Initiating on Netwealth with a AUD 5.00 FVE and a No-Moat Rating
We are initiating coverage of Netwealth Group Ltd (NWL AU) with a AUD 5.00 fair value estimate, a no-moat rating, and a high fair value uncertainty...
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Global Asset Managers Are Breaking Out -- Add Exposure
Out of favor for the past three years, global asset managers are making a comeback, technically speaking, as seen by (1) the industry’s breakout...
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IOOF Placement - Company's Good Track Record Means FY2019 EPS Accretion Will Likely Be Achieved
IOOF Holdings Ltd (IFL AU) is selling 43.5m primary shares, worth approximately US$353m to partially fund its acquisition of ANZ's OnePath Pensions...
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Valuations Stretched on ASX-Listed Corporate Hybrids
In November 2016 we stated a large proportion of redemptions would be reinvested in existing corporate issues to achieve some degree of sectoral...
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Australia's Housing Revolution Continues, but for How Much Longer?
A lift in new dwelling investment to a record high has underpinned Australia's current housing expansion. The revolution in Australian housing...
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