Australian Eagle’s Sean Sequeira says the fund’s focus on “inflection points” in a company’s strategy has underpinned its sustained performance.
The annual league table of Australia’s top fund managers always provides a window into the mood of the market, and the list for the 2023 financial year is a perfect example. speaks to the volatility and changes in style leadership the local market has seen over the last 12 months.But few investors have a one-year time frame, and Chanticleer is always fascinated to find the stayers who can deliver a sustained period of strong performance.
Recent top performers also fit the bill. Insurer QBE went from a market darling under former boss Frank O’Halloran to a laggard during several years of underperformance, but a few years ago Sequeira and his team believed they could see signs the company was finding its mojo again. While the fund’s top 10 holdings have a very blue-chip feel right now – Commonwealth Bank, Rio Tinto, CSL, Woodside and Macquarie Group are all there – Sequeira says this reflects the volatility that has buffeted the ASX in recent months, both between sectors and in sectors.
Companies that Australian Eagle believes are maintaining the quality of their earnings will stay in the portfolio – CBA, which Sequeira and his team bought following the AUSTRAC scandal in 2018, is a good example – but any stock can be removed from the portfolio at any time.Market darling CSL is another good example.
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