Investor Insights

September 27, 2022

Reporting season in review – a small companies perspective

By Michael Gollagher

Leading into reporting season this year, it felt more critical than usual from an investor’s perspective. This was driven mainly by the ever-changing macro backdrop which at this point in time could be argued is driving share prices more so than company fundamentals. The second key point to consider is the operating period over which reporting season resides.
Read Article
September 26, 2022

Aura Private Credit: Letter to investors 26 September 2022

By Brett Craig

The Reserve Bank of Australia has released a renewed paper reviewing how small to medium enterprises (SMEs) access funding. This report comes off the back of a July meeting with the Small Business Finance Advisory Panel, providing an update on the current state of the SME finance market.
Read Article
September 23, 2022

Why the risk-reward ratio is looking good for quality small caps

By Roger Montgomery

Since January, world markets have been selling off. As a result, a number of quality small cap businesses are now trading at very attractive multiples. Is now a good time to invest in quality small caps? Back in June, I asked the question in my whitepaper: are we there yet.
Read Article
September 13, 2022

Fintech SME lending in Australia

By Brett Craig

Fintech-based lenders have emerged since the introduction of the peer-to-peer platform Zopa in the United Kingdom in 2005. Fintech lenders aim to reduce friction in the borrowing process for their customers, reducing the turnaround time from application to funding and offer products which best suit the borrowing needs of the customer.
Read Article
September 12, 2022

Aura High Yield SME Fund: Letter to investors 09 September 2022

By Brett Craig

The RBA has raised rates for the fifth month in a row bringing the cash rate to 2. 35% with the expectation of reining in inflation by the end of the year. Largely in line with market expectations, the RBA raised the cash rate by 50 basis points. This is the highest cash rate since early 2015.
Read Article
September 12, 2022

Why we are underweight consumer discretionary companies?

By Roger Montgomery

There are no doubts some extraordinary businesses exist in the Australian consumer discretionary sector. Names like ARB, Nick Scali, JB Hi-Fi and Lovisa jump to mind as soon as talk turns to the consumer. But as we examine the shape of our portfolios, one glaring active weight is the underweighting we have to consumer discretionary companies.
Read Article
September 5, 2022

Aura High Yield SME Fund: Letter to Investors 02 September 2022

By Brett Craig

The retail trade and APRA July 2022 data released this week provided more data to support RBA hikes in the coming months. This week the ABS released data for retail trade turnover and volume. This dataset includes references to retail businesses including stores and online sales.

Read Article
September 5, 2022

August reporting season wrap

By Roger Montgomery

In the wash-up of the FY22 reporting season a significant amount of focus has been directed to the proportion of companies that beat, met or missed expectations. Roughly 30 per cent of companies beat analyst forecasts, slightly more than 41 per cent were in line with estimates, and the remaining 29-odd per cent missed estimates.
Read Article
August 31, 2022

The REA Group wild share price ride

By Roger Montgomery, Roger Montgomery

For a company with such high quality, REA Group (ASX:REA) has experienced an amazing share price range in the last twelve months. On 5 November 2021 REA hit a market capitalisation of $23. 9bn when somebody paid $180. 67 per share. Just seven months later, the share price hit $93. 77 giving the company a market value of $12.
Read Article
August 26, 2022

Aura High Yield SME Fund: Letter to Investors 26 August 2022

By Brett Craig

It was a relatively quiet reporting week from an economic and market perspective. Sometimes less news is good news!   This week the ABS released the counts of Australian businesses, which outline the number of actively trading businesses, rates of entry to exit from the market sector of the economy and the rates of business survival.
Read Article
Previous Page Next Page

Funds

View all funds

Digital Assets

Australian Equities

Income