Mid Cap Quality Fund Portfolio Manager, Tim Riordan shares his M&A observations of high quality companies and the material demand for high quality assets across sectors.
Key highlights across the portfolio:
- Quality assets bid – the consistent underlying bid for quality assets is impressive, if quality assets trade too cheaply they won’t last long in their current form. This somewhat underwrites valuations for true quality assets.
- Buy v build – post the recent inflationary years, whether assets are trading cheap or rich, it is now cheaper to buy v build in many cases
- Breadth of demand – perhaps the most interesting has been to see demand right across the spectrum of sectors and asset types – ag infrastructure, technology, financials and commodities, cyclicals & defensives, growth & value.
