Rob Scott, Managing Director and Chief Executive of Wesfarmers, spoke with Emma Fisher, Portfolio Manager of the Airlie Australian Share Fund, about his first decisions in charge, why he demerged Coles, why the Wesfarmers conglomerate model works when it has failed elsewhere, how the company approaches capital allocation, what he looks for in acquisitions, and why he made 'entrepreneurial spirit' a Wesfarmers value.
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BHP offers promise because it possesses the advantages a miner needs to generate high returns from an industry beset by demand-supply imbalances. The miner too is well placed for a world that is headed towards a lower-carbon future.
Fiscal and monetary stimulus and holidaymakers stuck in Australia helped retail stocks thrive during the pandemic. Yet the sector still looks undervalued.
A great business in an average sector. Airlie’s hunt for high-quality undervalued businesses lead them to Charter Hall, an under appreciated REIT.
The Annual Fund Review for the Airlie Australian Share Fund can be found below, along with the quarterly fund factsheet and Top 10 stocks in focus flyer to 30 June 2021.
