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.
The Point
Quick, actionable insights for investors
Mar 12
How AI concerns are impacting India | What GDP is saying about inflation and rates | How bonds can drive gender equality
Loading posts...
Latest updates from our fund managers
Australian Equities
Crispin Murray: Mispricing is opening up opportunities on the ASX
March 18, 2026
See all
Income and Fixed Interest
Murray Ackman: Understanding carbon measures in fixed income
March 19, 2026
See all
Emerging Markets
Emerging markets: Look past commodity exports to countries with strong domestic demand
July 26, 2023
See allSubscribe to The Point
Get regular insights on investing, market analysis and portfolio management from the experts at Perpetual Group.
Follow
The Point
These podcasts are for general information purposes only, should not be considered as a comprehensive statement on any matter and should not be relied upon as such. They have been prepared without taking into account any recipient’s personal objectives, financial situation or needs. Because of this, recipients should, before acting on the information, consider its appropriateness having regard to their or their clients’ individual objectives, financial situation and needs. The information is not to be regarded as a securities recommendation.
The information in these podcasts 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 in this presentation is complete and correct, to the maximum extent permitted by law neither Pendal nor any company in the Pendal group accepts any responsibility or liability for the accuracy or completeness of this information.
Any projections contained in these podcasts are predictive 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.
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.
For more information, please call Customer Relations on 1300 346 821 8.00am to 6:00pm (Sydney time) or visit our website www.pendalgroup.com
Nov 17
China’s big policies moves | Why the 70:30 portfolio is back | Bonds to watch out for | Inflation outlook
Tim Hext: Inflation looks to be softening. Are sunnier days ahead?
Last week US inflation rose at a slower-than-expected rate, leading to a surge in stocks.
Are sunnier days ahead? Or will this month’s data join earlier false dawns such as July?
“Although not entirely unexpected, lower inflation will continue to provide encouragement to markets that the Fed can slow the pace of hikes (likely 0.5 percentage points in December),” says our head of government bonds Tim Hext.
“Investors should view any decent rallies as an opportunity to de-risk portfolios for the challenges ahead.”
The super-high inflation battle of 2022 may be won. But the outcome of the war is still uncertain, says Tim.
Getting from 9% to 4% next year will be “the easy part”, he says. Commodity shocks from Russia and tight labour markets will likely see inflation get sticky around 4%.
“Unless we tip into a steep recession the US Fed will remain wary about calling victory on inflation soon.”
Beijing is changing policy on Covid and property. Is this bottom for China stocks?
Quick view
Beijing is changing policy on Covid and property. Is this bottom for China stocks?
China stocks surged after Beijing finally made market-friendly policy moves on Covid re-opening and property industry debt.
Is this bottom for Chinese equities?
Investors should broadly see this as a buying opportunity for the best-positioned Chinese companies, says Pendal emerging markets manager James Syme.
“We essentially believe China’s policy choices in the past two years broke its economy and equity market. We may now be seeing the beginning of changes that are needed to fix this.
“We have very significantly reduced our underweight position in China.”
Some sectors remain unattractive though, he cautions. Avoid state-owned banks, private-sector property developers and tech giants with poor corporate governance.
Nov 10
How to read the rally | The signal that will end rate hikes | Lessons from US earnings season
Tim Hext: The case for inflation-linked bonds
Quick view
Tim Hext: The case for inflation-linked bonds
With the cost of living rising, are inflation-linked bonds a good option?
Returns from inflation-linked bonds are adjusted for inflation, allowing investors to protect real returns. They’re not popular in Australia, which is something of a mystery to our government bonds chief Tim Hext.
“We expect US inflation will fall soon and Australia will follow by mid-2023. Risk markets may take some encouragement from this, but inflation is likely to remain around 3-4%.
In this environment investors need the defensiveness of bonds, which have restored their insurance credentials after this year’s hits, says Tim.
“My recommendation would be to buy inflation-linked bonds. The mainstream investment community seems to prefer standard, nominal bonds — as evidenced by the nominal-only benchmark proposed for bonds in the Your Future Your Super guidelines.
“In my view this is poor policy, overlooking the benefit that inflation-linked bonds provide for retirees or those near retirement.”
Crispin Murray: What’s driving Aussie equities this week
Quick view
Crispin Murray: What’s driving Aussie equities this week
The medium-term outlook for markets depends on the degree of economic downturn and its impact on company earnings.
But there is debate about how much the downturn will affect earnings, says our head of equities Crispin Murray.
“Historically, recessions have led to an average 20 per cent fall in earnings,” says Crispin.
“But this is often in a low-inflation environment, when nominal GDP (a proxy for corporate revenue) is low.
The bulls argue that three factors may mitigate earnings decline, says Crispin:
-
Companies will benefit from higher nominal growth, supporting revenue and helping cover fixed costs
-
Materials and energy companies will see continued strong earnings, given lack of supply
-
The potential re-opening of China may offset weakness in Europe and the US
Nov 3
Three things to watch when re-entering markets | Why bonds look promising for Q2 next year | How China has ‘completely changed’ for investors
Oct 27
Budget, inflation and rates outlook | Xi and the ASX | How to avoid greenwashers | Indonesia looks promising | Euro outlook
Loading posts...
Subscribe to The Point
Get regular insights on investing, market analysis and portfolio management from the experts at Perpetual Group.