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Make sense of the global investment landscape with timely updates, articles and videos from our investment experts.
Our aim is to provide thought-provoking investment insights and access to information to help understand where we believe the world's best investment opportunities lie.
The last two years has seen international travel upended, domestic transport challenged, ‘essential services’ redefined and a growing interest in the role infrastructure can play in decarbonisation. With this backdrop, does the case for investing in global listed infrastructure still stack up? (Viewing time: 82 mins)
The impediments to supply are likely to last and disrupt growth and provoke inflation. (Reading time: 4 mins)
But display ads face privacy and regulatory challenges that reduce their effectiveness. (Reading time: 4 mins)
Any crunch would centre on Italy, have no obvious solution and remind that the euro’s frailties are unaddressed. (Reading time: 6 mins)
A market failure means pharmaceutical companies are failing to address the threat.
Innovation that enhances everyday brands is strengthening the Swiss giant’s moat. (Reading time: 5 mins)
His problem? Monetary policy is ill-suited to fight inflation arising from supply constraints. (Reading time: 6 mins)
This insulation from rising prices should help protect their share prices. (Reading time: 6 mins)
InvestorDaily podcast host David Stratford, is joined by Elisa Di Marco, MFG Core ESG Fund Portfolio Manager. In this episode, Elisa explains that companies with ESG aren’t just performing lip-service for better publicity, rather, they are genuinely concerned for proper compliance to globally-proven environmental policies. Elisa also discusses the importance of engagement and management, as well as how ESG policies significantly reduce the element of risk when investing in a company of any scale. (Listening time: 26 mins)
A loss of autonomy to fight inflation is just one of the dangers. (Reading time: 5 mins)
The first one fizzled. Can asset-selling – aka money destroying – help fight inflation? (Reading time: 5 mins)
Remote work is ensconced. A ‘Great Resignation’ is underway in the US. Neither might last. (Reading time: 5 mins)
Designed to provide you with concise, relevant and digestible talking points on global markets, each video is around 10 minutes.
We provide an update on Magellan’s global strategy and the current macroeconomic landscape, plus a chance to hear from portfolio managers Chris Mackay, Nikki Thomas and Arvid Streimann. (Viewing time: 46 mins)
Webinar recorded: 10 February 2022
The last two years has seen international travel upended, domestic transport challenged, ‘essential services’ redefined and a growing interest in the role infrastructure can play in decarbonisation. With this backdrop, does the case for investing in global listed infrastructure still stack up?
Dom Giuliano, Deputy CIO and Head of ESG at Magellan, provides colour on some promising renewable-energy stocks, the efforts three portfolio companies – Amazon, Eversource Energy and Nestlé – are making to reduce their carbon footprint, and new investment Booking.com. (Viewing time: 11 mins)
Hamish Douglass, Magellan’s CIO, discusses why the less-threatening Omicron variant still comes with inflation implications, why he’s recently invested in two companies exposed to structural growth in global travel and why today’s stock market reminds him of 1999’s. (Viewing time: 23 mins)
Portfolio Manager Ofer Karliner, outlines why listed infrastructure and utilities stocks rallied in the fourth quarter, the likely recovery in airport assets, why high carbon scores can be a misleading guide to ESG risks for infrastructure stocks, and why, even if interest rates rise, the infrastructure portfolios still comes with diversification, inflation protection, capital growth and yield benefits if the universe is defined correctly. (Viewing time: 10 mins)
A pioneer of digitalised financial markets that owns the New York Stock Exchange among others. (Reading time: 3 min)
Somewhere a ceiling exists. Trouble is brewing, especially in the eurozone and emerging countries. (Reading time: 6 mins)
The US electricity and gas company’s strategy is regulated green power. (Reading time: 2 min)
Hamish Douglass, Magellan's Chairman and CIO, addresses the challenges the business has faced in recent weeks, as well as providing his insights on current global markets, Magellan’s global investment strategy and the investment team’s market outlook for 2022. (Viewing time: 28 mins)
The touted ‘embodied internet’ might take a while to arrive and could underwhelm, even with Big Tech support. (Reading time: 5 mins)
A cost disadvantage needs to be overcome first. (Reading time: 4 mins)
Ofer Karliner, Portfolio Manager, provides an Infrastructure update, discusses what trends he's seeing in the uptake of global travel and the risks of inflation. (Viewing time: 9 min)
Chris Wheldon, Portfolio Manager, provides an update on Magellan's High Conviction Strategy, discusses the recent news involving Facebook and outlines why he still likes the outlook for Alibaba. (Viewing time: 10 mins)
When markets are frothy and a myriad of risks confront investors, it’s likely that real returns could be lower in the coming decade compared with the past one. Hamish Douglass, Magellan’s co-founder and CIO, discusses why such an environment calls for a portfolio that focuses on lower-risk, high-quality global businesses that can earn attractive, compounded returns in tougher times.
The software giant has benefited from pandemic-driven push to online. (Reading time: 2 min)
Broader financial instability can’t be ruled out. (Reading time: 4 mins)
Cracking down on cryptocurrencies might ruin the risk-reward calculation for criminals. (Reading time: 5 mins)
The commercialisation of space comes with unknown promise but known risks. (Reading time: 5 mins)
A US electricity and gas utility leading the drive against climate change (and other challenges). (Reading time: 2 min)
Many think the internet giants are too big for society’s good. But even a rethink of competition policy along such lines is unlikely to curb the largest platforms. (Reading time: 4 mins)
It adds up to a big opportunity. (Reading time: 3 mins)
The former deputy director of the CIA discusses the lack of a US policy on China, the threat of a war over Taiwan, Russian ransomware and the world’s biggest threat.
Amid heightened uncertainty when investment markets could just as likely decline as rise, it’s important to stay focused on the rational when others are gripped by emotion.
Dom Giuliano, Deputy CIO and Head of ESG, explains the growth in sustainable investing, one way to define the issue, how Magellan has helped companies confront recent social choices and why the election of a more-sustainable-friendly US president doesn’t reduce climate risks.
David Costello, Portfolio Manager, talks investing in Infrastructure with Alec & Bryce from Equity Mates. (Listening time: 51 mins)
The company’s iconic brands extend beyond the world-famous cola drink into snacks. (Reading time: 2 min)
Powering the US Midwest in a greener way. (Reading time: 2 min)
But problems need to be overcome to hasten the switch and cement the climate benefits. (Reading time: 5 min)
Designed to provide you with concise, relevant and digestible talking points on global markets, each video is around 10 minutes.
Is a watershed reengineering of money underway? (Reading time: 4 min)
Domestic production gets priority in a strategy that seeks to boost China's 'soft power'. (Reading time: 4 min)
But efforts to rein in the US-based CDA section 230 protections pose dilemmas that prevent watershed action. (Reading time: 4 min)
Gerald Stack dissects recent portfolio performance, potential inflation concerns and investment opportunities as global economic re-openings begin to gather pace. (Viewing time: 17 mins)
Hamish Douglass, Magellan’s Chairman and CIO, reflects on a remarkable 12 months since the pandemic shook global markets, he discusses portfolio performance over recent months and his view on the current state of the market including the recent volatility and trending investor exuberance. (Viewing time: 29 mins)
Hamish Douglass and Chris Wheldon, Portfolio Managers of Magellan's High Conviction strategy discuss the positioning and composition of the portfolio in the context of Magellan's economic outlook and offer their investment thesis for the streaming giant, Netflix. (Viewing time: 42 mins)
Enjoying a decent slice of the hugely popular and competitive streaming industry. (Reading time: 2 min)
Delivering for customers and investors rain, hail or shine. (Reading time: 2 min)
Might his emergency stimulus revive inflation? (Reading time: 5 min)
Chris Wheldon, Portfolio Manager of Magellan's High Conviction Strategy, talks to Equity Mates about investing in Asia and thematics you should consider, Chris also discusses current portfolio holdings, Facebook and Tencent. (Viewing time: 16 mins)
Hamish Douglass, Chairman and CIO at Magellan, explains the intricacies around the vaccines for the virus behind the covid-19 illness, warns a mutant variant could appear and tells why that’s just one risk that could catch out investors in 2021. (Reading time: 5 mins)
Hamish explains the intricacies around the covid-19 vaccines, warning a mutant variant could catch investors out in 2021. (Viewing time: 34 mins)
Hamish addresses investor questions on recent performance, portfolio positioning and the risk of inflation. (Viewing time: 29 mins)
Hamish Douglass, Chairman, CIO and Lead Portfolio Manager (Global) was interviewed for Morningstar’s ‘The Long View’ podcast. In this wide ranging interview, Hamish discusses Magellan’s unusual origin story, investing in China, and how to build a cohesive lower-risk global equities portfolio. (Listening time: 49 mins)
Vihari Ross, Head of Core Series, Head of Research and and Chris Demasi from Montaka Global discuss three mega cap stocks; Tesla, Tencent and Microsoft. And provide two stocks that they believe will rain returns for investors over the long term. (Viewing time: 10 mins)
Magellan Chairman & CIO, Hamish Douglass talks investing with Alec & Bryce from Equity Mates. (Listening time: 55 mins)
Magellan's Executive Chairman & CIO, Hamish Douglass speaks with Tom Piotrowski about the likelihood of COVID-19 continuing to mutate, his expectation central banks will ban cryptocurrencies & his recent investment in Netflix. (Viewing time: 16 mins)
Vihari Ross, Head of Core Series, Head of Research and and Chris Demasi from Montaka Global discuss the the Australian government's legislative attempt to make big tech pay local news publishers for content. How it may impact investors in Facebook and Google, the potential windfall for publishers, as well as whether regulation curbs companies' ability to grow and innovate. (Viewing time: 12 mins)
Vihari Ross, Head of Core Series, Head of Research and and Chris Demasi from Montaka Global Investments discuss global giants Kellogg's, Visa and Spotify and nominate a high-flying stock that they think is over-hyped. (Viewing time: 10 mins)
Public disgruntlement stops Berlin cementing a currency union that helps make the country an export dynamo. (Reading time: 5 min)
Gerald Stack dissects recent performance and changes made to the portfolios, and looks ahead to the opportunities and risks that may present themselves in 2021. (Viewing time: 27 mins)
Hamish Douglass provides an update on recent performance, what the latest vaccine mutation could mean for markets, discusses Chinese stock Alibaba and outlines what he’s looking for in 2021. (Viewing time: 39 mins)
The campaign for dominance in semiconductors could hurt both countries. (Reading time: 5 min)
The Spanish company that is the world’s biggest airport operator can expect a busier 2021. (Reading time: 2 min)
Designed to provide you with concise, relevant and digestible talking points on global markets, each video is around 10 minutes.
A Swiss giant reimagining healthcare. (Reading time: 2 min)
Dom Giuliano, Deputy CIO, Head of ESG & Portfolio Manager, provides an overview of the Magellan sustainable fund. (Viewing time: 16 mins)
Will Japan under Suga try the reflationary option Abe didn’t? (Reading time: 5 min)
The Magellan GLOBAL Listed Infrastructure team lead by Gerald Stack, Magellan's Head of Investments & Infrastructure share their insights on the current state of the global listed infrastructure sector, including the recent performance, outlook, and future opportunities for investors as we move into 2021. (Viewing time: 60 mins)
Magellan's investment team take a deep dive into the tech sector and provide insights on Facebook, Tencent, Alibaba and Ant Financial IPO. (Viewing time: 47 mins)
Hamish Douglass speaks to James Marlay from Livewire. During the live webinar, Hamish provides his initial thoughts on the unfolding US election and how the outcome relates to investors. He also answers questions from attendees about stocks, macroeconomics and global investment trends. (Viewing time: 62 mins)
No option removes the existential threats to the UK stirred by its EU departure. (Reading time: 6 min)
Hamish Douglass chats to Morningstar's Tim Murphy about the market environment including: optimism for a covid-19 vaccine, low interest rates and the success of technology stocks during the pandemic. The pair discuss the US election and how the outcome may affect global markets. (Viewing time: 44 mins)
Hamish Douglass gives his thoughts on the US election, explains a critical assumption driving share markets higher and tells why Chinese tech giants will survive any decoupling with the US. (Viewing time: 60 mins)
Gerald Stack provides a quarterly update on Infrastructure and changes to the portfolio. (Viewing time: 17 mins)
Ultra-loose monetary policy could even be counterproductive for economies. (Reading time: 5 min)
As part of the AFA Vision 2020 Conference Magellan's Head of Franchises Rosie Malcolm and Co-Head of Technology Ryan Joyce recently discuss which consumer and tech companies are the best placed to capitalise over the long term on these shifts.
It’s one of the stocks that pop up if you google ‘world’s most valuable companies’. (Reading time: 2 min)
Powering southern and southeastern Australia with an eye on renewables. (Reading time: 2 min)
Any quest to alter the constitutional order would be more proof of how primary contests are destabilising US politics. (Reading time: 6 min)
But any rupture is likely to fall short of the separation the word implies. (Reading time: 8 min)
Hamish Douglass, Chairman and CIO, talks about how he is managing his global portfolio in a world facing four big risks; namely, the pandemic, the US election, China-US tensions and promiscuous monetary policy. (Viewing time: 25 mins)
The young will want to be compensated for protecting the elderly from covid-19. But their quest will come with risks. (Reading time: 7 min)
An electricity utility poised to seize opportunities as Spain turns to renewables. (Reading time: 3 min)
The webinar looks at the justification for creating a portfolio of only a few holdings and explains what attributes high-quality companies have that mean they are likely to outperform in most economic circumstances. (Viewing time: 39 min)
Hamish Douglass, Chairman and Chief Investment Officer, spoke with Janet Yellen, the most recent former chair of the Federal Reserve, and an adviser to Magellan, about the covid-19 health and economic crisis.
Hamish Douglass, Chairman and Chief Investment Officer, reflects on the last six months and explains why a framework of analysing 'known unknowns', when applied to the coronavirus pandemic, should lead investors to be cautious.
Gerald Stack, Head of Infrastructure, How the covid-19 crisis has changed the investment case for investing in infrastructure and utilities.
The covid-19 crisis has changed the investment case for investing in infrastructure and utilities, because different sectors have been impacted in different ways
A framework of analysing known unknowns when applied to the coronavirus pandemic should make investors cautious.
China, rather than the US, could soon be the world's 'consumer of last resort'. To earn that status, China must avoid a 'trap' among other challenges.
This new, yet largely ignored, trend comes with underrated economic and social costs. (Reading time: 6 min)
Even though the platform attack is hobbled by poor economics, restaurants are under threat – especially during a pandemic. (Reading time: 4 min)
This series is designed to provide you with concise, relevant and digestible talking points on global markets, each in around 10 minutes.
These social, political and economic changes can be grouped into four categories; new, accelerated, busted and possible trends. (Reading time: 8 min)
Solutions to appease the crisis face political hurdles. A default or euro exit are possible. (Reading time: 8 min)
An out-there e-commerce company has become critical to China’s digital transformation. (Reading time: 4 min)
Q&A with former Federal Reserve governor. An expert’s assessment of how policymakers have reacted so far.
The dilemma can be framed as lives versus livelihoods; at its most pointed, lives versus lives.
(Reading time: 7 min)
A deep recession can’t be ruled out.
Gerald Stack provides an update on how he is protecting the capital of investors in Magellan's Global Core Infrastructure strategy from the impacts of covid-19.
Hamish Douglass provides an update on how he is protecting the capital of investors in MFG Asset Management’s Global portfolio from the impacts of covid-19.
Gerald Stack provides an update on how he is protecting the capital of investors in MFG Asset Managements's Global Select Infrastructure strategy from the impacts of covid-19.
From coronavirus and climate change, to cyber security issues and the upcoming US election, Hamish Douglass and Michael Morell tackle the top 10 most commonly asked questions from attendees at our annual MFG Asset Management Investor Roadshow. (Viewing time: 21 min)
But a breakthrough in sub-atomic computing might be a while off. (Reading time: 5 min)
Magellan’s Chairman and CIO, Hamish Douglass, shares his thoughts on the outlook for Global markets in 2020, before taking stock of Magellan’s progress and considering what might be ahead for the business in the coming decade. (Viewing time: 20 min)
Gerald Stack, Head of Infrastructure reflects on the fund’s success in 2019, where infrastructure sits in the hunt for yield, and where he sees opportunities in the year ahead. (Viewing time: 17 min)
But ethical and economic challenges could limit the benefits medtech brings to healthcare.
A German software pioneer focused on businesses that is expanding into cloud computing.
The decrepit and splintered US water system is an opportunity for the country’s largest listed water utility.
Policymakers are cooling to a business model that lowers wages and skirts regulations.
But prolonging a recovery with stimulus could lead to a worse slump later.
Dom Giuliano, Portfolio Manager, outlines Magellan’s investment approach and philosophy to sustainable and ESG investing. (Viewing time: 10 min)
Hamish Douglass gives his rationale for investing in China’s Alibaba, discusses the political risk of investing in China and assesses the US presidential race. (Viewing time: 21 min)
Gerald Stack explains why the portfolio holds more utilities, especially in the US, his reasons for pulling out of UK investments and what the rise of renewable energy means for the investment option. (Viewing time: 10 min)
The coming blow is the loss of one platform that offers just about everything subscribers want.
A France-based company with iconic luxury brands sought by the Chinese.
A US electricity and gas utility with a record of ‘delivering’ outperformance.
Their autonomy will prove superfluous in a low-inflation, stagnant world.
Such are the prospects for mainstream acceptance for something like Facebook’s Libra. But the hurdles are daunting too.
Hamish Douglass, the Portfolio Manager of the Global Equities Strategy, talks about the aims, process and risk controls behind the successful investment approach.
And why that matters for stock selection – in particular, the mix between defensive and growth stocks. (Viewing time: 12 min)
And why, even after recent rises, infrastructure valuations are still reasonable. (Viewing time: 10 min)
Its business model benefits from a more cashless world while being hard to disrupt.
A US electricity utility formed from a merger to save customers money.
Hamish Douglass talks with the AFR’s Tony Boyd about the trade war, Brexit, market volatility and how to identify what's relevant and what's noise. (Viewing time: 26 min)
The telling blow is the damage wrought on local newspapers.
The response in time is likely to be more regulation.
Hamish Douglass, CIO and Lead Portfolio Manager, talks about why the risk that the Federal Reserve will boost US interest rates is abating and discusses the forces that have turned consumer staples into riskier plays.
Ofer Karliner, Portfolio Manager in the Infrastructure team, discusses what the higher interest rates mean for infrastructure stocks, how climate change is a risk for utilities and the place of dividends in portfolio returns.
Independent Investment Research (IIR) provides a detailed overview of the single unit structure. One Fund Accessed Two Ways.
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"In today's modern world, people are either asleep or connected." - Janice Reinold, Rosetta Marketing
Today, airports around the world collectively cater for more than four billion passengers annually, with growth driven by the expansion of the middle class combined with the declining cost of air travel. For most investors, the listed market is the only way to gain access to the airport infrastructure that has underpinned this growth.
We often observe generalist market commentators suggesting that the share prices for toll roads and infrastructure stocks are stretched. Analysis of these conclusions suggest that they are underpinned by crude valuation measures that fail to account for the unique characteristics of these assets. In this note, we talk about our approach to valuing toll roads and how it differs from approaches that are often applied to valuing equities.
Regulated utilities are known for their ability to generate predictable returns regardless of market conditions.
For this reason, we often describe utility stocks as the ‘lead in the keel’ of our infrastructure portfolios. They allow us to navigate volatile global equity markets with confidence.
Investors who can see the benefits of holding global infrastructure assets face an early decision; choosing between listed and unlisted infrastructure assets.
The force behind the KFC, Pizza Hut and Taco Bell fast-food juggernauts.
An ASX-listed toll road company with foreign assets.
But security and political concerns could delay, distort and add costs to its deployment.
Favourable economics and greater security foster the sharing of remote IT resources. The practice is largely controversy free.
But the social costs tied to amateur online gaming could hamper their growth.
Delivering consistent and attractive long-term returns thanks to a long-term efficiency drive.
Gerald Stack, Head of Investments and Head of Infrastructure, discusses a number of geopolitical risks and how he positions the fund to protect capital in these volatile markets. (Full viewing time: 9min)
The software giant in the Nadella era is strengthening its hold on the business world.
Netwealth Portfolio Construction Podcast: A deep-dive on infrastructure investing with Ofer Karliner, Magellan Asset Management. Discover what infrastructure investing is, its benefits for a portfolio and when we should expect driverless cars on our roads.
Another eurosceptic and indebted country is testing Brussels’s power over the eurozone project.
Stocks are vulnerable if interest rates rise much faster than expected on inflation concerns.
They want to inject themselves between banks and their customers in the most profitable areas.
The analysis has three prongs. Only one would console the UK – but with a twist.
The consumer-goods multi-national thinks health brands will help in a disruptive world.
The natural gas company stands out because its high earnings growth is unusual for a utility.
Gerald Stack, Magellan’s Head of Investments and Head of Infrastructure discusses a number of key themes in the portfolio at present. He puts a spotlight on Transurban’s recent successful bid for Sydney’s WestConnex, discusses in detail what the Morandi Bridge collapse in Genoa could mean for Atlantia and also explains his concerns around UK utilities and the risks associated with a possible snap election if one were called.
Six challenges, however, are testing the effectiveness of their emotional pitches.
Digital ledgers promise less-landmark innovation but benefits aplenty for the regulated world – if aptly used.
The past 12 months have seen a myriad of geopolitical issues from Trump policies to Brexit and various European elections. Gerald Stack, Head of Investments and Head of Infrastructure, discusses what concerns him most looking forward and how he’s protecting his portfolio accordingly.
A new shareholder is driving a challenge to The Home Depot’s No. 1 ranking in the US home-improvement market
The company is aéroports de Paris at its core
With US / China trade agitations in the headlines, hear from Hamish Douglass (CEO and CIO), as to how he views various scenarios playing out and what the likely impacts could be on markets.
It will help China in its quest to gain AI supremacy over the US.
But foreign companies face new political risks when pursuing Chinese consumers.
The concern is that the political ramifications might nullify automation’s economic benefits for society.
Hamish Douglass, Magellan’s CEO and CIO, discusses and dismantles some perceptions in the market around the recent performance, and why its incorrect to view our Global Strategy as US centric.
Listen to Hamish Douglass, Magellan’s CEO and CIO, share his views on the FAANGs, in particular the unfolding Facebook and the Cambridge Analytica situation.
Rising US interest rates have caused the infrastructure sector to lag during the quarter.
But Big Data’s complexities prevent society gaining the full benefit from information collected in cyberspace.
But no major societal change occurs without ripples, risks or controversy as the rise of cryptocurrencies shows.
Elysse Morgan from the ABC interviews Hamish Douglass, CEO of Magellan, on the day of the company's results.
Inflation has not been a concern of late for investors. But rising prices could become an issue once again given that the US economy is at full employment levels and still growing strongly.
Cafés offering personalised choice that have gone global
But the ‘Amazon effect’ has been less disruptive at an economy-wide level.
A leaner consumer brands giant is looking to expand under the management of a Brazilian private-equity group.
Sometimes the winners and losers from disruption aren’t obvious
Yet most of the tech giants are still attractively priced
Live from The Westin, Sydney - September 2017
The infrastructure team discusses current portfolio positioning and what affect tech disruptions could have on toll roads and if utilities.
Why the industrial internet will reverse globalisation
The question is how quickly they become mainstream. There are many challenges.
Hamish Douglass, the Lead Portfolio Manager of Global, discusses the best and worst investments of the past decade and why you can’t judge country exposure on where stocks are listed.
Q&A with Hamish Douglass, Lead Portfolio Manager of the Magellan Global Fund, on the first 10 years of the fund.
Hamish Douglass, Lead Portfolio Manager for Global, on why technological advancements might disrupt the two premises on which passive investing is based.
The worth of the internet will be at stake if systems can’t be protected to the point the public lose confidence.
Regulated utilities are known for their ability to generate moderate but predictable returns regardless of market conditions.
The world’s core social platform keeps getting bigger on key measurements such as user numbers and time on site.
The company is more than a seller of devices such as the iPhone. It’s about the services you access through them.
Its core asset is Google. There’s more to the company than that including self-driving cars and secretive ‘moonshot’ programs.
A demand for mobile data usage expands so too will the investment value of this new essential infrastructure.
The move towards a cashless world is helping a company with 3.1 billion cardholders.
To be a successful long-term investor, you need to overcome the biases that lead to poor decisions.
Microsoft is a household name. But it’s the company’s dominance of the business world that matters.
The forces behind the growth in air travel are what make airport operators worthwhile investments.
The company’s brainwave was to invest a way to buy over the internet without handing over credit-card details with every purchase.
Make sense of the global investment landscape with timely updates, articles and videos from our investment experts.