The following is our latest Fund Analyst Report for Oakmark Select (OAKLX)
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True to form, Oakmark Select has rebounded. It receives a Morningstar Analyst Rating of Silver.
The strategy is recovering from a multiyear slump. A rough patch during early 2020 s pandemic-induced sell-off was disappointing but not uncharacteristic. The portfolio s value tilt relative to its S&P 500 benchmark and former large-blend Morningstar Category peers proved disadvantageous in the narrow growth-led market of recent years. But an inability to get the team s most successful stock picks into this focused portfolio particularly stung versus its more-diversified sibling Oakmark (OAKMX).
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Shareholders enjoy handsome takeover bids Lex Hall | 24 May 2021Text size
Shareholders in several ASX companies have enjoyed handsome takeover bids, with this month’s bid for Crown Resorts the latest to be launched following a strong start to the year.
Asset managers say other takeover bids are likely, with private equity’s huge stores of cash and the low cost of borrowing making bids easier as companies seek growth by joining with others.
Private-equity firm Blackstone and casino operator Star Entertainment Group (ASX: SGR) have both bid for gaming group Crown Resorts (ASX: CWN). Morningstar analyst Angus Hewitt says another bid for narrow-moat Crown is likely after the company rejected Blackstone s revised bid of $12.35 cash per share. Morningstar’s fair value estimate remains unchanged at $12.14, compared to its current price around $12.90, up from around $10 before Blackstone’s first bid in March.
Under the hood of Australia’s largest sustainable ETF Lewis Jackson | 12 May 2021Text size
Australia’s largest sustainable fund easily outpaces the ASX 200 and boasts strict exclusion criteria, but there are companies accused of tax evasion among its holdings. The results illustrate the challenges investors face in the broader sustainable or ethical investing space, where definitions can vary from fund to fund.
BetaShares Global Sustainability Leaders ETF (ASX:ETHI) has more than $1.3 billion under management. It tracks an index of large global stocks identified as “Climate Leaders”, companies that have also passed several exclusion tests, including involvement with fossil fuels, weapons, and human rights abuses.