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Weekend AFR: Paul Biddle talks reporting season

Celeste Funds Management portfolio manager, Paul Biddle, says investors are factoring in too much growth. “The sharemarket appears to be baking in earnings-per-share growth of about 10 per cent for each of the next two financial years. We don’t see that happening.”

This communication has been issued by Celeste Funds Management Limited (ABN 78 098 628 605; AFSL 222 445) which is authorised to provide financial services to wholesale clients. The content of this communication is factual information only and is not to be construed as financial product advice. The Trust Company (RE Services) Limited (ABN 45 003 278 831, AFSL 235 150) (Perpetual) is the Responsible Entity of and issuer of units in the Celeste Australian Small Companies Fund (Fund). Retail clients can invest in units of the Fund issued by Perpetual. Perpetual is authorised to deal with retail clients and a product disclosure statement (PDS) issued by Perpetual is available for the Fund at https://www.celestefunds.com.au/wp-content/uploads/2022/09/CASCF-PDS.pdf. You should obtain and consider the PDS as well as the the Fund’s Target Market Determination (https://documents.feprecisionplus.com/tmd/PCT/TMD/N8Z8-FAM0101AU.pdf) before deciding whether to acquire, or continue to hold, an interest in the Fund.