We aim to deliver stronger returns to clients by investing in growing companies that generate consistent returns and reinvest above their cost of capital.
Australian Equities (Growth) – maximising shareholder value
- Long-standing and distinctive investment philosophy focussed on growing companies that can reinvest above their cost of capital
- Large and experienced team with an established broad market capability – incorporating specialist smaller company expertise
- In-depth industry, stock and valuation analysis is the foundation of identifying investment opportunities
Why Australian Equities Growth
Access to a high conviction Australian equities strategy through one of the largest and most experienced teams in the Australian market.
How we do it
In-depth industry, stock and valuation analysis is the foundation of how we identify investment opportunities. We believe that industry dynamics are key drivers of a company’s return on invested capital. The stock analysis then generates deeper insights into company-specific factors (competitive position versus industry, management quality), earnings forecasts and our discounted cash flow analysis (from which we derive our valuation signals).
Peer review and regular industry and stock review meetings allow for thorough stress testing of assumptions against an extensive analyst (internal and external) database, which collects 100 data fields on 500 stocks covering comprehensive historical results and forward year estimates. Environmental, social and governance risks and considerations form part of our fundamental analysis.
Led by Dushko Bajic, and supported by Deputy Head David Wilson, we consist of 12 specialists based in Sydney with an average of 19 years of experience. We are one of the largest Australian Equity teams and have the resources to undertake both deep industry research and detailed stock analysis to fully understand the drivers of return on invested capital.
We originated from the Colonial First State business and have been managing Australian equities for over 25 years.
The team has been strengthened in recent years following a series of senior appointments. Team leadership was transitioned to Dushko Bajic in 2017 after he served as Deputy Head for three years.
Our corporate RI strategy is based upon three strategic pillars of quality, stewardship and engagement.
We consider ESG risks to be factors that may place business value at risk. Companies at risk are identified using both external providers and our own internally driven research, which is based on a systematic and extensive company meeting program. Company meetings provide us with the opportunity to engage on ESG issues and gain greater insight into potential risks and opportunities. It also provides us with the opportunity to positively influence companies towards ESG best practice where appropriate.