The Insider
Meet the Fund Manager
Andrew Brown
East 72 Holdings Ltd
The Insider sessions are a great way to hear directly from leading fund managers. They share their approach to investing, favourite companies and their market view for the year ahead.
Favourite Investment Ideas
Exor, controlled by an Italian dynasty family, the Agnelli family, has had excellent capital management turning Fiat shares worth €1.34m into €29m. The company now has a €1bn buyback offer with the shares trading at a 40% discount to NAV.
13th October, 2023
Vivendi is a French mass media company, 28% controlled by Bolloré, that is a +€680m profit business strapped to +€9.5m investments, which Andrew thinks is currently cheap, paying roughly 1.2x EV to EBITDA for businesses that are growing.
13th October, 2023
Listed liquidity provider, Virtu Financial, makes big returns on invested capital due to wider spreads and higher retail volumes as a result of excellent capital management with a P/E ratio of under 9x earnings which Andrew thinks is ‘pretty cheap’.
13th October, 2023
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Insights
Andrew divulges his market insights on the ‘global debt bubble’ which is expensive to service, the inflationary forces which are ‘not dead yet’, his view that U.S. equities are expensive and why conglomerate structures still work in this environment.
13th October, 2023
Andrew discusses East 72 Dynasty Trust’s unique investment strategy including how the fund evaluated and picked Volkswagen and Bolloré for its portfolio from industry and business assessments to the capital structures and final valuations of both companies.
13th October, 2023
Join Andrew Brown, fund manager from East 72 Holdings Pty Ltd, as he discusses the unique investment strategy of the East 72 Dynasty Trust, his outlook on the current market environment and his top three stock picks right now.
13th October, 2023
Meet the Fund Manager
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Past Sessions
Daniel Porter PURE Asset Management
Daniel Porter, Portfolio Manager has held analyst roles with global investment banks for over 15 years and covered the Engineering and Mining Services Sector for over ten years. His deep background and experience in the sector underpins PURE’s investment approach.
Luke Winchester Merewether Capital
Luke Winchester, Managing Director and CIO at Merewether Capital, is one of the largest investors in the Merewether Capital Inception Fund. With confidence returning as inflation moderates and economic indicators remain strong, Winchester believes the portfolio is well positioned entering FY24.
Hedley Widdup Lion Selection
Hedley Widdup is a geologist and investment professional with extensive mine and resource geology experience spanning WMC Resources at the Mt Keith Nickel Mine, Olympic Dam, Mt Isa and St Ives Gold Mine. He graduated as a geologist with first class honours from the University of Melbourne in 2000 and completed a Graduate Diploma in Applied Finance in 2011.
Past performance is not a reliable indicator of future performance.
Reach does not assume responsibility for the accuracy or completeness of any information provided, and the views expressed are not reflective of Reach Markets position. Any advice contained within this presentation is general advice and does not consider your personal circumstance, you should consider whether it’s appropriate for you. The information we are giving you is for educational purposes only. “Investing is about understanding your risk” and every time you invest in the share market there is a risk of loss. If you are thinking about acquiring a financial product, you should read any relevant Product Disclosure Statement, disclosure documents and Target Market Determination (TMD) available from the issuer.