Designed to provide you with concise, relevant and digestible talking points on global markets, each video is around 10 minutes.
Welcome to series 2 of Magellan Minutes, our recent investment insights initiative, in which senior members of our investment team dissect the markets and take a deeper look into the sectors and stocks that make up our global and infrastructure portfolios. This series is designed to provide you with concise, relevant and digestible talking points on global markets, each in around 10 minutes.
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The healthcare sector is perhaps the most topical at present as vaccine developments and rollouts dominate headlines around the world. Magellan’s Head of Healthcare John Wylie explains what the latest vaccine trial data and approvals may mean for global markets, and whether life could return to normal (including travel opening up again) in the not-too-distant future. John takes a closer look at Novartis, a top-10 holding in the global portfolio, and provides his views on how the healthcare sector will fare in 2021.
Big tech stocks in our global portfolio such as Alphabet, Facebook and Netflix have beaten expectations during the pandemic. Ryan Joyce, Magellan’s Co-Head of Technology and Portfolio Manager, unpacks the reasons why. The regulatory spotlight is likely to remain on the sector in the coming years and Ryan explains why we think most will manage to navigate these challenges, including Chinese tech businesses such as Tencent. He explains why Netflix in a new portfolio holding.
It’s no secret that the pandemic and recurring lockdowns have driven changes in consumer behavior, most notably with the shifts to ecommerce and take away. Equally, what people are buying has changed in the past year - home improvement, for example, has seen double-digit growth in 2020 as has skincare. Hannah Dickinson, Magellan’s co-head of Franchises, discusses these sectoral changes, the enduring growth in digitalisation and look at stocks Estée Lauder, Starbucks and Shopify.
The payments sector has faced benefits and challenges over the past 12 months. While covid-19 has driven a surge in online shopping, the flipside was a dramatic reduction in travel spending. Dom Giuliano, Magellan’s Deputy CIO, Head of ESG and Portfolio Manager, explains why Mastercard and Visa may experience a year of two halves in 2021 in light of vaccine rollouts and the continued evolution to a cashless society while noting the longer-term challenges emerging for the sector.
Pockets of the listed infrastructure sector have been hit hard by the global pandemic. Airports and toll roads have seen a large reduction in traffic. In this video, Infrastructure Portfolio Manager Ofer Karliner provides an outlook on the sectors and the stocks within our portfolios as the vaccine roll out continues globally. Another hot topic for 2021 is the investment in renewable energy. Ofer addresses where we see opportunities developing in this area.
Alan Pullen, Head of Financials and Portfolio Manager, dissects the sector, and more specifically, how the banks have fared during covid-19 and continued low and negative interest rates. He provides insight into why the longer-term outlook for banks is starting to show early signs of improvement. Alan takes a dive into new financial services holding Intercontinental Exchange, the owner of the New York Stock Exchange, and explains how a 20-year focus on digitalisation of markets has propelled them from a US$1 start-up to the world’s largest exchange business, and one we’re excited about.
The enterprise software sector has been largely shielded from the damage of covid-19. In this video, Investment Analyst Adrian Lu looks at the reasons why these businesses have performed so strongly, how that growth trajectory may continue, and goes into detail on portfolio holdings, Microsoft and SAP.
For more Magellan insights visit: www.magellangroup.com.au/insights/
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