Videos: Webconferences

Australian Equities - Investment Update


Andrew Fleming

Andrew Fleming

Deputy Head of Australian Equities

Current earnings multiples for the Australian market exhibit an extreme spread ranging from dangerously high for technology focused industrials to exceptionally low for resources. After several years of strong returns a number of traits characteristic of the boom of 2006 through 2008 (prior to the GFC) are also evident in the current market. In particular, earnings growth is muted and price momentum appears to be king with last month’s outperformers typically the best predictor of next month’s. As the GFC reminded us, this is not sustainable. Andrew Fleming, Deputy Head of Australian Equities, provides his perspective on the issues driving markets and where he sees the real opportunities.

View webconference

Important Information:
Opinions, estimates and projections in this article constitute the current judgement of the author as of the date of this article. They do not necessarily reflect the opinions of Schroder Investment Management Australia Limited, ABN 22 000 443 274, AFS Licence 226473 ("Schroders") or any member of the Schroders Group and are subject to change without notice. In preparing this document, we have relied upon and assumed, without independent verification, the accuracy and completeness of all information available from public sources or which was otherwise reviewed by us. Schroders does not give any warranty as to the accuracy, reliability or completeness of information which is contained in this article. Except insofar as liability under any statute cannot be excluded, Schroders and its directors, employees, consultants or any company in the Schroders Group do not accept any liability (whether arising in contract, in tort or negligence or otherwise) for any error or omission in this article or for any resulting loss or damage (whether direct, indirect, consequential or otherwise) suffered by the recipient of this article or any other person. This document does not contain, and should not be relied on as containing any investment, accounting, legal or tax advice. Schroders may record and monitor telephone calls for security, training and compliance purposes.