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Small cap reporting recap

Thursday, September 5th, 2019

The Clime Small Cap Sub-Portfolio results were more or less consistent with our forecasts with no big surprises. Nevertheless the market reacted very strongly in some cases. We will provide updates for each holding in coming weeks. But we’ll start with... Continue reading

Comfortable and Relaxed – Not

Thursday, September 5th, 2019

Do you sometimes get the feeling that life’s certainties, the things we usually take for granted, are actually quite uncertain? That the activities we all do daily, like breathing clean air, or perhaps walking to your office in the city,... Continue reading

Company Update: Lovisa

Tuesday, September 3rd, 2019

Lovisa is a highly profitable and well-managed business with a global store rollout which is fully funded by free cash flow. The business currently has net cash and generates an ROE of 75%, gross margin of 80% and EBIT margin... Continue reading

Trade surplus – But who cares?

Friday, August 30th, 2019

Australia is lucky that President Trump does not rule the world, for he would claim that our massive FY19 trade surplus would need to be curtailed. The trade surplus is mainly generated with China through our massive commodity and energy... Continue reading

Market Wrap: In the thick of reporting

Friday, August 30th, 2019

Company reporting has been coming in thick and fast this past fortnight for the Clime Analysts. We managed to pry them away from the phones and screens to bring you this brief update on recently reported companies – Seek, Audinate,... Continue reading

Ramsay delivering healthy income

Wednesday, August 28th, 2019

The significant compression of already historically low interest rates across many developed markets, including Australia, has left many investors scrambling for access to lower risk sources of sustainable income. This further enhances the relative attractiveness of good quality, higher-yielding opportunities... Continue reading

Company Update: IMF Bentham

Thursday, August 22nd, 2019

Australian global litigation funder IMF Bentham (ASX:IMF) was a recent Small Cap addition to the ASX Model Portfolio. Clime last held IMF over 2016 and 2017, and we believe now is a good time to hold again. IMF is a... Continue reading

Bonds in a bind

Tuesday, August 20th, 2019

Over recent weeks the trade war ebbed and flowed, Hong Kong erupted in more protests, both the UK and Germany teetered on recession, New Zealand’s central bank stunned markets by dropping its benchmark rate by 50 basis points , Thailand... Continue reading

Market Wrap: Reporting season kicks off

Thursday, August 15th, 2019

The August Reporting Season had barely begun before the Trump Administration escalated its trade war with China, announcing new tariffs on Chinese imports. This is now dominating the Reporting Season with very heavy falls on the ASX. In this week’s... Continue reading

Company Update: Wellcom

Wednesday, August 14th, 2019

Creative production and marketing services company Wellcom (ASX:WLL) kicked off the August reporting season with a gift for shareholders, announcing on 31 July that it had entered into a Scheme Implementation Agreement under which it will be acquired by Korean... Continue reading

Refreshing your investment shortlist

Thursday, August 8th, 2019

In recent weeks, the Clime Investment Management team has focused on updating our shortlists of potential investments. This is an integral part of the Clime investment process and a useful discipline for all investors. Key benefits of this process include:... Continue reading

New CEO adds to NAB’s recovery trend

Thursday, August 8th, 2019

NAB shares are at 11-month highs after the appointment of Ross McEwan as CEO to start by April 2020. Formerly head of Commonwealth Bank’s retail bank, Ross left Australia to become CEO of Royal Bank of Scotland after missing out... Continue reading

Dancing near the edge

Thursday, August 1st, 2019

US economic expansion becomes longest in history. This bull market has been built on low rates. Is time up? The US economy is enjoying its longest uninterrupted stretch of expansion since the 1850s, despite the eurozone crisis, slowdown in China,... Continue reading

Is Coles a long-term yield play?

Wednesday, July 31st, 2019

The investment quality and portfolio role of the market’s newest large-cap stock became clearer recently. Coles Group, which demerged from Wesfarmers and listed on the ASX in November last year, recently held its inaugural strategy day. Coles committed to a... Continue reading

A new model position – Woodside Petroleum

Thursday, July 25th, 2019

Recently, we initiated a position in Woodside Petroleum (WPL) within the Clime Direct Model Portfolio. We managed to acquire a share in the business below our FY19 equity multiple valuation – this value can vary quite widely with the USD/AUD... Continue reading

How is HUB24 placed for the low cash rate environment?

Thursday, July 25th, 2019

After reaching a high of $15.55 in May, the HUB share price has since fallen 24% to the price at the time of publishing of $11.80. This is now the sixth time that the HUB share price has fallen below... Continue reading

Mid Year Investor Briefing

Thursday, July 18th, 2019

 Clime recently wrapped up the Mid Year Investor Briefings which were conducted over two weeks in all major cities across Australia. These events are a fantastic opportunity to meet our investors and provide insights into major changes and events... Continue reading

Hansen acquisition could boost share value

Thursday, July 4th, 2019

In early June, Hansen Technologies (ASX:HSN) completed an A$166m acquisition of Canada-based Sigma Systems. This was HSN’s largest acquisition to date, funded via a new A$225m facility. We initially included HSN in the Clime Direct Model Portfolio because it was... Continue reading

Growing the MQG position

Wednesday, July 3rd, 2019

On 14 June we added to our newly initiated Macquarie Group position in the Clime Direct Model Portfolio. In our last report, we explained the investment quality we see in MQG. Today we summarise our thesis below. In summary, the... Continue reading

China-US trade negotiations roll on

Tuesday, July 2nd, 2019

At this point, markets seem relatively relaxed as they regard it as quite likely that US-China trade talks will get back on track, whilst doubting that a deal can, in fact, be struck before the end of the year. This... Continue reading

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The information provided on this webpage and the rest of clime.com.au is intended for general use only. The information presented does not take into account the investment objectives, financial situation and advisory needs of any particular person nor does the information provided constitute investment advice. Under no circumstances should investments be based solely on the information herein. Please consider our Information Memorandum, Product Disclosure Statement and Financial Services Guide before investing in one of our products. Past performance is no guarantee of future returns.
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