongest performing companies on the ASX – including Afterpay, Wisetech and Hub24 – and examine whether short term earnings, or the market re-rating the multiples on these stocks, or a combination of both is responsible for their significant growth. We also discuss our views on how these current valuations are being justified to investors, and consider what the market might look 10 years from now.
In this newsletter we discuss the recent interim company reporting season in Australia.
In this newsletter edition we discuss the initial reactions of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry and examine the potential unintended consequences of the commission.
In this newsletter edition we examine a long term holding in the fund – Alumina Ltd (ASX:AWC), we also discuss the current performance and positioning of Perpetual’s SHARE-PLUS Long-Short Fund.
In this newsletter, we discuss the recent interim company reporting season in Australia.
In this newsletter edition we examine a long term holding in the fund – Alumina Ltd (ASX:AWC), we also discuss the current performance and positioning of Perpetual’s Pure Equity Alpha Fund.
In this newsletter edition we examine the current environment where incumbent companies are at serious risk of disruption from new-age companies. We explore what could prove to be valuable defence mechanisms for these incumbent businesses and how, despite the rising threats, these businesses can still present good investment opportunities if they can leverage their existing scale, customer relationships and data sets in the right way.
In this newsletter we discuss a key holding in the fund Enero Group (ASX:EGG) and how it has contributed to the performance of the fund.
The last quarter of 2018 was a turbulent one in markets, bring an end to a challenging year overall for value managers. The Fund fell -18.5% over the quarter, while the index was also down markedly, dropping -13.7% over the same period. Over the long term (since inception in September 2013) the Fund has generated 20.1% p.a. versus 5.3% p.a. for the S&P/ASX 300 Accumulation Index.
Pivotal Systems Corporation (ASX:PVS) designs and manufacturers Gas Flow Controllers (GFCs) which are used in the semi-conductor manufacturing process to improve yields and reduce process inefficiencies. More broadly, the global semi-conductor industry continues to grow driven by uptake in communication devices, personal computers (PCs), vehicles and the internet of things (IOTs), with increasing numbers of semiconductors used in each device.
National Tyre & Wheel (ASX:NTD) is a wholesale importer and distributor of car tyres and wheels throughout Australia, New Zealand and South Africa. No tyres are made locally in Australia and NTD has the exclusive import rights to the Cooper Tyre brand.
In this newsletter, we discuss the performance of the fund as well as key stocks contributing and detracting over the month.
The Australian equity market enjoyed a broad based rally in January with only the Financials ex Property (-0.3%) sector finishing the month in negative territory. Energy was the best performing sector for the month (+11.5%) buoyed by a recovery in oil prices.
The Fund fell -0.5% over the month. The S&P/ASX 300 Accumulation Index fell -0.2% over the month. Over the year the fund returned -13.0%. The S&P/ASX 300 Accumulation Index fell -3.1% over the year. Over the long term (since inception on 28 February 2006) the Fund has generated 14.8% pa versus 5.5% pa for the S&P/ASX 300 Accumulation Index.
November was a tough month for the markets and, disappointingly, for the Perpetual Pure Value Fund even more so. The S&P/ASX300 fell -2.2% during November, with the Fund down -6.1%.
In this newsletter, we discuss a key holding in the fund in which we have increased in position - Siemens.
In this newsletter, we discuss two key holdings in the fund Huya and E Link holdings as well as share our long-term outlook.
What a difference three months can make in sentiment and performance in equity markets. While the MSCI world index was down 11% for the December quarter, all these loses were made back in the March quarter.
2018 was a tumultuous year for equity markets. The MSCI world index finished down 11% for the December quarter bringing the annual return to 1.4%. The sharp sell-off in the December quarter is what we would call a healthy correction...
In the past quarter, we have seen a significant divergence between the performance of the US stock market compared to emerging markets and Europe.
We had a solid quarter generating a return of 5% net of fees. This takes our annual financial year return to 15% net of fees, in line with the annual return we have achieved for our investors, since the inception of this fund seven and a half years ago.
The Fund’s defensive strategies kicked in during the December quarter and added significantly to performance.
Over the past quarter, this previously observed preference for growth over value stocks has inverted.
The low interest rate settings of the current investment environment have resulted in an underappreciation of market risks, resulting in companies with strong balance sheets being overlooked and little consideration being given to the price paid for securities.
The March quarter was marked by a spike higher in volatility after an extraordinary period of record low (or near record low) volatility across all asset classes.
Like many sports, a good defence is critical to winning the long game when it comes to investing. A good offence will get you on the scoreboard but a good defence will help you win the game. As strong as your offence is, if your defence is weak, you won’t get very far.
It’s now been well over a decade since the global financial crisis (GFC) began. The unprecedented policy response by central banks in response to the GFC was characterised by exceptionally accommodative monetary policy.
Hybrid exposures have made a strong contribution to portfolio outperformance over FY18. Last year, we saw good relative value in hybrid credit spreads (as a multiple of the spread available on equivalent senior or sub-ordinated debt). In early 2017, we began consistently increasing the exposure to hybrid securities
Welcome to the first edition of your new Perpetual Diversified Income Fund newsletter. I hope my insights help you keep you on top of your clients’ investments and provide useful discussion points for client conversations.