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At this years Perennial Value and Daintree Capital Investment Day, Andrew Smith - Portfolio Manager discussed where he and his team have found new opportunities in unlisted and pre-IPO stocks within the Microcaps and Small Caps sector of the market. ...

Portfolio Manager, Andrew Smith, shares his summer holiday reading list. Be inspired and keep you finger on the pulse.  I plan to use the quieter markets over January to finish books that I have typically started reading and have put aside to focus on the latest...

Read how Andrew Smith, Head of Small and Micro Caps uncovers great stock ideas for the Microcap Opportunity portfolio. Acrow Formwork and Construction Services (ASX:ACF) is an investment that is in the Microcaps Opportunities Trust. You can read more about this Trust here. How did you...

Navigator Global Investments delivered a quality FY18 result with EBITDA +15% and dividends +14% both in US$. This capped off a successful year, which saw the share price almost double. Source: NGI FY18 Result Presentation After such a strong run, investors could be forgiven for thinking all...

They say big things come in small packages, but nowhere is that truer than in smaller companies. Small companies can offer the possibility of big returns, but that often comes at the price of higher volatility. Andrew Smith, Portfolio Manager of Perennial Value, will discuss why...

Structural Biases Many academic papers such Fama and French (1992) have identified that smaller companies outperform their large cap cousins over the long term. While locally it has been evident with the median Australian small cap manager returning 2.7%** more than the large cap median over...

During reporting season we were faced with many presentations that had flattering adjusted EBITDA and normalized NPAT figures – but these two numbers do not reveal the whole story to investors. To assess a company’s true health we make a beeline for their cashflow statement...

Microcaps describes the share market segment of the smallest investable stocks. While exact definitions vary, the representative market capitalisation for Australian Microcaps is stocks below $500 million. On the Australian Stock Exchange (ASX), this segment has over 1900 companies. DOWNLOAD WHITEPAPER...

PWR Holdings provides engineered cooling solutions to high-end auto and industrial customers and has become a world leader in these markets. In the 1HFY17 result, they delivered considerable organic growth but this was masked by the strong move of the AUD against the GBP as...

Starting with quality of the earnings, the data was encouraging. Revenue growth continues to be strong reflecting the recovery in the mining cycle. More encouraging was the expansion in EBITDA margins (from 16.5% to 19.2%) and this was despite the disclosure of an additional $5 million invested...