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Big hat, no cattle

SAM DYSON | Mining 101: a good mining company makes money at the low end of a steep cost-curve. This is BHP’s strategy and it is working wonders in iron ore. However, in 2011 BHP forgot this simple rule. Deal hungry and with cash flow burning a hole in the pocket after two failed takeovers, […]

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16, November 2017
Australian equities | Australian shares | Uncategorized

Santos projects in the spotlight for investors

AUSTRALIAN FINANCIAL REVIEW | “These projects can be huge cash flow providers at the right oil price, but they also can create a huge contingent liability as well,” said Jason Teh, Chief Investment Officer at Vertium Asset Management. As featured in the Australian Financial Review

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09, November 2017
Australian equities | Australian shares

Latest report | Vertium Equity Income Fund

MONTH TO 31 OCT 2017 | The Vertium Equity Income Fund returned 1.37% for the month of October, underperforming the S&P/ASX 300 Accumulation Index. View report

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08, November 2017
Uncategorized

Equity ‘bubble’ fears overstated: Vertium AM

INVESTOR DAILY | Most stocks on Australian and US stock exchanges are trading well below their pre-GFC valuations, says Vertium Asset Management chief investment officer Jason Teh, who will be speaking at the InvestorDaily Asset Strategy Forum 2017 next week. In a recent article titled ‘Is the stock market in a bubble’, Mr Teh said there have […]

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25, October 2017
ASX | Australian equities

Fund star Teh casts light on low-risk winners

THE AUSTRALIAN | It may be the most-hated bull market in history, but there are still some low-risk buying ­opportunities for income-focused ­investors, says Vertium Asset Management chief investment officer Jason Teh. “Every second week you hear a bear market prediction, and that’s a healthy sign,” he told The Australian yesterday. “I’m not seeing ridiculous earnings multiples.” […]

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25, October 2017
ASX | Australian equities

Is the stock market in a bubble?

JASON TEH | It has been about 10 years since the Global Financial Crisis (GFC) began to unfold. Very few were prepared for the financial damage that ensued. And it has permanently impacted the psyche of many market pundits. Since then, there has been no shortage of bear market predictions and lately there has been […]

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19, October 2017
Uncategorized

Lonsec awards 'Recommended' rating

Lonsec has awarded the Vertium Equity Income Fund its ‘Recommended’ rating following a review of the manager’s fund in October 2017 – just three months after Vertium Asset Management was launched by Jason Teh in partnership with Copia Investment Partners. In its review, Lonsec highlighted the fund’s “highly appealing” investment strategy and noted Vertium’s founder, […]

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19, October 2017
Rating

Orora: a non-traditional income stock

LIVEWIRE | “Orora is one stock that is not considered a ‘traditional’ income stock. Given its earnings are relatively stable and its dividend payout ratio is set around 70%, Orora’s dividend is sustainable. Further, with 30% of its earnings retained and redeployed back into the business, the company has done an excellent job in creating […]

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20, September 2017
Australian equities

Telstra: Dog or darling? | Q&A with Jason Teh

LIVEWIRE | Dividend unsustainable, even after the cut Looking ahead, with Telstra’s new dividend set at 22 cents per share, it may look like the dividend is sustainable at the current lower level. We do not think so. When the NBN migration is complete, we believe Telstra earnings per share will be very close to […]

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18, September 2017
Uncategorized

The ASX dividend dilemma | Q&A with Jason Teh

LIVEWIRE | The ASX has been viewed as a stable source of income, given the context above do you believe this is changing? Ever since the introduction of the dividend imputation system, Australian companies have recognised that shareholders value franking credits. Hence, Australian companies generally pay higher dividends as a form of capital management compared […]

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14, September 2017
Australian equities
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