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RIO: Strong balance sheet and solid free cashflow

Paradice Australian Large Cap , Paradice Investment Management , Reporting Season
Published on 27 February 2020 Reporting season update saw RIO reported underlying NPAT of US$10.4bn, up 18% year on year. This was largely in line with our estimates as well as consensus. The balance sheet finished the year in a strong position with US$3.6bn of net debt (this was better than expected however seems largely timing related with a tax...

Like buying Xero four years ago

Global Small Cap , Paradice Investment Management
Published 7 February 2020 "Do you ever wish you'd bought Xero four years ago - before the price increased six-fold? Well, you may not be able to turn back the clock, but there's nothing stopping you looking for early-stage versions of Xero, or other local winners, in offshore markets." Paul Mason was featured in this article by Livewire to pick...

How China is leapfrogging the West

Global Emerging Markets , Investment opportunities , Paradice Investment Management
Published on 6 February 2020 Mobile payment penetration in China is over 80%, well ahead of the West. So ubiquitous is the technology that beggars on the street often use QR codes rather than asking for change. Michael Roberge, Co-Portfolio Manager of the Global Emerging Markets Fund says that large, innovative companies like Alibaba and Tencent are “changing the game” for...

Why the fundies never sell these stocks

Global Small Cap , Paradice Investment Management
Published on 4 Feb 2020 Livewire went to their partnering global managers and asked them what the longest standing position in the fund is, and whether it still has long-term potential. Read on to hear from Paul Mason, our Analyst from the Global Small Cap team for his insight. ITT Inc (NYSE:ITT) is a US$ 5.8 billion market cap US-listed Industrial...

Loyal but unloved: 3 stocks craving your attention

Global Small Cap , Paradice Investment Management , Stock opportunities
Published 30 Jan 2020 Paul Mason, Analyst from the Paradice Global Small Cap team was featured in the recent article published by Livewire discussing the most underappreciated stock in their portfolio and why it is a hidden gem in offshore equity markets. Equiniti: Similar to Computershare but faster-growing and cheaper Shareholder services provider Equiniti Plc is a long-term UK holding...

Are emerging markets cheap?

Business Quality , Global Emerging Markets , Paradice Investment Management , Risk Management , Sector Analysis
Published 29 January 2020 On the surface, emerging markets appear to be significantly cheaper than developed markets. Emerging markets trade at a forward PE of ~12x, compared to ~18x for developed markets. But dig deeper, and a different story emerges. Edward Su, Co-Portfolio Manager of the Global Emerging Markets explains that when broken down to a sector level, it’s clear that...

Could Alibaba be set for a re-rate?

Global EmergingMarkets , Paradice Investment Management
Published on 21 January 2020 Alibaba is often said to be ‘the Amazon of the east’, and here again, this rings true. However, according to Edward Su from Paradice, Alibaba’s cloud business is not yet fully appreciated by the market. In this short video, Su discusses another company with similar attributes that’s not yet widely known among investors. Source: https://www.livewiremarkets.com/wires/could-alibaba-be-set-for-a-re-rate  

Where to find growing companies at a reasonable price

Global EmergingMarkets , Investment opportunities , Paradice Investment Management
Published 13 January 2020 Edward Su and Michael Roberge have worked together on emerging markets portfolios for six years now. David Paradice believes they embody the principles of accountability, responsibility, and performance that he’s always looked for in the other Paradice funds. In this video, Edward, Michael, and David discuss how they filter their investment universe down to identify pockets...

Five key takeaways on the Global Small Cap Sector

Global Small Cap , Paradice Investment Management , Value Investing
Published on 15 November 2019 At a recent boardroom briefing, the Paradice Global Small Cap Fund team discussed their views on what’s influencing movements in the small-cap sector. They said two main themes are occurring: global low interest rates have inflated asset prices to historical records and there has been an apparent shift from growth to value investing. Click here...