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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.
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 US electricity and gas utility with a record of ‘delivering’ outperformance.
A France-based company with iconic luxury brands sought by the Chinese.
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.
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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.
"In today's modern world, people are either asleep or connected." - Janice Reinold, Rosetta Marketing
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.
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.
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.
A new shareholder is driving a challenge to The Home Depot’s No. 1 ranking in the US home-improvement market
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.
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.
The company is aéroports de Paris at its core
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.
But the ‘Amazon effect’ has been less disruptive at an economy-wide level.
Cafés offering personalised choice that have gone global
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.
Q&A with Hamish Douglass, Lead Portfolio Manager of the Magellan Global Fund, on the first 10 years of the fund.
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.
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.
Microsoft is a household name. But it’s the company’s dominance of the business world that matters.
To be a successful long-term investor, you need to overcome the biases that lead to poor decisions.
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.