Whilst Polen Capital, our investment partner in global equities, has been operating since 1979, manages 15 underlying investment strategies, has U.S.$65 billion in funds under management, and over 250 staff world-wide, it is fair to say it is not yet a household name in Australia. Montgomery partnered with U.S.-based, Polen Capital in 2021 to bring this well-kept global secret to investors in Australia, and pleasingly it appears others are starting to take notice. We’re delighted to announce that Money Management, in conjunction with independent research house Lonsec Research, has nominated P ..read more

In this episode of the Fear and Greed Podcast, Sean Aylmer and I discuss the evolving landscape of private credit and its emergence as a viable investment class. I explain how private credit operates outside the traditional banking system and has gained traction due to changes in banking regulations post-GFC. The conversation focuses on debunking myths around private credit, particularly the misconception that high returns necessarily imply high risk. This deep dive into private credit reveals its potential as a key component in investment portfolios, poised to become a more prominent asset cl ..read more

The long-awaited quarterly consumer price index (CPI) figure was reported this week. Over the March quarter, CPI rose by 1.0 per cent, which follows the previous 0.6 per cent December quarter increase. Over the 12 months to March 2024, CPI rose by 3.6 per cent. Whilst the annual rate of inflation is trending downwards, the quarterly figure increased by 0.4 per cent and poses ongoing challenges. The leading drivers behind the quarterly increase: Education fees rose by 5.9 per cent. This uplift was the strongest quarterly rise reported since 2012. Housing rose by 0.7 per cent. The rental marke ..read more

In what is perhaps a case of tail wagging the dog, a plunge in electric vehicle (EV) sales in Europe is causing at least one government there to revise the dates by which automotive manufacturers must transition to manufacturing only EVs. EV sales have recently plummeted in Germany. The European Automobile Manufacturers’ Association recently reported a significant 29 per cent drop in German year-on-year electric car sales for March. And across the entire European Union, there was an 11 per cent decline compared to the same month last year. This shift in trend has understandably sparked concer ..read more

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. One argument put forward as a reason to expect a pullback is that many stocks have risen a lot. Goodman Group (ASX:GMG), for example,&nbs ..read more

In this week’s video insight, David Buckland explores the U.S. budget deficit, steadfast U.S. interest rates, and surging gold prices. As the deficit surpasses projections and interest rates remain high, investors eye the soaring gold market. David delves into the performance of gold-focused companies like Gold Road Resources (ASX:GOR), Ramelius Resources (ASX:RMS), and RED 5 (ASX:RED), predicting a shifting landscape as the appeal of the U.S. Dollar wanes.  Transcript: Hi, I’m David Buckland and welcome to this week’s video insight.  The U.S. budget deficit hit U.S.$1.06 trillion i ..read more

Roger joined Alec Renehan and Bryce Leske on the Equity Mates Investing Podcast to discuss his current view on the market and opportunities for small caps and private credit. This episode also covers what’s next for interest rates, why now is the time to deploy cash, Roger’s investment philosophy and stock picking process and five stock stories. Read more here: Equity Mates: Roger Montgomery – 5 stocks he’s buying today ..read more

In the March 2024 quarter, we strategically added new positions to our portfolio, including Sage Group, Airbnb, and Paycom. We believe the Polen Capital Global Growth Fund’s valuation is currently fair for what we consider to be a collection of some of the best companies in the world. Sage Group Sage Group is an accounting and financial software provider focused on small-medium businesses (SMBs). We’ve covered Sage for many years, and it is a large and long-time holding in Polen’s International Growth portfolio. Sage occupies a leading position as a scaled provider of mission-critical softwar ..read more

The Australian superannuation system is often seen as one of the envies of the world. With assets totalling $3.7 trillion, our system is the fourth largest in the world and grew by 10 per cent over 2023 from a combination of contributions made to superannuation and underlying investment performance.   Over the course of 2023, Australians made contributions of $172.6 billion into super. What is more interesting, however, is this pool of assets also made benefit payments (comprising of lumpsum payments and pension payments) over the year of $111.1 billion, according to the latest offi ..read more

In the dynamic landscape of investing, uncovering hidden gems amidst the sea of opportunities often requires a keen eye for potential change and growth catalysts. Telix Pharmaceuticals (ASX:TLX), despite its relatively short tenure on the ASX, emerges as a beacon of promise in the realm of biotech ventures.   In evaluating investment opportunities, the lack of an extensive historical record can obscure a company’s growth inflection points, which are critical to our decision-making process. In their absence, we rely on historical analogs from our investment experience to identify key ..read more