Afleveringen

  • 4D podcast – The growth thematics immune to economic volatility

    4D podcast – The growth thematics immune to economic volatility

    · Bennelong Funds Management

    “The growth opportunity is still largely underappreciated. We see five key growth dynamics within the infrastructure space that are 
 completely immune to the short-term economic events. So while we do have a great deal of volatility in the market at the moment, and a great deal of geopolitical and economic uncertainty, these growth thematics underpin the infrastructure investment case and are going nowhere, regardless of what happens in the short term.”


    4D’s Global Portfolio Manager and CEO, Sarah Shaw, speaks with Bennelong Account Director, David Whitby, about the long-term growth opportunities for infrastructure despite the current economic and geopolitical environment.

    0:43 —Infrastructure’s growth opportunities beyond the short-term volatility 3:45 – How technology and AI are shaping the infrastructure sector 7:00 – 4D’s approach to dealing with policy and regulation 9:37 – Capturing and mitigating investment risk in the current economic landscape

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    The content contained in this audio represents the opinions of the speakers. The speakers may hold either long or short positions in securities of various companies discussed in the audio. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely as an avenue for the speakers to express their personal views on investing and for the entertainment of the listener.

    See omnystudio.com/listener for privacy information.

  • Quay podcast – How high rates are impacting REITs

    Quay podcast – How high rates are impacting REITs

    · Bennelong Funds Management

    “For many of our investees, it seems sentiment is ruling the day. Further volatility seems likely, particularly as sentiment about the direction of interest rates waxes and wanes. However, it’s earnings that will ultimately decide value and where share prices settle. For us, the most important thing is to continue investing in sectors and stocks where earnings will continue to grow.”

    Quay’s Co-Principal and Portfolio Manager, Justin Blaess, speaks with Bennelong Account Director, Jodie Saw, about the impact of high rates on REITs, the mismatch between supply and demand, the opportunities emerging globally, and Quay’s long-term earnings outlook.

    This episode covers:

    The impact of high rates on REITs Quay’s view on bank values and the risks across sectors The mismatch between supply and demand in the real estate market The opportunities for REITs in the USA, UK and Europe 
 and how Quay is capitalising on these opportunities The team’s long-term earnings outlook

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    The content contained in this audio represents the opinions of the speakers. The speakers may hold either long or short positions in securities of various companies discussed in the audio. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely as an avenue for the speakers to express their personal views on investing and for the entertainment of the listener.

    See omnystudio.com/listener for privacy information.

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  • Touchstone podcast - The state of consumer spending

    Touchstone podcast - The state of consumer spending

    · Bennelong Funds Management

    “In Australia, consumer spending, historically, has been about 50% of GDP. This year it's been closer to 80% of GDP growth. There seems to be a view that, well, the RBA’s 
 more or less done what it’s gonna do. I think what the market's missing, though, is there's a huge lag from when the RBA increases rates to when households actually have to pay the higher interest rates.”

    Touchstone’s portfolio specialist, Ron Sargeant, speaks with Bennelong Account Director, Holly Old, about current consumer spending and what it means for the economy, why secular stagnation matters, the impact of higher earnings, and Touchstone’s cautious outlook for reporting season.

    We cover:

    1:03 – Touchstone’s philosophy and investment process 2:37 – Ron’s observations from his recent Melbourne trip 4:23 – What secular stagnation is, and why it matters 6:16 – The real reason consumer spending is going down 8:31 – The impact of earnings being too high for consumer companies 11:33 – What Touchstone expects from the upcoming reporting season

    Thanks for listening. If you have any questions, or want to learn more, visit our website.

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    The content contained in this audio represents the opinions of the speakers. The speakers may hold either long or short positions in securities of various companies discussed in the audio. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely as an avenue for the speakers to express their personal views on investing and for the entertainment of the listener.

    See omnystudio.com/listener for privacy information.

  • Quay podcast - The surprising trends emerging in real estate

    Quay podcast - The surprising trends emerging in real estate

    · Bennelong Funds Management

    "Interestingly, based on the latest set of results, and remember the banking crisis started to occur in March, our companies by and large, were still able to access the debt markets, and they've still been able to access credit through their banking relationships. We haven't seen any real major disruption yet in terms of what our companies are able to do.”

    Quay’s Chris Bedingfield speaks with Bennelong Account Director, Mai Platts, about latest results from reporting season, Quay’s current portfolio positioning, the opportunities in residential and self-storage, and the ongoing impact of inflation and bank failures.

    This episode covers:

    Results from the latest reporting season Quay’s current portfolio, and the opportunities going forward for residential and self-storage Chris’ view on when inflation will level out The current impact of the US banking failures on commercial property The macro concern keeping investment managers up at night

    Thanks for listening. If you have any questions, or want to learn more, visit our website.

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    The content contained in this audio represents the opinions of the speakers. The speakers may hold either long or short positions in securities of various companies discussed in the audio. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely as an avenue for the speakers to express their personal views on investing and for the entertainment of the listener.

    See omnystudio.com/listener for privacy information.

  • 4D podcast – The golden opportunities for infrastructure in a challenging environment

    4D podcast – The golden opportunities for infrastructure in a challenging environment

    · Bennelong Funds Management

    “There is a place for infrastructure in all portfolios and in all markets. It offers defensiveness with growth, and sector and regional diversity, which means infrastructure can be fundamentally positioned for all points of an economic cycle. And we think allocations to the asset class should be more representative of this opportunity set.”

    Bennelong Account Director, Jodie Saw, speaks with 4D’s Chief Investment Officer and Portfolio Manager, Sarah Shaw, about how infrastructure has been performing, 4D’s portfolio, and the opportunities for infrastructure growth despite a tumultuous few years.

    This episode covers:

    How infrastructure has performed against a challenging macroeconomic backdrop 4D’s current portfolio positioning Why 4D believes investors should be increasing their allocations in listed infrastructure Listed versus unlisted infrastructure – which one should investors go for? The opportunity in emerging markets

    Thanks for listening. If you have any questions, or want to learn more, visit our website.

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    The content contained in this audio represents the opinions of the speakers. The speakers may hold either long or short positions in securities of various companies discussed in the audio. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely as an avenue for the speakers to express their personal views on investing and for the entertainment of the listener.

    See omnystudio.com/listener for privacy information.

  • Quay podcast - FORA: fear of renting again

    Quay podcast - FORA: fear of renting again

    · Bennelong Funds Management

    “FOMO, fear of missing out, has changed to FORA, which is fear of renting again. And I think that's what’s caused a bit of the supply strike that's happening. And there's a very bearish narrative in the residential commentary at the moment
 but I think when you really look at it from a logical and a cool perspective, it's probably not as bad as people say.”

    Quay’s Chris Bedingfield speaks with Bennelong’s Holly Old about the future of house prices in Australia, the fear of renting again, and what history has taught us about the next global crisis.

    This episode cover:

    March madness – the rate height cycle, the big news on banks, and the outcome of reporting season The buyer versus seller strike, and the future of house prices in Australia Chris’s new acronym, FORA Why we’re not entering another global financial crisis

    Thanks for listening. If you have any questions, or want to learn more, visit our website.

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    The content contained in this audio represents the opinions of the speakers. The speakers may hold either long or short positions in securities of various companies discussed in the audio. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely as an avenue for the speakers to express their personal views on investing and for the entertainment of the listener.

    See omnystudio.com/listener for privacy information.

  • Quay podcast: Are we headed for a recession?

    Quay podcast: Are we headed for a recession?

    · Bennelong Funds Management

    In this podcast episode, Quay Global Investors’ Portfolio Manager, Chris Bedingfield, speaks with Bennelong’s Holly Old about the team’s latest Investment Perspectives article, The yield curve, recessions and soft landings; the big themes in global real estate right now; and risks and opportunities from the US tech wreck.

    “If inflation is transitory and we can get through all the supply bottlenecks now that China's opening up, you could get a scenario where the yield curve is inverted, the Fed starts cutting rates in the next year or two, and we don't have a recession.”

    This episode covers:

    What the yield curve has historically signalled about recessions, and whether this time is any different Chris's top three takeouts from the recent NAREIT conference (spoiler: cost of funding, struggling developments, and 'recession watch') Why the US tech wreck is affecting apartments just as much as office.

    Thanks for listening. If you have any questions, or want to learn more, visit our website.

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    The content contained in this audio represents the opinions of the speakers. The speakers may hold either long or short positions in securities of various companies discussed in the audio. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely as an avenue for the speakers to express their personal views on investing and for the entertainment of the listener.

    See omnystudio.com/listener for privacy information.

  • 4D inflation podcast (part 2): The US Inflation Reduction Act

    4D inflation podcast (part 2): The US Inflation Reduction Act

    · Bennelong Funds Management

    With inflation still the word on everyone’s lips, 4D Infrastructure’s latest podcast is published in two parts. Part 1 dealt with the impact of inflation on the current macro environment, and part 2 looks specifically at the US’s new Inflation Reduction Act.

    In this episode, Peter Aquilina (4D’s Head of ESG and Senior Investment Analyst) speaks with Dave Whitby (Bennelong Account Director) about how the US’ new Inflation Reduction Act is really about transitioning the US to a decarbonised, clean/renewable energy economy.

    This episode covers:

    Why the Inflation Reduction Act isn’t actually inflation policy How the Act is supporting decarbonisation efforts What this means for infrastructure (and why 4D is excited) Some of the names in 4D’s portfolio that could benefit

    Thanks for listening. If you have any questions, or want to learn more, visit our website.

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    The content contained in this audio represents the opinions of the speakers. The speakers may hold either long or short positions in securities of various companies discussed in the audio. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely as an avenue for the speakers to express their personal views on investing and for the entertainment of the listener.

    See omnystudio.com/listener for privacy information.

  • 4D inflation podcast (part 1): Paul Volcker, central banks, and the UK

    4D inflation podcast (part 1): Paul Volcker, central banks, and the UK

    · Bennelong Funds Management

    With inflation still the word on everyone’s lips, 4D Infrastructure’s latest podcast is published in two parts. Part 1 deals with the impact of inflation on the current macro environment, and part 2 looks specifically at the US’s new Inflation Reduction Act.

    In this episode, Greg Goodsell (4D’s Global Equity Strategist) speaks with Dave Whitby (Bennelong Account Director) about how most developed economies are dealing with inflation – and how the UK differs.

    This episode covers:

    How recent history helps explain current events The establishment and role of central banks, and how they're managing inflation now Why recent events in the UK have raised eyebrows Where to from here, both in the UK and the rest of the developed world

    Thanks for listening. If you have any questions, or want to learn more, visit our website.

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    The content contained in this audio represents the opinions of the speakers. The speakers may hold either long or short positions in securities of various companies discussed in the audio. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely as an avenue for the speakers to express their personal views on investing and for the entertainment of the listener.

    See omnystudio.com/listener for privacy information.

  • Quay podcast: The latest trends in housing, retail and venture capital

    Quay podcast: The latest trends in housing, retail and venture capital

    · Bennelong Funds Management

    In this podcast episode, Quay Global Investors’ Portfolio Manager, Chris Bedingfield, chats with Bennelong Funds Management’s Holly Old about the team’s latest – and highly popular – Investment Perspectives article, 12 charts we’re thinking about right now.

    “We thought there was so much going on in markets right now that it was just too much to write about, and too many words to put down. So we cheated a bit and put out these charts, which I think people like – because a picture tells a thousand words.”

    This episode covers:

    The initial results from reporting season What central banks will do to combat inflation The supply and demographic dynamics pushing huge opportunity in US housing Why Quay believes brick and mortar retail is definitely not dead.

    Thanks for listening. If you have any questions, or want to learn more, visit our website.

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    The content contained in this audio represents the opinions of the speakers. The speakers may hold either long or short positions in securities of various companies discussed in the audio. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely as an avenue for the speakers to express their personal views on investing and for the entertainment of the listener.

    See omnystudio.com/listener for privacy information.

  • 4D podcast: Interest rates, inflation and infrastructure

    4D podcast: Interest rates, inflation and infrastructure

    · Bennelong Funds Management

    4D Infrastructure’s Chief Investment Officer and Global Portfolio Manager, Sarah Shaw, speaks with Bennelong Funds Management’s Jodie Saw about the impact changing interest rates and inflation can have on infrastructure; and the opportunities presented in the asset class.

    “Given the distinct features of varied infrastructure assets, with active management a listed infrastructure equity portfolio can be positioned to take advantage of the long-term structural opportunity set, as well as whatever near-term cyclical events may prevail – whether they be environmental, political, economic or social.”

    This episode covers:

    How exposure to infrastructure can be adjusted according to interest rates and inflation Why the current equity market volatility is showing a disconnect to company fundamentals (and where the opportunities are) Why 4D continues to like emerging markets over the long term How the portfolio could be positioned in a stagflation or recessionary environment The ongoing, critical need for global infrastructure spend

    Thanks for listening. If you have any questions, or want to learn more, visit our website.

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    The content contained in this audio represents the opinions of the speakers. The speakers may hold either long or short positions in securities of various companies discussed in the audio. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely as an avenue for the speakers to express their personal views on investing and for the entertainment of the listener.

    See omnystudio.com/listener for privacy information.

  • 4D podcast: Country risk

    4D podcast: Country risk

    · Bennelong Funds Management

    In this episode, 4D’s Global Equity Strategist, Greg Goodsell, speaks with Bennelong Funds Management’s Dave Whitby about 4D’s unique country review process.

    “We wanted to formally incorporate country risk assessment into our investment process. We can’t invest in a stock unless we’re first happy with the country from which that stock comes.”

    This episode covers:

    How Russia stacks up in 4D's country review process The origins and purpose of the country review process The four-step process behind 4D’s traffic light system Global recovery, growth and opportunities in an inflationary environment

    Thanks for listening. If you have any questions, or want to learn more, visit our website.

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    The content contained in this audio represents the opinions of the speakers. The speakers may hold either long or short positions in securities of various companies discussed in the audio. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely as an avenue for the speakers to express their personal views on investing and for the entertainment of the listener.

    See omnystudio.com/listener for privacy information.

  • Quay podcast: Inflation, interest rates and industrials

    Quay podcast: Inflation, interest rates and industrials

    · Bennelong Funds Management

    Quay Global Investors’ Portfolio Manager, Chris Bedingfield, chats with Bennelong Funds Management’s Carl McMinn about the changing market environment, what’s ahead for the sector and how Quay is positioning the portfolio.

    “Raising interest rates can’t get a captain on a boat into a port any quicker. We don’t have a demand problem, we have a supply problem.”

    This episode covers:

    Hedging against inflation Is raising interest rates a mistake? Positioning for the portfolio in the current environment

    Thanks for listening. If you have any questions, or want to learn more, visit our website.

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    The content contained in this audio represents the opinions of the speakers. The speakers may hold either long or short positions in securities of various companies discussed in the audio. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely as an avenue for the speakers to express their personal views on investing and for the entertainment of the listener.

    See omnystudio.com/listener for privacy information.

  • Quay podcast: House prices in 2022 and beyond

    Quay podcast: House prices in 2022 and beyond

    · Bennelong Funds Management

    Chris Bedingfield, Portfolio Manager at Quay Global Investors, shares his views on Australian house prices and the enduring fascination with residential property.

    He takes a deep dive into the team’s Investment Perspectives article, House prices - what's in store for 2022 and beyond.

    This episode covers:

    Whether interest rates really drive house prices The ongoing issue of supply chain constraints, both domestically and globally, and the impact of demographic shifts The difference in demand for housing in the US and Australia

    Thanks for listening. If you have any questions, or want to learn more, visit our website.

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    The content contained in this audio represents the opinions of the speakers. The speakers may hold either long or short positions in securities of various companies discussed in the audio. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely as an avenue for the speakers to express their personal views on investing and for the entertainment of the listener.

    See omnystudio.com/listener for privacy information.

  • 4D podcast: The role of infrastructure in reaching net zero

    4D podcast: The role of infrastructure in reaching net zero

    · Bennelong Funds Management

    In the lead up to the COP26 summit, 4D Infrastructure’s Global Portfolio Manager, Sarah Shaw, sat down with Bennelong Funds Management’s Holly Old to weigh in on the role infrastructure will play in the decarbonisation opportunity, particularly within high carbon-emitting industries such as energy and transport.

    “Decarbonisation must happen, and the goal of net zero is just not achievable without the right form of infrastructure investment.”

    This episode covers:

    - Whether decarbonisation goals are a threat or opportunity to the outlook for global infrastructure

    - Net zero and the Paris Agreement

    - The role infrastructure can play in decreasing carbon emissions across two key industries: electricity generation and transport

    Thanks for listening. If you have any questions, or want to learn more, visit our website.

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    The content contained in this audio represents the opinions of the speakers. The speakers may hold either long or short positions in securities of various companies discussed in the audio. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely as an avenue for the speakers to express their personal views on investing and for the entertainment of the listener.

    See omnystudio.com/listener for privacy information.