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Insights

Reporting season wrap up - will 2023 bring gains for Australian equities?

Market Insight
March 7, 2023

Chief Investment Officer, Sean Fenton and Portfolio Manager, James Delaney discuss how the current market backdrop is impacting Australian equities, including the sectors well positioned for the year ahead.

Topics covered

  • 00:00 – A recap on how we invest in a style-neutral way and a comprehensive wrap-up on the winners and losers from the recent reporting season, including the sectors, stocks and themes that stood out.
  • 17:00 – The secular shifts driving markets with a look at the transitory vs sticky inflation debate and how services pricing has been impacted by labour markets and wages growth.
  • 28:15 – We look at the valuation effects of rising interest rates for growth stocks and the performance of the S&P/ASX 200 by each Sage Group over the 12 months to 31 January 2023 - with Resources leading and REITs lagging.
  • 36:40 – What has helped drive returns over the last 12 months and a look at the contributors to return by Sage Group for the CC Sage Capital Absolute Return Fund over this period.
  • 38:40 – The 2023 outlook for markets, how will the forces of sticky inflation, the re-opening of China and elevated developed market recession risk play out in equities markets this year.
This information is for wholesale and professional investors only and has been prepared by Sage Capital Pty Ltd ACN 632 839 877 AR No. 001276472 (‘Sage Capital’). Channel Investment Management Limited ACN 163 234 240 AFSL 439007 (‘CIML’) is the responsible entity and issuer of units in the CC Sage Capital Equity Plus Fund ARSN 634 148 913 and the CC Sage Capital Absolute Return Fund ARSN 634 149 287 (collectively ‘the Funds’). Channel Capital Pty Ltd ACN 162 591 568 AR No. 001274413 (‘Channel’) provides investment infrastructure services for Sage Capital and is the holding company of CIML. This information is supplied on the following conditions which are expressly accepted and agreed to by each interested party (‘Recipient’).
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This information contains general financial product advice only and has been prepared without taking into account the objectives, financial situation or needs of any particular person. It is intended solely for wholesale clients (including sophisticated investors) as defined under sections 761G and 761GA of the Corporations Act 2001 (Cth).

The information provided should not be considered personal advice, a recommendation, or an offer to invest in the Funds. Recipients should not rely on this information in making investment decisions. A Recipient should, before making any investment decisions, consider the appropriateness of the information, and seek professional advice.

Neither Sage Capital, Channel, CIML or their representatives and respective employees or officers (collectively, ‘the Beneficiaries’) make any representation or warranty, express or implied, as to accuracy, reliability or completeness of this information or subsequently provided to the Recipient or its advisers by any of the Beneficiaries, including, without limitation, any historical financial information, the estimates and projections and any other financial information derived there from, and nothing contained in this information is, or shall be relied upon, as a promise or representation, whether as to the past or the future. All investments contain risk. Past performance is not a reliable indicator of future performance.

For further information and before investing, please read the Product Disclosure Statement and Target Market Determination which is available from www.channelcapital.com.au
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