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
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
This innovator has an answer to a big AI problem
Nvidia’s stock price is soaring – and so are the carbon emissions caused by all the processors the chipmaker is churning out for power-hungry AI developers.
German-listed Aixtron, which supplies technology that helps the manufacture of computer chips, is at the forefront of trying to solve this problem.
“Artificial intelligence doesn’t exist in the ether – its computing power requires a vast infrastructure of data centres,” says Maxime Le Floch, an analyst with Regnan Global Equity Impact Solutions fund .
“One of the technologies that can help solve this issue is the use of compound semiconductors like gallium nitride, where Aixtron is a market leader.”
Gallium nitride can reduce the energy consumption of a data centre by 20 per cent, leading to a 10 per cent reduction in data centre operating expenditure, says Le Floch.
“Companies that can provide compelling solutions for these kinds of problems typically experience very strong growth and long term, compounding earnings.”
Tim Hext: It’s ‘so far, so good’ on rates and the economy. But what’s next?
Play podcastTim Hext: It’s ‘so far, so good’ on rates and the economy. But what’s next?
After the latest inflation results, you’re probably thinking “so far, so good” on rate rises and the economy.
The worst of inflation at 8-10% appears to be behind us, with numbers heading to 3-4%.
No evidence yet of a sharp slow-down and most fixed mortgage holders seem to be adjusting ok to higher rates, partly due to strong employment.
What’s next for investors? Our head of bond strategies Tim Hext gives his view in our latest fast podcast.
“It’s a very mixed picture and with managing money, you’ve got to respect that for now.
“The mega trends are probably on hold for the next six to 12 months, but we’ll be keeping a very close eye on everything to see what emerges.”
Global equities: Where to look for AI winners
Quick view
Global equities: Where to look for AI winners
Looking for exposure to artificial intelligence?
Go beyond big tech and look for companies using AI to improve efficiency or competitive advantage, says Pendal global equities analyst Sue Scott.
For example, copper miner Freeport-McMoRan has lifted output by as much as 5 per cent at some of its facilities using AI. Energy group Total is using AI to help deploy solar to its worldwide service station network.
“There’s a lot of hype factored into what AI means for future earnings,” says Scott.
“But our focus has been looking at the companies where AI is being successfully used as a tool for productivity and product development.
“Some companies will be faster than others. Our investment philosophy is always to own the dominant players in any particular market.
“To keep their edge, it’s important for us to see that they’re at least looking at these kinds of technologies.”
Green bonds: What are they and how do you choose the right ones?
Play podcastGreen bonds: What are they and how do you choose the right ones?
The Albanese government is getting ready to launch Australia’s first sovereign green bonds, which will fund public net-zero projects.
As with all new green bond issuances, investors will be looking to make a good return and a positive impact.
When it comes to impact, investors should be looking for “additionality” in the projects funded by Albo’s green bonds, say Pendal’s head of credit and sustainable strategies George Bishay and ESG credit analyst Murray Ackman in our latest fast podcast.
“In other words, is it actually a step change?,” asks George. “Is it just refinancing an old project or is it a new project?”
Sovereign green bonds should be able to fund bigger, riskier, more interesting projects.
“We’re wanting to see projects that bring about some kind of revolutionary change,” says Murray.
“For example, in the US we’ve seen the Inflation Reduction Act has created a market for hydrogen by subsidising it significantly.”
Tim Hext: Soft landing more likely but don’t hold your breath on rate cuts
Play podcastTim Hext: Soft landing more likely but don’t hold your breath on rate cuts
It looks like RBA boss Phil Lowe’s “got one more hike he’s itching to do” in July or August, says our head of bonds Tim Hext in our latest fast podcast.
Inflation data would then start to turn down and the RBA would likely pause the rest of the year, Tim reckons.
The US could potentially start cutting rates early in 2024, he says.
“With that backdrop, there is a possibility Australia could get lower rates in the second half of next year, even if inflation – and particularly wages – remain a bit sticky.”
Tim argues investors should therefore consider 10-year bonds as they hover around 4%. Australian cash rates will eventually settle down in the 2% to 3% band, he believes.
“It’s a bit like mortgage holders two years ago should have locked in fixed rates for their mortgages.
“Now I reckon investors ought to consider locking in fixed rates for their investments.”
New weight-loss drugs offer solution to the obesity crisis
Quick view
New weight-loss drugs offer solution to the obesity crisis
Demand for a new generation of weight-loss drugs such as Novo Nordisk’s WeGovy is soaring — particularly in the US where demand is outstripping supply.
Bloomberg estimates global sales of branded anti-obesity drugs could hit $US44 billion by 2030.
While medications are not the only solution, “they are one revolutionary step forward in countering the [obesity] epidemic” noted Scientific American recently.
Some doctors say drugs like Wegovy “could help stem a tide of weight-related conditions such as heart disease or joint pain”.
Sustainable investing leader Regnan, which is part of the Pendal (and now Perpetual) family, is a long-term investor in Novo Nordisk.
“We like companies that have a relentless pursuit of continuous innovation,” says Regnan’s Maxime Le Floch says. “We want companies that innovate, have brand awareness and can build a market from scratch.”
“The main issue Novo Nordisk has had recently is keeping up with demand.”
Barbie might be queen, but content is king when investing in Hollywood
Quick view
Barbie might be queen, but content is king when investing in Hollywood
Global equities investors observing the Barbenheimer phenomenon might be wondering how to get exposure to Hollywood right now.
Blockbuster films Barbie and Oppenheimer may be breaking box office records.
But all the hype can’t hide the fact that showbiz is a complex investment environment with actors and writers strikes, a super-competitive streaming market and the challenge of AI-generated content.
“For investors, it comes down to the age-old adage, ‘content is king’”, says Sue Scott, senior investment analyst for Pendal Concentrated Global Share Fund.
Sue and her team are investors in Warner Bros. Discovery – the studio behind Barbie – as well as Netflix.
The writers and actors strike – which could last into next year – underlines the importance of choosing companies with a good library of content such as Netflix and Warner, says Sue.
Fast podcast: Three things blunting the impact of rate rises on inflation
Play podcastFast podcast: Three things blunting the impact of rate rises on inflation
Inflation isn’t yet under control and the RBA still has work to do, argues Oliver Ge, an assistant portfolio manager with Pendal’s income and fixed interest team.
“I think at 4.1% we’re still at least a couple of hikes away,” argues Oliver in our latest fast podcast.
“Depending on where wages and inflation land later this month, we possibly could follow the path of New Zealand or the UK into the 5.5%, possibly 6% region.”
Oliver points to three things blunting the impact of rate rises: “Firstly, the Australian economy is demonstrating a level of resilience that’s greatly surpassed most expectations.
“Secondly, there seems to be a wage-price spiral in certain aspects of inflation that continues to channel within the CPI basket, so it persists at a level that warrants concern.
“Thirdly, despite market chatter about the potential fallout from high interest rates – particularly for mortgage holders – our analysis shows that Australians, on aggregate, aren’t as vulnerable as one might assume.”
Loading posts...
Subscribe to The Point
Get regular insights on investing, market analysis and portfolio management from the experts at Perpetual Group.