July Newsletter | Differentiating risk from volatility. Low volatility has been a feature of financial markets of late. The US market has been particularly benign, with volatility at levels not seen since 2006. The S&P 500 has just gone through ... Read more
Auscap Awarded Eurekahedge Best New Asian Hedge Fund
The Auscap Long Short Australian Equities Fund has received the Eurekahedge Best New Asian Hedge Fund Award at the Eurekahedge Asian Hedge Fund Awards 2014 ceremony in Capella Singapore on 23 May 2014. The Auscap Team are grateful and humbled and ... Read more
Australian Government Budget 2014: Implications For Discretionary Spend
May Newsletter | What impact will the Australian Federal Budget have on discretionary expenditure? In our most recent newsletter we compare the 2014 Budget with the contractionary 1996 Budget and assess the potential impact on discretionary retail ... Read more
Real Yield & Relative Value
April Newsletter | In this edition we discuss our thoughts on the real yield offered by equities, that is, the yield offered by equities after deducting for the effect of inflation. We look at current real yields, from both an earnings and a dividend ... Read more
Asymmetric Information & IPOs
February Newsletter | The IPO excitement was palpable in late 2013. Private owners of businesses obliged, raising $11.8 billion in December alone, the most initial capital raised in any month in the history of the Australian Stock Exchange and almost ... Read more