Close
Leave Feedback
Welcome to the new btim.com.auTake a two minute tour to see what we've changed
Hi there! Welcome to the new look Pendal website... Take a two minute tour to see what we’ve changed.
Mainstream Online Web Portal
LoginInvestors can view their accounts online via a secure web portal. After registering, you can access your account balances, periodical statements, tax statements, transaction histories and distribution statements / details.
Advisers will also have access to view their clients’ accounts online via the secure web portal.
What does Xi Jinping’s consolidation of power mean for investors?
October 26, 2022
Here’s a quick take from Pendal Aussie equities portfolio manager BRENTON SAUNDERS
CONFIRMATION of Xi Jinping’s third term as China’s leader last weekend wasn’t surprising, but the degree of his apparent control is greater than most expected.
Most commentators say this is close to a worst-case outcome in terms of concentration of power, says Pendal portfolio manager Brenton Saunders.
“All members of the powerful seven-person central standing committee are considered Xi loyalists,” says Brenton, who manages Pendal’s Australian midcap and resources portfolios.
“This is likely to embolden Xi to continue pursuing his regional and global geopolitical ambitions.
“Details of a five-year plan will be forthcoming. But it appears the main aim will be to turn the ‘successfully achieved moderately prosperous society‘ into a ‘modern socialist society’.
“This is seen as part of China’s ambitions to be an independent technology powerhouse and to project power and influence.
Find out about
Pendal Midcap Fund
“This may suggest the economy remains on a relatively austere pathway by historical standards.
“Stimulus could be used in a more surgical manner to achieve economic goals where needed.
“The potential outcome for the property market remains muted. Material stimulus is unlikely beyond the short term.
“This is a headwind to economic growth and demand for steel-making materials.”
Iron ore and coking coal stocks are most exposed to the trend long term, says Brenton.
But China’s strategic pivot to technology, grid investment and electric vehicles should benefit base metal and lithium-producing companies in the long term, he says.
About Brenton Saunders and Pendal MidCap Fund
Brenton is a portfolio manager with Pendal’s Australian equities team. He manages Pendal MidCap Fund, drawing on more than 25 years of expertise. He is a member of the CFA Institute.
Pendal MidCap Fund features 40-60 Australian midcap shares. The fund leverages insights and experience gained from Pendal’s access to senior executives and directors at ASX-listed companies. Pendal operates one of Australia’s biggest Aussie equities teams under the experienced leadership of Crispin Murray.
Pendal is a global investment management business focused on delivering superior investment returns for our clients through active management.
This information has been prepared by Pendal Fund Services Limited (PFSL) ABN 13 161 249 332, AFSL No 431426 and is current at October 26, 2022. PFSL is the responsible entity and issuer of units in the Pendal Midcap Fund (Fund) ARSN: 130 466 581. A product disclosure statement (PDS) is available for the Fund and can be obtained by calling 1300 346 821 or visiting www.pendalgroup.com. The Target Market Determination (TMD) for the Fund is available at www.pendalgroup.com/ddo. You should obtain and consider the PDS and the TMD before deciding whether to acquire, continue to hold or dispose of units in the Fund. An investment in the Fund or any of the funds referred to in this web page is subject to investment risk, including possible delays in repayment of withdrawal proceeds and loss of income and principal invested. This information is for general purposes only, should not be considered as a comprehensive statement on any matter and should not be relied upon as such. It has been prepared without taking into account any recipient’s personal objectives, financial situation or needs. Because of this, recipients should, before acting on this information, consider its appropriateness having regard to their individual objectives, financial situation and needs. This information is not to be regarded as a securities recommendation. The information may contain material provided by third parties, is given in good faith and has been derived from sources believed to be accurate as at its issue date. While such material is published with necessary permission, and while all reasonable care has been taken to ensure that the information is complete and correct, to the maximum extent permitted by law neither PFSL nor any company in the Pendal group accepts any responsibility or liability for the accuracy or completeness of this information. Performance figures are calculated in accordance with the Financial Services Council (FSC) standards. Performance data (post-fee) assumes reinvestment of distributions and is calculated using exit prices, net of management costs. Performance data (pre-fee) is calculated by adding back management costs to the post-fee performance. Past performance is not a reliable indicator of future performance. Any projections are predictive only and should not be relied upon when making an investment decision or recommendation. Whilst we have used every effort to ensure that the assumptions on which the projections are based are reasonable, the projections may be based on incorrect assumptions or may not take into account known or unknown risks and uncertainties. The actual results may differ materially from these projections. For more information, please call Customer Relations on 1300 346 821 8am to 6pm (Sydney time) or visit our website www.pendalgroup.com
Keep updated
Sign up to receive the latest news and views