Investor Insights

In this section we explore investing basics, common themes and information to help guide your investing journey. 

The information provided is general information only. The information does not take into account your investment objectives, financial situation or particular needs. You should consider your own investment objectives, financial situation and particular needs before acting upon any information provided in this document and consider seeking advice from a financial adviser if necessary.

July 11, 2019

Who’s selling you that stock?

Being successful as an investors requires finding and capitalising on inefficiencies in the market. Perhaps the biggest source of market inefficiency remains the human being – optimism or pessimism – leaving mispriced securities in our wake. Are you paying attention to all relevant information? Or are you over-extrapolating from recent results, leading to unrealistic expectations?
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June 18, 2019

Finding value, the marginal return on capital

In assessing the value of a company, the market tends to focus almost exclusively on the outlook for earnings growth. While obviously important, this ignores other variables that are equally relevant in determining whether a stock represents a good investment from both a quality and a valuation perspective.
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June 17, 2019

How we assess value

  In this week’s video insight Andreas shares our valuation framework for assessing a company. Our framework is based on the concept of intrinsic value, where we form a view of what a business is worth and then compare that valuation to what the market is prepared to pay.  How does our approach differ to other investors?
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June 13, 2019

A closer look at distributions

By Dean Curnow

It is everyone’s favourite time of year, and for those not in financial services, I am not referring to the peak of winter, I am referring to 30 June. Across the Montgomery suite of strategies, some of our actively managed equity funds will look to pay a distribution come 30 June.
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May 30, 2019

Pick the right indicators

Investing often requires the forecasting of variables such as revenues and earnings. Every forecast is subject to (often immense) uncertainty, and the vicissitudes of the future can throw even the most well-thought out estimate far off the mark.

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May 20, 2019
WHITE PAPERS

Why invest in a market neutral fund

One of the things that characterises sophisticated investors is the way they use investment strategies that are designed to produce returns uncorrelated with equity market returns. These strategies include market neutral strategies, which are designed to profit from both increasing and decreasing prices in one or more markets, while also avoiding systemic market risk.
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May 13, 2019

The magic of uncorrelated returns

Most investors have an intuitive sense of the benefits of diversification: it’s easy to see how having all your eggs in one figurative basket could end very badly if the chosen basket were to hit the rocks at some point and most people are more comfortable spreading things around a bit to achieve more consistent and predictable results.
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May 6, 2019

The hunt for red herring

A “red herring” is known as something that distracts from a more important area of focus. There are numerous different attributions to the etymology of this saying.
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May 2, 2019

Keeping an eye on the dividend

Australian investors love their dividends, especially fully-franked dividends that can offer an appealing effective rate of income compared with fixed-interest alternatives, and it’s easy to understand why.
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May 1, 2019

What are the advantages of an actively managed fund?

When you invest in a managed fund, your money (together with all other investors’ monies) is gathered in the one place and invested in assets.  Managed funds provide private investors with access to markets and strategies that rely on economies of scale.   For the funds on this website, Montgomery is the investment manager.
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April 29, 2019

All things Exchange Traded Managed Funds

In December 2017, Montgomery launched the Montgomery Global Equities Fund (Managed Fund) (ASX: MOGL).   The Fund is an Australian registered managed investment scheme and unit trust, where each investor’s money is pooled with other investors’ funds. Each Unit represents an equal share in the net assets of the Fund. What is an active Exchange Traded Managed Fund?
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