Category: In the press

AFR:ASX supports JPM chair Rob Priestley

The ASX has expressed confidence in former JPMorgan chief executive officer Rob Priestley, who headed the investment bank’s local division when the broker underwrote ANZ’s botched $2.5 billion capital raising that has triggered a cartel case against the bank and JPMorgan’s joint lead underwriters on the transaction.

Atlas Funds Management’s Hugh Dive.

“In a book-build everyone is trying to work out what the truth is, but one is expecting anyone to be telling the exact truth. If you’re a fund manager you are back and forth on the phone trying to work out what the real demand for the new IPO or placement really is before bidding. If you get the full allocation you asked for, then you have misjudged demand and are likely to lose money when the stock re-opens trading at a lower amount.”

ASX supports JPM chair Rob Priestley

The ASX has expressed confidence in former JPMorgan chief executive officer Rob Priestley, who headed the investment bank’s local division when the broker underwrote ANZ’s botched $2.5 billion capital raising that has triggered a cartel case against the bank and JPMorgan’s joint lead underwriters on the transaction.

 

Torpedo Tuesday – JB Hi-Fi (Swings and Roundabouts Ep. 183)

JBH has doubled revenue over the last five years with steady growth, acquisitions and over-hyped impact of Amazon arriving in Australia. Hugh Dive from Atlas Funds Management unpacks JBH for investors, identifies the areas of concern and makes the call of whether JBH is an investment to be made today.

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Torpedo Tuesday – 5 June 2018 – JB Hi-Fi (Swings and Roundabouts Ep. 183)

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AFR: CSL delivers profit upgrade on better sales

Atlas Funds Management chief investment officer Hugh Dive said that after the latest upgrade CSL was trading on around 35 times forward earnings. Mr Dive, who is a major shareholder, cautioned that a lot of the good news was already priced into the stock.

“There are three things to the upgrade: Seqirus is performing well, higher than expected sales of the two specialty plasma products and the phasing of investment in the heart attack clinical trials – so two of three are considered to be high quality components,” he said.

“Of the $US130-odd million upgrade, the market would like to know what is the contribution of new sales revenue versus timing spend on the clinical trials, a cost which is being shifted into 2019.”

CSL delivers profit upgrade on better sales, flu season

CSL has delivered its second profit upgrade this year on improved sales of its hemophilia drugs and a bad northern hemisphere flu season, propelling its share price to a record high and and market capitalisation above that of two of the four big banks.

 

Will property prices fall?

Tighter lending requirements and talks of falling house prices has investors and home owners alike asking whether prices are set to fall further. Hugh Dive from Atlas Funds Management applies an ASX Listed property analyst’s perspective to assess the leading economic indicators and today’s market data to find the answers.

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