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Ellerston Asian Investments

Fund Manager: Ellerston Capital
Inception Date: Sep 01, 2015

This is a guest post from Steve Green. Steve is a full-time investor with a focus on LICs, event-driven and activist investing. You can follow some of his ideas at his investment blog at Author’s note: In compiling this article I have used data as at 25th April, 2018. Recently I was checking out Morphic Ethical Equities Fund (MEC) and observed how fickle the premium / discount to NTA can behave. It is almost one year since listing and this type of pat ... [More]

Time for global active managers to outperfor ...

Steve Green from - Aug 24, 2017

This is a guest post from Steve Green. Steve is a full-time investor with a focus on LICs, event-driven and activist investing. You can follow some of his ideas at his investment blog at Most investors probably have an inkling that active fund managers are not doing a stellar job when it comes to outperforming the S&P 500 of late. Sometimes a chart is worth a thousand words, and here is one that ought to grab the attention of those with a penchant towards a mean revers ... [More]

Value fund manager Ellerston Capital has emerged as a sub­stantial shareholder in catering and facilities management group Spotless, banking on a turnaround for a company whose shares crashed 40 per cent last December following a profit warning. The Ellerston stake in Spotless, purchased by the fund run by equities specialist and former Packer family executive Chris Kourtis, was bought at prices ­between $1.06 and $1.20. Spotless shares are now trading at $1.16, down from the $2.47 mark they hit in April last year. Spotless, now run by former KPMG partner Martin Sheppard, revealed at the end of May it was exploring a potential sale of its laundries business after receiving approaches from prospective ­buyers. It has been reported ­private equity firms Affinity, Quadrant, Champ and Archer Capital had expressed interest in the sales process for the $400 million-plus division that form­ally launched last week. [More]

How to invest in emerging markets

Financial Review - Jan 29, 2016

Investors typically use specialist managed funds for emerging markets exposure, but a growing number of exchange traded funds and listed investment companies also provide exposure, and online brokers are making it easier to buy offshore shares directly. Here are four strategies to consider. [More]

Ellerston sees markets sell-off as a healthy development

Sydney Morning Herald - Jan 26, 2016

Ellerston Global Investments, the listed investment company managed by Ellerston, predicts that returns in equities will "moderate" as investors adjust to the end of a seven-year bull market and face the challenges of deteriorating macro conditions and slower earnings growth. The fund manager is not troubled, however, saying great opportunities will appear as markets sell off.  "With the backdrop of a Federal Reserve rate increase, sluggish earnings growth and concerns over the US economy, markets are experiencing a [price-earnings ratio] derating," Ellerston said in a report to clients. "The last leg of US EPS growth was largely driven by accelerating corporate buybacks. [More]

More global LICs needed to satisfy investor demand in 2016

Sydney Morning Herald - Jan 08, 2016

Listed investment companies may launch more global funds this new year as jittery investors chase international exposure, seeking respite from record-low interest rates and losses from the local sharemarket.  Nathan Umapathy, research analyst at Bell Potter Securities, said there remained a "huge gap" in available international LIC products for Australian investors looking to diversify their portfolios.  With more than $75 billion already wiped off the local bourse since the start of this year, investors may soon be knocking on the doors of fund managers and LICs for more global muscle. [More]

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