In the Press

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by Roger Montgomery Posted in Global markets, In the Press.

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It was, for example, wise to be alert to the possibility of a large move lower if volatility emerged after a long rally. And while it has been my experience that volatility does indeed cluster around major turning points, it’s possible I only remember what I want to. continue…

by Roger Montgomery Posted in Editor's Pick, In the Press, Market commentary.

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The chorus of investors who believe the market is due for a correction is growing louder, and the list of reasons is growing longer.

I have some sympathy with the view the market could pull back. I believe there is an ever-present risk of such pullbacks, so if one should emerge, it would not be surprising. Additionally, I have no belief in anyone’s ability to forecast the precise timing of such a pullback consistently, so now could be as good a time as any. continue…

by Roger Montgomery Posted in Economics, In the Press.

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There’s a lot of talk right now about bonds and rate hikes, but there is one part of the stock market that is flying under the radar. And this is small caps. In this article for Capital Brief Rob Forker, from our global equities partner Polen Capital shares why he is seeing a decades-low valuation relative to large cap indices. Read the article: The investors getting set for an epic resurgence in small caps

by Polen Capital Posted in Editor's Pick, In the Press, On the Internet.

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Australian Eagle Asset Management is the top performing fund manager over a five-year period with their Equity Strategy Fund delivering an impressive return of 11.6 per cent per annum, compared to the ASX 100 Accumulation Index which returned 7.8 per cent per annum. continue…

by Sean Sequeira Posted in Editor's Pick, In the Press, Montgomery News and Updates, On the Internet.

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Rachel Pupazzoni published an article for ABC News discussing how seven companies have experienced significant growth compared to other stocks, collectively rising by 50 per cent year-to-date, while the rest of the companies in the MSCI US Index have remained unchanged. She draws on Roger’s thoughts on how this narrow group of companies driving the market gains is likely influenced by enthusiasm for AI and its transformative potential, although the actual extent of its impact remains uncertain. Read here: Nvidia’s share price has surged almost 200 per cent on an AI boom. But will it stay there?

by Roger Montgomery Posted in Editor's Pick, In the Press, On the Internet.

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Reading between the spreadsheet lines, the annual earnings season has given a few hints of what is to come for corporate Australia and the broader economy over the next year. The annual results of Australia’s top 200 listed companies is a scorecard of how they performed over the last 12 months, as well as what they’re hoping to achieve for the year ahead. Every reporting season has a few losers.

Roger Montgomery warns some retailers could be in for more pain as inflation rises and people refrain from spending. “Another after effect from COVID has been the persistent supply chain issues that companies are facing, and we saw companies like City Chic, Lovisa and Supercheap Auto responding to those supply chain difficulties by investing more in inventory,” he observed.

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Rachel Pupazzoni: Corporate Australia just received a glowing profit report card, but the outlook is not as rosy

by Roger Montgomery Posted in In the Press.

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Montgomery Investment Management unveiled the second fund to come out of its partnership with Aura Group, the Aura Core Income Fund.

Montgomery chair Roger Montgomery said “I am delighted Montgomery Investment Management can now offer a high-quality income solution for our retail clients and investors in partnership with Aura Credit Holdings working with Brett Craig, the portfolio manager.”

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Chloe Walker: Montgomery, Aura Group launch new income fund

Disclaimer  

Find out more about the Aura Private Credit Funds  

You should read the relevant Product Disclosure Statement (PDS) or Information Memorandum (IM) before deciding to acquire any investment products.  

Past performance is not an indicator of future performance. Returns are not guaranteed and so the value of an investment may rise or fall.  

This information is provided by Montgomery Investment Management Pty Ltd (ACN 139 161 701 | AFSL 354564) (Montgomery) as authorised distributor of the Aura Core Income Fund (ARSN 658 462 652) (Fund). As authorised distributor, Montgomery is entitled to earn distribution fees paid by the investment manager and may be issued equity in the investment manager or entities associated with the investment manager.  

The Aura Core Income Fund (ARSN 658 462 652)(Fund) is issued by One Managed Investment Funds Limited (ACN 117 400 987 | AFSL 297042) (OMIFL) as responsible entity for the Fund. Aura Credit Holdings Pty Ltd (ACN 656 261 200) (ACH) is the investment manager of the Fund and operates as a Corporate Authorised Representative (CAR 1297296) of Aura Capital Pty Ltd (ACN 143 700 887 | AFSL 366230).   

You should obtain and carefully consider the Product Disclosure Statement (PDS) and Target Market Determination (TMD) for the Aura Core Income Fund before making any decision about whether to acquire or continue to hold an interest in the Fund. Applications for units in the Fund can only be made through the online application form. The PDS, TMD, continuous disclosure notices and relevant application form may be obtained from www.oneinvestment.com.au/auracoreincomefund or from Montgomery.  

The Aura Private Credit Income Fund is an unregistered managed investment scheme for wholesale clients only and is issued under an Information Memorandum by Aura Funds Management Pty Ltd (ABN 96 607 158 814, Authorised Representative No. 1233893 of Aura Capital Pty Ltd AFSL No. 366 230, ABN 48 143 700 887).  

Any financial product advice given is of a general nature only. The information has been provided without taking into account the investment objectives, financial situation or needs of any particular investor. Therefore, before acting on the information contained in this report you should seek professional advice and consider whether the information is appropriate in light of your objectives, financial situation and needs.    

Montgomery, ACH and OMIFL do not guarantee the performance of the Fund, the repayment of any capital or any rate of return. Investing in any financial product is subject to investment risk including possible loss. Past performance is not a reliable indicator of future performance. Information in this report may be based on information provided by third parties that may not have been verified.  

by Roger Montgomery Posted in In the Press.

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Australia’s largest companies rebounded strongly after two years of pandemic interruption, achieving a 56.3 per cent uplift in aggregate statutory profits over FY22.

Speaking to the Inside Investor, Roger Montgomery said there was no shortage of themes impacting earnings this year including inventory build for retailers, COVID-19 impacts, floods off the east coast, interest rate hikes, supply-chain constraints, war in Ukraine, labour shortages and soaring inflation.

Interestingly, aggregate cash levels fell from the highs reached in February. Part of this is explained by outflows for dividends declared in 2021, but it also highlights the aforementioned cost pressures including payments for additional inventory and higher costs for staff absenteeism. Subsequently, 27 per cent of businesses cut dividends, above the historic average.

Commenting on earnings season, Montgomery said results were “roughly in line” with his expectations.

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Earnings season: ASX profits boomed by 56pc

by Roger Montgomery Posted in In the Press.

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Polen Capital has an enviable track record of delivering overall out-performance and averaging double-digit annual returns for more than 33 years. Headquartered in Boca Raton in Florida, USA, the firm manages $80 billion in assets.

The Inside Investor recently met with Simon Gregory and Paul Williams from the Polen Capital investment team to discuss the “Polen style” of investing. Speaking about the expansion into Australia, Williams says, “we launched the first fund, Global Equities, about twelve months ago and expanded that to take into consideration the Global Smaller Mid-cap fund, late last year.” adds Williams. continue…

by Roger Montgomery Posted in In the Press, Polen Capital.

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