Latest News
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Stock Insight – Reece Group
A look at Reece Group post the recent Morsco acquisition and how the stock fits into the Celeste investment process.
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AFR: Paul Biddle talks Netwealth and the Banking Royal Commission
Celeste Funds Management portfolio manager Paul Biddle also believes the likes of Netwealth (in which his fund is invested) have further to run, despite the dear price tag on the shares.
He says the market has “just started to realise” that if you get $10 billion peeled out of the $140 billion or so managed by AMP, and if that $10 billion is split up between the small independent platforms, that’s a hefty potential extra $3 billion on top of Netwealth’s $15 billion on its platforms now.
“Nobody has factored in any step-change,” Biddle says.
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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.”
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Monthly Update – January 2018
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Change of Company auditor
Deloitte Touche Tohmatsu, has resigned as auditor of Celeste Funds Management (the Company).
At the Company’s AGM on 28 November 2017 shareholders voted in favour of appointing Grant Thornton Audit Pty Ltd as the new Company auditor.
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Weekend AFR: Callum Sinclair on favoured small cap retailers
Callum Sinclair talks to Weekend AFR about opportunities the fund is seeing in Nick Scali at $6.13 and The Reject Shop at $4.13.
http://www.afr.com/personal-finance/shares/5-retail-stocks-that-fund-managers-rate-20171026-gz8l1c
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Martin Byers joins Celeste as Senior Investment Analyst
Celeste Funds Management has appointed Martin Byers as a Senior Investment Analyst. Martin has been an Executive Director & Head of Emerging Companies Research at UBS Australia for the past 10 years.
Martin has a long history in successfully analysing Australian smaller companies as well as substantial experience in international markets. Martin previously spent 5 years with US based fund manager Principal Global Investors, 3 years in New York, working as a Senior Equity Analyst covering industrial and technology stocks.
Concurrent with Martin’s appointment, Celeste today also announced that Senior Investment Analyst, Paul Biddle, will formally move to the position of Portfolio Manager. Paul will continue to work with Frank Villante on the construction and management of the firm’s portfolios, as has been the case for a number of years.
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G20 Signatory
Celeste has become a signatory to a letter from global investors to governments of the G20 Nations urging them to continue to publicly express their commitment to support climate finance to both mitigate and adapt to the effects of climate change.
Read the letter -
Weekend AFR: Callum Sinclair on 3 favoured small cap stocks
Callum Sinclair talks about favoured positions the fund has benefited from in Data#3, Breville Group and Nick Scali.
http://www.afr.com/personal-finance/shares/afr7siwfeatherstone-breakout-20161004-gruthn