This podcast was recorded in March 2021, and contains content relevant for the first quarter of 2021.
BAEP’s Mark East (Chief Investment Officer) and Neale Goldston-Morris (Senior Investment Analyst) join Dave Whitby (Account Director, Bennelong Funds Management) for a robust update on the strength of the economic recovery; the team’s view on key fundamentals; and sector and stock updates, including how this affects the portfolios’ positioning.
“We’ve been of the view for 12 months now that the world would see an extremely powerful economic recovery come through … and we’re seeing that in spades. It’s being driven by fiscal and monetary policy stimulus, and the inventory cycle. Businesses are struggling to get the product into the supply channels because rebound in demand has been so quick.”
- 0:55 – The remarkable strength of the domestic economic recovery (including rising bond yields and inflation), and how the portfolio is positioned as a result
- 5:05 – The team’s view on the recent run on value stocks (and a probable return to quality) and ongoing issues with the inventory cycle
- 8:25 – A look across specific sector positioning, including banks, resources and travel
- 12:47 – Detailed stock updates on CSL (one of the most asked-about stocks in BAEP’s portfolio), ARB and Domino’s